30-Story Multifamily Tower Opens in Philadelphia
The 405-unit property is located in the University City neighborhood and previously housed a student ministry center.
The Chestnut at University City, a 30-story, 405-unit multifamily tower in Philadelphia, has opened and begun leasing, welcoming its first residents this summer. Located at 3720 Chestnut St. in the University City neighborhood, the site previously housed a student ministry center and was sold by the Archdiocese of Philadelphia in 2018.
The developer is EPG Urban Multifamily, a subsidiary of Exeter Property Group, and the project was built by the Hunter Roberts Construction Group. SITIO architecture + urbanism were the architecture firm and Floss Barber Inc., served as the interior design firm. Greystar is managing the property, its 15th in the Philadelphia area. Construction began in January 2019. A May 22 update from SITIO on its website noted the project was back on track and entering the last stretch of construction with final completions scheduled for the fall.
Pennsylvania Gov. Tom Wolf had suspended construction projects around the state in March and April due to the coronavirus pandemic but allowed construction to resume on May 1. SITIO’s May 22 post showed workers in masks as they followed construction site safety protocols.
The property, which has about 427,100 square feet, has studio, one- and two-bedroom units. Studio apartments will have 503 square feet while one-bedroom units will range in size from 578 to 746 square feet and two-bedroom units will have 1,059 square feet. Apartment amenities will include floor-to-ceiling windows, open kitchens with islands, stainless steel appliances, quartz countertops, wood floors and window treatments. Rents range from $1,792 for a studio to $6,001 for a two-bedroom, two-bath unit.
There are two ground-floor retail spaces. An underground garage with 28 parking spaces is set to open in December. Philadelphia magazine reported last week the 29th floor sky lounge was still under construction and expected to be completed this fall. It will have a pool and deck with city views when finished. Other amenities include a conference room, co-working space, game room, media room and fitness center. The outdoor terrace connects to the co-working café and game room, according to the magazine. The property has green space, including an east-side garden next to the main entrance that is being developed in cooperation with the nearby University of Pennsylvania.
Drexel University is also in the neighborhood. University City is a hub for education, medical and technical organizations and industries. World-class medical facilities including the Hospital of the University of Pennsylvania and the Children’s Hospital of Philadelphia are located in University City. The neighborhood also has retail, dining, bars and other nightlife options.