Update: Paseo Verde is Moving Along Nicely, Next to Temple Tuesday, January 8, 2013
While we may seem agog to share all the news about new student housing developments in the vicinity of Temple University, this is mostly because student housing is virtually all that's going up in the area. But Paseo Verde, a project we first told you about over the summer, is very much an exception to that rule. This mixed-use development at 1900 N 9th St. will, when finished, consist of 67 market-rate (ostensibly not for students) apartments and 53 affordable housing units, along with roughly 30K sqft of commercial space. Some tenants for the commercial space will be a health center and a new headquarters for the Asociación de Puertorriqueños en Marcha.
The development, which will be LEED certified, was designed by Wallace Roberts & Todd and the renderings look fantastic. Even better, the structures that have been put up thus far look close to the renderings that were crafted about a year ago.
Perhaps most impressive about the project is that it sits almost on top of the Temple University Septa station. While the close proximity to the train tracks won't be ideal for residents on the building's western side, the easy access to public transportation will make the location extremely desirable for people who work downtown or anywhere in the 'burbs that's near a regional rail station.
Yes folks, it's a transit-oriented development of the non-student-housing variety, and it's going up before our eyes. Like most mixed-income projects we've seen, this one has its share of subsidies, but we honestly can't imagine that anything would get built here anytime soon without some kind of government incentives. We'll be sure to check back here again in a few months, at which point we should be able to divine whether any of the architectural flourishes seen in the renderings have been value-engineered our during the construction process.