The 16-Story Residential Tower is the Newest Addition to the University City Skyline
PHILADELPHIA, PA: NOVEVEMBER 2, 2017 – Radnor Property Group LLC is celebrating the official grand opening of Vue32, the sleek new $56 million residential tower built on Drexel-owned land. Designed by Erdy McHenry Architecture, the 16-story, 176,000+ square foot tower is comprised of 164 apartments; 12 market-rate, for-sale townhomes; Chesterbrook Academy, a fully-accredited preschool; and a community plaza with spectacular views of Center City.
Radnor Property Group has proven to be a leader in developments with complex financial structuring, as seen most recently with University City’s 3737 Chestnut (which garnered the company the coveted Urban Land Institute’s Willard G. “Bill” Rouse III Awards for Excellence) and the upcoming re-development project The Hamilton. Vue32 is structured as a public-private partnership with Drexel University; a niche development arrangement which is an expertise of Radnor Property Group that involves partnering with private institutions, resulting in mutually-beneficial results. Vue32 comes at a significant time for University City, as billion-dollar development plans are currently underway for the area, which is home to several esteemed colleges and universities.
“We are excited about the growth of the University City area, and thoughtfully planned Vue32 as a direct response to the needs of this booming neighborhood’s evolving demographic,” says Dave Yeager, President of Radnor Property Group. “Vue32’s unique amenities were strategically created to align with the growth of University City, anticipating the need for quality childcare, and a wide range of unit sizes to accommodate varied lifestyle demands.”
Vue32, located at 3201 Race St. will provide University City professionals and graduate students with one of the city’s most unique views, overlooking downtown Center City as well as the 30th Street Station rail yard. The building’s ground floor also features Chesterbrook Academy, a fully-accredited preschool which can accommodate up to 180 students.
“We are proud to offer our graduate students, faculty and staff this new offering that caters to a different set of lifestyle needs.” Said John Fry, President of Drexel University. “We understand that quality housing is key to retaining the diverse talent that our University cultivates.”
Apartments are available as studios, junior one-bedroom, one-bedroom, two-bedroom and three-bedroom units that range in price from $1,700 for a 494-square-foot junior one-bedroom to $5,100 for a 1,495-square-foot three-bedroom rental. The building offers features such as 9-foot ceilings and floor-to-ceiling windows, and a variety of amenities to residents, including:
• Fitness center
• Community room with fully equipped kitchen
• Billiards and game room
• A rooftop deck with landscaping
• Fire pit and outdoor cooking facilities
• Conference room
• Think space and lobby gathering areas
• Secure parking garage under the building at grade level
Vue32 is managed and leased by Bozzuto Management Company, who this year won the National Association of Homebuilders’ “Multifamily Development Firm of the Year.” Headquartered in Greenbelt, M.D., Bozzuto is one of the industry’s pre-eminent home and community managers with locations throughout the Mid-Atlantic, Northeast, Chicago and Atlanta with more than 50,000 apartments in 200 communities.