PRDC Properties has sold 650 Fairmount, a 5-acre parcel in Northern Liberties where it had planned to build a $100 million mixed-use development. 

Accurate Builders & Developers of Lakewood, New Jersey, bought the site for an undisclosed amount. Accurate is expanding into the Philadelphia market and will move forward with the mixed-use project PRDC had planned.

PRDC bought 650 Fairmount for $16 million in 2017 when it was the site of Fairmount Manor, a complex of 100 garden-style affordable apartments. The company worked for three years to secure the approvals for a new development that involves 297 apartments, 107 townhouses and 21,000 square feet of commercial space. 

*Article courtesy of Philadelphia Business Journal

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