PHILADELPHIA, PA—The Goldenberg Group, international real estate firm Hines, and ASB Real Estate Investments have launched construction of a new class A residential tower at 1213 Walnut Street in Center City Philadelphia. The project represents the first venture by the partnership of Goldenberg, Hines and ASB.
"This development is an exciting one for us because Midtown Village is a diverse, expanding neighborhood in a high-density, highly amenitized area," says Ken Goldenberg, The Goldenberg Group founder, president and chief executive officer. "We have partnered with Hines and ASB to create a project that will contribute to the unique vibrancy of the neighborhood."
1213 Walnut will be a 26-story 300,000-square-foot, 322-unit for-rent luxury residential tower located in the Midtown Village neighborhood of Center City's Washington Square West submarket. This state-of-the art apartment tower will feature more than 7,200 square feet of retail space on Walnut and Sansom Streets and an amenity package with more than 11,000 square feet of resident community space, including a stunning great room, outdoor terrace lounge overlooking Walnut Street, gaming area, entertainment kitchen, private conference area and "quiet room."
Other property features include a 3,000+-square-foot indoor/outdoor fitness center with exercise studio and fitness and yoga terrace, rooftop deck, an elevated private dog park, and bicycle storage with workshop.
The project will offer studio, one-bedroom and two-bedroom units. The project will be LEED® Silver certified, and will incorporate many sustainable features including: the use of green building materials; energy-efficient lighting and plumbing fixtures; state-of-the-art building systems; a green roof; and best management practices.
Design Collective of Baltimore, whose prior work includes the Domus apartments in University City, is the base-building architect, with common areas and amenities designed by RD Jones & Associates. Hunter Roberts Construction Group is the general contractor. The construction financing will be provided by Wells Fargo Bank. Construction began in October, and the first apartments are scheduled to be ready for occupancy in the summer of 2017.
"1213 Walnut is particularly significant to Hines as it is our first development project in Philadelphia," says Daniel Moore, Hines managing director. "We look forward to setting a new bar for top-quality multifamily product in Center City and to growing our presence in the city."
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