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Philadelphia developer D3 introduces affordable housing for teachers

 
That’s right, you heard me correctly.

Affordable housing is coming to Kensington, with about 60% of the units reserved for teachers/educators only, and another 20% reserved for other low-wage earners. It will be called Oxford Mills.

Cool concept, and more positive news for development in Kensington (which seems to be on fire, as of late).

For the most part, affordable housing in the US is typically geared toward those who are disabled, elderly, and/or qualify as low-income; and rightfully so. It’s not everyday that you hear about an affordable housing project designed primarily for educators, and those who have recently graduated from college with a degree that will most likely start with lower-than-average wages; or as stated in the article, “newly minted professionals.”

But, it’s happening; and it’s happening in Philadelphia.

D3 is looking to deliver loft-style units with exposed beams, high ceilings, large windows, and an architecturally pleasing facade. You know, the kind of units that fetch high rents in Philadelphia’s growing neighborhoods. The best part is that they will be about 25% cheaper than comparable apartments (to those who qualify), which will compensate for the income level of its residents.

Smart.

This building also plans to set aside about 40,000 sq ft (close to SEPTA’s public transportation; Hello, TOD) to house offices for start-ups, non-profits, and a new HQ for Teach for America.

Overall, this project gets a thumbs up from me.

Cira Centre South plans for “The Grove”

Rendering of the 33-Story housing complex

 
Well, it looks like Cira Centre South is finally about to break ground on 1 of the 2 proposed buildings for land right next to 30th Street Station.

The Grove at Cira Centre South is a joint partnership between Brandywine Realty and Campus Crest Communities, and will be built on the premise that UPenn will fill it with student housing.

What a great deal for all involved!

Brandywine can finally get this project moving (with the hopes of starting another building, per the original plan), Campus Crest will get an opportunity to cash in on the Philadelphia student housing market, and the University of Pennsylvania gets a top-notch housing complex that it can market to both prospective and existing students.

This is also great news for Philadelphia.

More construction equals more jobs, and more money spent in the immediate area while it’s being built, as well as when it has been completed. It also helps bridge the natural divide (aka The Schuylkill River) by continuing UPenn’s eastern expansion plans.

The cherry-on-top is that this project supports TOD, and will be located next to the 3rd busiest rail transit hub in the US (30th Street Station).

Is City Ave Philly’s next boom spot?

It may very well be … but it will take a few years.

You may remember one of my posts from last year titled “The Vision for City Ave.” As you can see, that post highlighted some of the yet-to-be-seen potential for this heavily traveled area. The good news is that Lower Merion has come through on some zoning changes which will now allow this area to flourish with new and practical development for the foreseeable future.

These changes went into effect on April 30th.

This article states that City Ave should be compared to the DC area’s Tyson’s Corner, VA; which is a good thing. The Philadelphia area, in general, needs to start better leveraging its existing assets (extensive public transportation, population density, Center City core, etc.) to further its reputation as a global city that is forward thinking.

What you will most likely see in the years to come will be larger projects with mixed-use aspects that are driven by TOD (Transit-Oriented Development).

And since this area is only about 10 minutes from my front door, I’m looking forward to seeing what the future has in store for City Ave.