Radnor Property Group Breaks Ground on The Hamilton – Phase II
February 5, 2020 (Philadelphia, P.A.) Radnor Property Group officially commenced construction on the second phase of The Hamilton, an innovative mixed-use development located at 15th and Hamilton Streets. Conceived by project developer and owner, Radnor Property Group, the $175 million, 500,000 square foot urban development, located steps from the Community College of Philadelphia’s Main Campus, will bring an additional 297 market-rate apartments for a total of 576 units, designed to cater to the area’s professional segment and the educational centers. The $82 million first phase of The Hamilton, completed in Fall of 2019, consists of a 279-apartment tower constructed on top of a former Philadelphia Inquirer paper transfer facility. The project was designed by MY Architecture. This development continues to advance Radnor Property Group’s business focus on projects in the growing “Eds and Meds” realm in urban communities. As seen in its other Philadelphia projects, 3737 Chestnut and Vue 32, and recent developments in partnership with Lafayette College and Duquesne University, Radnor Property Group works with universities and other private institutions to develop projects with mutually-beneficial results for all parties. “We are thrilled to start Phase II of The Hamilton to provide quality and amenity-driven living environments at a reasonable price point for our residents”, says Dave Yeager, Managing Partner and Founder of Radnor Property Group.
This collaboration between Radnor Property Group and Community College of Philadelphia via a long-term ground lease agreement will bring thoughtfully efficient housing to Philadelphians at a competitive rate. Residents will be in walking distance to the heart of the city, including the Comcast Innovation & Technology Center, Logan Square and the Art Museum. The second phase of The Hamilton will feature an enlarged private courtyard for gatherings, with mature landscaping, fire pits and gas grills. The building will also feature an expansive rooftop deck with spectacular views of downtown, an expanded fitness center, yoga room and private spaces for group training and spin classes; a club lounge with a fully equipped kitchen and fireplace; conference rooms; a billiards and game room with sports simulator; a coffee bar and think space; and a secure underground parking garage. The ground floor includes 3,000 sf of retail along 15th Street.
Completion of the project is scheduled for Fall 2021.
Radnor Property Group LLC:
Radnor Property Group LLC (“Radnor”) of Wayne, PA, is a real estate development company whose leadership spans over 30 years with a specialty in profitable complex urban multi-family and mixed-use development projects of all sizes and types. In addition to conventional development transactions Radnor forms public-private partnerships known as P3s with non-profit institutions such as colleges, universities and religious organizations realizing profitable developments by capitalizing on the synergies provided by these well-established organizations. This expertise has enabled Radnor to compete in thriving educational and medical service locations known as “eds and meds” with a reputation of working closely with its “public” partners in executing a development strategy.