Let's agree that a car wash isn't the highest and best use for a 16K+ sqft lot just a couple blocks off of Penn's campus. And it seems that CRP Builders LLC agree with that sentiment, as these developers are intending to purchase the Wash N Lube at 4125 Chestnut St. and replace it with a 17-story building that we have to imagine will be used for student housing. This seems to us like a step in the right direction.
A few weeks ago, the property appeared on the Civic Design Review agenda for March but it quickly disappeared. Because nothing ever goes away forever on the internet, we were still able to pull up the CDR application, which provides some insight into the project and some renderings from KCA Design Associates. Check 'em out:
The project will include 240 apartments, 82 underground parking spaces, and retail space on the first and second floors. There will be a green roof on the building, a feature that will be usable for tenants and provide solid views of the city. The developers are also planning an outdoor public courtyard next to the building which looks like it will be nicely landscaped, though we question how much use it will get. The combination of underground parking, the public courtyard, and a plan to offer at least 24 of the units as "mixed income housing" will provide a number of height bonuses which will allow the project to proceed by-right. We couldn't tell you why the project got delayed at CDR, but once it goes before the board it will be able to proceed apace.
Without knowing anything about the local politics, this seems like an imminently reasonable proposal. Chestnut Street is quite wide and can handle the height, and we much prefer a taller, denser building as opposed to the smaller scale buildings we're seeing all over the neighborhood. By going vertical, these developers are able to defray the cost of underground parking, even though we're not sure that most students are coming to campus with cars these days. Also, there's an opportunity for a quality retail tenant in this building, which we've seen is possible just a block and a half away at the Hub buildings. With this building planned at double the height of the Hub buildings, perhaps we'll see other developers will consider taller structures on the fringes of Penn and Drexel in the future.
What do you think about this project?