Science Center Announces New 364-Unit High Rise Apartment Community Project for University City

Science Center Announces New 364-Unit High Rise Apartment Community Project for University City

PHILADELPHIA, PA - A new high-end residential building is coming to the University City Science Center. Construction will begin on a new 27-story apartment building on land owned by the Science Center at 3601 Market Street in Philadelphia in the fall of 2013. The project is a joint venture between Wexford Equities, the parent company of Wexford Science & Technology, and Southern Land Company. This is the first residential project in the Science Center’s 50-year history.

Located at the northwest corner of 36th and Market Streets, the 400,000 square-foot building will feature 364 studio, efficiency, and one- and two-bedroom apartments. Other building features include approximately 17,000 square feet of ground-floor retail, a fitness center, a rooftop pool, a resident lounge and 200 parking spaces. All units will include stainless steel appliances and granite countertops as well as washers and dryers.

Groundbreaking is anticipated in Fall 2013 with an expected delivery date of Spring 2015. The project is being designed by BLTa architects with the goal of receiving LEED Silver certification. The building will be topped off with a green roof.

This is the first new high-rise construction project for market-rate rental apartments in University City since Domus was constructed at 34th and Chestnut Streets almost eight years ago.

“This new project will add an entirely new dimension to the Science Center and our campus. It will help us achieve our goal of ‘activating’ our campus and creating a dynamic environment in which to live, work and play,” says Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “As we celebrate our 50th anniversary in 2013, we are looking to the future – and the future of the Science Center centers on a vibrant 24/7 community.“

“We are very excited to continue our partnership with the Science Center with the development of 3601 Market,” says James R. Berens, President, Wexford Equities, LLC. “This market-rate rental apartment project is a great opportunity to broaden the appeal of University City and Philadelphia’s innovation cluster.”

“This project represents an unparalleled opportunity for high-end living in the hub of the Science Center’s vibrant setting,” says Tim Downey, Southern Land Company CEO. “Southern Land and Wexford’s commitment to excellence in design, amenities and service will build on the long-standing dedication by the Science Center to providing a world-class innovation environment.”

"This is a great new project for the Science Center, University City and the City of Philadelphia and we are excited to work with all partners involved to bring it to fruition," says Alan Greenberger, Deputy Mayor for Economic Development. "Bringing new residents to the Science Center campus will help continue the transformation of this dynamic, innovative, and exciting section of our city."

“This project marks a new and exciting phase in the Science Center’s efforts to develop its campus into a thriving innovation sector,” says Ed Covington, Executive Director of the Philadelphia Redevelopment Authority. “We look forward to working with the Science Center and the Wexford/Southern Land team. Adding a residential component will further enhance this section of Market Street and the surrounding neighborhood in West Philadelphia.”

Source: University City Science Center / #Multifamily #Apartments

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