Alterra Property Group wants to bring 352 apartment units to the intersection of 42nd and Market Streets, on the edge of West Philadelphia’s University City.
The six-story modular building would include 22,511 square feet of retail space, a roof deck, amenity space, and 110 parking spaces.
“We think there’s a lot of demand for mid-size [apartment buildings] that are reasonably priced, although I’m not saying it’s affordable housing by any stretch,” said Leo Addimando, managing partner with Alterra.
The apartment project would utilize modular construction techniques, where much of the structure is built off site. These structures are cheaper to build than traditional projects, with substantial savings on labor costs. That’s why, Addimando says, they can be rented for hundreds of dollars less than typical new construction units.
For more information about Philadelphia land sites for sale or about any other Philadelphia properties for sale or lease, please contact WCRE at 215-799-6900.
Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Philadelphia commercial real estate broker that provides a full range of Philadelphia commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Philadelphia commercial properties for buyers, tenants, investors and sellers.
Please visit our websites for a full listing of Philadelphia land sites for sale through our Philadelphia commercial real estate brokerage firm.
