Called Avenue North, this housing project marks the entry of private development to accompany the university's $400-million expansion plan that is already underway. The housing structure is one of two buildings planned for the Avenue North complex by Tower, which is headed by Bart Blatstein, a Temple graduate. A two-story building containing approximately 70,000 sf of retail and a seven-plex movie theater is planned adjacent to the housing. Calls to Blatstein were not returned by deadline.
Among Tower's Philadelphia-area developments are the 20-unit residential Walk Blocks, six Parkview Townhouses, 12 live/work Cambridge Lofts, and redevelopment of a five-acre portion of the former Schmidt's Brewery into a mixed-use, residential and retail project in Northern Liberties. Tower also developed Bridge Five, a 60-unit condominium in Manayunk, and has projects underway in nearby Coatesville.
New York City-based Amalgamated Bank provided the funding for the residential component of Avenue North from its LongView Ultra Construction Loan Investment Fund, which is available only to projects using 100% union labor. Terms of the loan are undisclosed.
A $75-million Tyler School arts facility is currently underway as part of Temple's expansion, and it is expected to reach completion in 2007. Alter Hall, a $78-million, 200,000-sf, seven-story building is also planned for the university's Fox School of Business.
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