Tuesday, January 22, 2013

More residential growth for University City

As if UCity did not have enough projects going on already, add another one to their long list of successful growth.

University City's famed Science Center is planning to build a 27-story apartment building at the corner of 36th & Market. Their main motivation for this building is to create "a hub for innovation and entrepreneurship."

Given that this place is expected to house 364 apartments (1 and 2 bedroom options), a fitness center, resident lounge, rooftop pool, parking, and 17,000 sq ft of ground floor retail space, you might be asking, "who is their target market for residents?"

Well, that's a great question.

According to the article, the Science Center is looking to market the building to local professionals and business owners in the immediate area, as well as both Penn and Drexel students.

I completely agree.

Over the last 10 years, UCity has slowly turned into an education/medical/tech hub for students (both graduate and undergraduate), young professionals, and families. Not only for schools/jobs, but for living options as well. Considering that this building will have high-end features (granite countertops, stainless steel appliances, etc.) and amenities (fitness center, rooftop pool, etc.), I think they hit the nail on the head.

The industries that are growing in this part of Philadelphia all support the income level needed for this type of living, and it also encourages future growth for more of the same.

Oh ... and I forgot to mention, this building will also be sustainable and environmentally friendly (with the Science Center shooting for LEED Silver Certification).

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