PHILADELPHIA—The lead development partner of the redevelopment of a section of Chestnut Street here says demolition work should begin in weeks on the mixed-use venture valued at between $60 million to $70 million.
The work will involve the demolition of nearly one side of the 1100 block of Chestnut Street to make way for a mix of loft-style apartments and retail space, according to The Inquirer.
The properties Brickstone Co. currently controls—1116 to 1128 Chestnut—will allow the site to be redeveloped to include 96 apartments and 80,000 square feet of retail space, according to Brickstone Managing Partner John J. Connors. The development will stretch almost the length of the south side of Chestnut between 11th and 12th Streets.
Brickstone was hoping to acquire even more property to bring the project to 115 apartments and 90,000 square feet of retail, according to Connors. See story in the Inquirer.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
