PHILADELPHIA—The Eastern Tower Community Center mixed-use tower project in Chinatown has been awarded a $3.7-million grant from the State of Pennsylvania.
The funding from the state's Economic Growth Initiative will seed the $75-million project to be built at 10th and Vine streets. The 23-story 227,000-square-foot building to be developed by the Philadelphia Chinatown Development Corp. will feature 144 apartments, offices, recreational and retail space and a parking garage, according to the Philadelphia Business Journal. Construction is scheduled to begin in early 2015.
Other financing sources for the venture include $33 million raised from an immigrant investor regional center, $42 million from Citi Community Capital and $1 million from the William Penn Foundation and the Fund for Quality. See story in the Philadelphia Business Journal.
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