Only the remnants of two historic brownstones remained when we passed by 38th & Chestnut a couple of weeks ago. You may recall, the owner of these buildings, the Philadelphia Episcopal Church, last year claimed that their demolition and the subsequent redevelopment of the land upon which they sat was the only way that the church would be able to survive. The church had hired Radnor Property Group to help them redevelop this parcel, and they finally made a deal with the Preservation Alliance that allowed for the demolition of the buildings that once served as the church's parish house. The compromise required a clear plan and timeline for the renovation and preservation of the cathedral.
38Chestnut, a $97M mixed-use development, will replace the brownstones. Check out this rendering of the 25-story 276-unit building, which will tower over the adjacent cathedral. The building will cater to grad students, and will have 2-bedroom units, 1-bedroom units, and studios. Amenities include a fitness center, a roof deck, and underground parking. Look for retail on the first floor as well.
This new 308K sqft mixed-use project is another example of the development fury underway in University City. Nearby, at 40th & Chestnut, Piatt Associates are developing Hub 2, the seven-story 65-unit with retail on the first two floors next door to the Hub, which hosts Jose Garces Distrito. In addition to new developments like Chestnut Square and LeBow Hall, Drexel is looking into developing a master plan for the area around 30th Street Station.
Just north of the future home of 38Chestnut, the Science Center's 3737 Market is another one of the various projects coming online in University City in the next year or so. As these large-scale projects continue, the fact they're designed for student housing points to expected longevity in University City. Retailers looking to open in the area can do so with the knowledge that the supply of potential consumers will continue to be plentiful each year. And at the corner of 38th & Chestnut, it will be an interesting contrast to see the cathedral sitting in the shadow of the tower where old Philadelphia's elegant architecture is being replaced. Nevertheless, all this development is a testimony to the strength of University City.