RAL Development Services Begins Construction of 1300 Fairmount Avenue
RAL Development Services had previously announced the pre-lease of 38,000 square feet of commercial space at 1300 Fairmount Avenue.
PHILADELPHIA, PA—RAL Development Services has broken ground for 1300 Fairmount, a 14-story, 624,575 square foot mixed-use property designed by Philadelphia’s Cope Linder Associates.
The property is positioned at the intersection of several significant historic and developing neighborhoods, and will include 478 rental apartments (studio, one-bedroom, two-bedroom and three-bedroom layouts), and 58,759 leasable square feet of retail space. The building has direct access to the Broad Street subway line at the Fairmount station as well as multiple bus routes.
The groundbreaking “is a momentous occasion for RAL and the City of Philadelphia as we are confident 1300 Fairmount Avenue will be key to the area’s ongoing growth and success,” says Spencer Levine, Managing Director of RAL. “We are thrilled to have the full support of local officials and look forward to what this transformative project will provide for the neighborhood.”
RAL Development Services had previously announced the pre-lease of 38,000 square feet of commercial space at 1300 Fairmount Avenue. Nobel Learning Communities, a national network of 200 private schools throughout the country, has pre-leased a space of 12,488 square feet in the property. Nobel plans to open a Chesterbrook Academy Preschool, providing high-caliber early childhood education to children of parents who live and work in and around the Fairmount neighborhood.
Aldi, a leader in the grocery retailing industry, has pre-leased 25,427 square feet of retail space in the project for a much-needed grocery store that will provide healthy and affordable groceries to the growing neighborhood.
“I’m pleased to welcome a new development that will not only provide housing opportunities, but will also serve the entire community,” City Council president Darrell L. Clarke says. “The addition of an Aldi and Chesterbrook Academy Preschool will fill a growing need and create jobs. Once completed, 1300 Fairmount will be an important anchor for an increasingly vibrant and attractive section of North Broad.”
The project’s retail space is located in the base, along with two levels of ample parking with a capacity for 292 cars. 1300 Fairmount’s residential units start on the fourth floor and up, providing unobstructed views to residents, including views of Center City Philadelphia for a significant number of units.
Portions of 1300 Fairmount are expected to begin opening in early 2020.