(Read more on the multifamilymarket.)
PHILADELPHIA-At an estimated cost of $4 million each,developer/partners Fred Berg and Steve Fox have begun low-risecondominiums on vacant lots in two far-flung neighborhoods.Pine.West is at 4742 Pine St. near the University of Pennsylvania,and West Poplar Square occupies the full 700 block along BrownStreet in Northern Liberties, which is on the opposite side ofCenter City.
Pine.West, a five-story, 20-unit property, broke ground thisweek. Berg confirms that according to public records, the land wasacquired in August 2006 for $385,000. This will be the first newconstruction in West Philadelphia in decades, Berg says, andPine.West is designed to blend in architecturally with thesurrounding buildings.
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