20C — March 19 - April 15, 2021 — The Best of 2020 — M id A tlantic Real Estate Journal
www.marej.com
The BEST LARGEST STUDENT HOUSING PROJECT of 2020
Kinsley Construction, Inc. Aspen Heights Baltimore, MD
The Kislak Company, Inc. Moravian Student Housing Portfolio
Rittenhouse Realty Advisors The LVL Philadelphia, PA
Bethlehem, PA Size: 26 beds in 6 homes
Size: 76,698± s/f The LVL 4125 is a 141 unit building that was developed by Alterra Property Group and is one of the largest modu- lar housing developments ever built in the Mid Atlantic. Construction was completed in 2019, and the property has ten years left on the tax abatement. The units have luxury finishes with stainless steel appliances, in-unit washers and dryers, a roof deck, a gym, a club room, quite rooms, and dog run. The sale of this property was negotiated at the onset of CO- VID-19. University City has grown exponentially in recent years into a science and technology start-up hub, making it increasingly attractive to investors. A state-of-the-art commercial lab and office building, known as 3.0 University Place, is being constructed nearby, which was a huge selling point in marketing The LVL. Multi-Family. Mixed-Use. Development. FOR SALE
The portfolio is comprised of six contiguous buildings and 26 beds adjacent to Moravian College’s main campus at 128 and 130 Frankford St.; 1025 Orchard St. and 1026, 1028 and 1032 Monocacy St. Positioned just steps from campus, the buildings are exceptionally well-located and are the closest off-campus housing option available to stu - dents. At the time of sale it was the largest off-campus stu - dent housing portfolio at Moravian College. Each building has undergone a complete, top-to-bottom reno. prior to being delivered to students, benefitting from $565K in major capital improvements inclusive of energy-efficient win - dows, light fixtures, stainless steel appliances, wall-mounted gas boilers and hot water heaters and laundry systems for each unit, among other upgrades to kitchens and bathrooms.
Size: 498,400 s/f Kinsley constructed this new 15-story student hous- ing facility adjacent to Towson University. It contains 248 residential units; four levels of parking; a 12,000 s/f courtyard with movie wall, fire pits, full kitchen and lighted game area; 11,000 s/f of retail space; 9,000 s/f of amenity space, including a fitness center with tanning beds, an exercise room and four lounges; and multiple green roofs. Located in the heart of Towson, this project was surrounded by heavy traffic, multiple adjacent busi - nesses, a State road and a stream. The building’s giant footprint left less than 5% of the site for material and crane laydown.
DEVELOPMENTSITE
DEVELOPMENTSITE OPPORTUNITYZONE
3.46-AcreParcelonBroadStreet SportsComplexArea-Philadelphia,PA
18Apartments Merchantville,NJ
DEVELOPMENTSITE
STUDENTHOUSING
286Apartments+Commercial+Parking Fishtown/SouthKensington Philadelphia,PA
Build63Apartments+Commercial+Pkg Opportunity Zone-CMX-3 CenterCity-Philadelphia,PA
303Bedrooms/87Units TempleUniversity-Philadelphia,PA
STUDENTHOUSING
Rittenhouse Realty Advisors 107 S. 2nd Street, 4th Floor Philadelphia, PA 19106 Call formore information! ph. 215.454.2852 info@rittenhouserealty.com
32LoftApartments SouthKensington-Philadelphia,PA
15Apartments SpruceHill -Philadelphia,PA
50Bedrooms/30Apartments DrexelUniversity -Philadelphia,PA
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