18C — March 30 - April 12, 2018 — The Best of 2017 — M id A tlantic

Real Estate Journal


The Best Student Housing Project of 2017 Benchmark Construction Dickinson College High Street Residence Hall Rittenhouse Realty Advisors The Lexington and Florance Gardens The Goldenberg Group The View- Phase II Philadelphia, PA

The Lexington

Florance Gardens

City, State: Philadelphia, PA Size: 55,784 ± SF

Brokers: Ken Wellar, Corey Lonberger, Mark, Duszak The University City area has outstanding occupancy of 98% to 100%. The Clark Park section is unique in the sub- market as most of its rental housing stock consists of con- verted single-family homes and only a few vintage apart- ment complexes. Although occupancy is nearly 100% in this area, rental rates are almost 200% less than the new construction just 8 blocks away in the campus section of University City. Situated along Chester Avenue between 42nd and 43rd Streets, The Lexington occupies a unique and desirable location near the popular Clark Park. Resi- dents enjoy the benefit of being within walking distance to universities, employers and 30th Street Station (Philadel- phia transportation hub for SEPTA and Amtrak).

Size: 470,000 SF In September 2017, building on the success of The View at Montgomery on the edge of Temple University’s cam- pus, The Goldenberg Group began construction on a $199 million student housing community. This 470,000 SF mixed-use companion development located at 12th Street and Cecil B. Moore Avenue will feature 984 beds, best-in- class amenities, and panoramic views of the Philadelphia skyline. Upon completion of this second and final phase of development, this resort-style student housing community will provide more than 1,800 beds and 40,000 square feet of retail, restaurant and commercial space serving Temple University’s growing undergraduate, graduate and inter- national student population.

City, State: Carlisle, PA Size: 40,000 SF

The four-story, 140 student residence hall is the newest addition to Dickinson College’s on-campus housing. In accordance with Dickinson College’s strong culture of sustainability, the new High Street Residence Hall is being designed and constructed with a goal of obtaining LEED Platinum for Homes. The exterior façade of the building is a combination of zinc panels and locally quarried lime- stone which will tie the new modern residence living hall into the rich architecture of the campus which dates back to 1783. The interior of the building provides suite living accommodations and study spaces which encourage an or- ganic collaborative learning environment.

Winner of two Mid Atlantic Real Estate Journal Awards: • Best Student Housing Project • Giving Back

development. community. philanthropy.


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