Surge of Phase II leasing activity follows the immense success of Phase I of the expansive multi-family tower
June 30, 2021 (Philadelphia, Pa.) – Radnor Property Group announced today the completion and opening of Phase II of The Hamilton, the innovative mixed-use urban development, located at 15th and Hamilton Streets, on the site of the former Philadelphia Inquirer paper transfer facility and Baldwin Locomotive Works.
The completion of the 228,000 square foot Phase II tower of The Hamilton introduces 297 high quality Class A, market-rate apartments designed to cater to the area’s young professional segment and educational centers. Following the great reception and major successes of leasing Phase I, Radnor Property Group broke ground on Phase II of this expansive project in January of 2020, ahead of original projections.
“We saw unprecedented success in the lease up of Phase I of The Hamilton, and we were very excited to commence Phase II. While the pandemic certainly introduced challenges, we were able to forge ahead and deliver Phase II on schedule,” said David Yeager, CEO and Managing Partner of Radnor Property Group. “As we open the doors of the Phase II tower, in tandem with the City of Philadelphia reopening, we are seeing a surge of leasing activity mirroring the success we experienced with Phase I. This has been such an exciting and iconic project that we were proud to develop alongside our land partners at Community College of Philadelphia. We’re thrilled to mark its completion and deliver a desirable living community to so many Philadelphians.”
Following 2020, the spaces people call home have a newfound importance and there remains a continued appreciation for thoughtfully designed interiors with careful attention to detail, accessible outdoor space, pet-friendly amenities, and touchless technology, all of which The Phase II tower delivers.
The Phase II tower stands at 17 stories, seven stories taller than the Phase I tower, and features incredible views of the city skyline. Atop the building, residents will have access to an expansive roof deck with grills, TVs and a sundeck, perfect for relaxing or entertaining. On the ground level, a private landscaped courtyard, perfect for intimate and festive gatherings, includes fire pits, and gas grills. The new tower also features amenities including a dog wash, sports simulator, a high-tech fitness facility with rooms outfit for yoga and cross fit, a club lounge with a fully equipped kitchen and fireplace, billiard and game room, conference rooms, think spaces, a coffee bar, green roofs, and secure underground parking.
The nearly 300 residences in The Hamilton Phase II tower range from 330 square foot studio apartments to 1,230 square foot two-bedroom units with a terrace. As a direct result of the demand experienced in the lease-up of the Phase I tower, the Phase II tower will feature an increased number of two-bedroom apartments – the most popular layout among renters at The Hamilton. “Radnor has a long history of developing apartments in Philadelphia and throughout the MidAtlantic Region, we are excited to continue to refine our Smart A product to meet the expectations of our residents from both a quality and price point” continued Yeager.
Each residence features keyless door entry enhancing ease of accessibility as well as health and safety. Upon entering each unit, residents are greeted by vast nine-foot ceilings and oversized windows creating light filled rooms, while framing stunning panoramic views across the city. The interiors feature updated modern materials and a warm grey scheme for the finishes. Each kitchen features top-of-the-line GE stainless steel appliances, contemporary cabinets, quartz countertops and Grohe fixtures creating a stylish and luxurious space. The bathrooms will also boast modern finishes including quartz vanity counter tops and porcelain floor and wall tile. Units will also feature generous sized closets and stacked laundry equipment.
The opening of the Phase II tower will officially mark the completion of Phases I and II of The Hamilton, which first broke ground in September 2017. In total, the two towers that comprise the innovative $150 million urban development, stand at over 500,000 square feet and introduce a combined 600 apartments designed for the area’s professional segment as well as well as those pursuing higher education or careers in the medical field. Radnor Property Group CEO and Managing Partner, David Yeager, has been praised for his thoughtful development, as Radnor Property Group has proven to be a leader in projects with complex financial structuring, specifically in the growing “Eds and Meds” realm.
About Radnor Property Group: Radnor Property Group (“Radnor”) is a leading, privately-held real estate company which specializes in the development of multi-family, mixed-use and student housing projects of all sizes and types. Founded in 1999, Radnor has actively developed, advised on, or acted as a consultant to projects valued at approximately $2 billion. Radnor focuses on development projects primarily in the Educational & Medical growth corridors, often involving public-private partnerships with non-profit institutions such as colleges, universities, hospital systems and religious organizations. Radnor is headquartered in Wayne, PA with a regional office in Hanover, NH. For more information, visit www.radnorproperty.com.