Line reBUILD Two New Projects

Transcription

Line reBUILD Two New Projects
Haute ProPerty estatements
Kathy, Patrick
& The Conway Team
conwayteam.com • kathy@conwayteam.com
215-266-1537 • 215-627-6005
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Senior Vice President
Financial Advisor
1650 Market Street
42nd Floor
Philadelphia, PA 19103
215-854-6041
stephen.r.schaeffer
@morganstanley.com
www.morganstanleyfa.com/
srschaeffer
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© 2014 Morgan Stanley Smith Barney LLC. Member SIPC.
CRC610744 FAS009 CS 7338795 03/13
used for both retail and commercial space. The project is led by Bohlin
Cywinski Jackson (BCJ), the brains behind the Apple retail stores, including the famed glass cube in Manhattan. BCJ has a Philadelphia office on
Broad Street, and it was entirely its local architects who worked on this new
property. “The glass architecture is going to be nothing like Philly has seen
before; it’s really going to pop on that corner,” says Michael Gorman,
senior agent and listing broker of Metro Commercial Real Estate, who is
handling the leasing aspect. The property will also offer 18-foot ceilings on
every floor. “It’s unlike any ceiling height in Philly,” says Gorman. “It’s contemporary and it’s world class. The architecture is different but will
certainly fit in and be a showplace for these retailers.”
One of the main tenants set to occupy the building is the Cheesecake
Factory, which will span the second floor. “[Its] entrance is off of Walnut
Street and is on the second floor; right as you walk in, you’re greeted with
an escalator. It is modeled after the Cheesecake Factory in The Grove in
Los Angeles,” says Gorman. The ground floor is set to hold one or two
retailers, and there’s a third floor of commercial space, which has its own
private door access. “Verizon has signed the lease on part of the ground
floor,” says Gorman. “There’s space left along 15th Street totaling 2,365
square feet left over with a dedicated entrance. A bunch of different
tenants have interest. We are trying to work through what works best
with the space; it might be retail, office space, or even a fitness facility.”
The projected opening to the public is the summer of 2015.
Center City is on the rise, but the suburbs aren’t falling far behind. Main
Line ReBuild has two new projects to add to its growing list of revamped
properties. The first is Gladwyne Commons (310–324 Righters Mill
Road, Gladwyne; mainlinerebuild.com), located in the village of Gladwyne.
The property is split into five categories, with eight total properties, each
featuring upscale residences ranging from 1,500 to 3,000 square feet.
The smallest properties are located in The Parsonage Building, where
you will find 1,500-square-foot townhouses. The renovated spaces are
complete with three bedrooms, two baths, and off-street parking. Fellows
Hall holds two of the units in Gladwyne Commons and comes with elevators to take you to all three stories of the unit and a two-car detached
garage. The Drake and the Chatham are both single-family homes settling
photography by DaS architectS, inc. oppoSite page: DenniS wiSe
OUR RECORD SPEAKS FOR ITSELF.
The boutique Hudson Hotel is
set to revitalize the hospitality
offerings surrounding Rittenhouse
Square upon opening in 2016.
at 2,600 square feet. Each home has three bedrooms, two and a half baths,
a full unfinished basement, and an attached two-car garage. The fifth
property, Righters Mill Place, is a former church converted into two homes,
each with three bedrooms, two and a half baths, and a two-car garage.
Main Line ReBuild’s second project is up the road in Ardmore. The
Ardmore Baptist Church will be renovated to become Arbors at
Athens (120 E. Athens Ave., Ardmore; mainlinerebuild.com), a five-unit condominium complex. “We have a lot of experience in dealing with older
structures, some dating to the late 1700s, but an almost 100-year-old
church does provide some challenges,” says Scott Brehman, principal
and partner with Main Line ReBuild. “How to deal with and take advantage of the soaring spaces, how to convert the different levels into living
space, and how to bring in natural light through the stained-glass windows are all interesting challenges.”
Main Line ReBuild seeks to convert old churches and buildings while
still maintaining their historical elements. Many of the existing elements
will stay in place, creating unique properties that are full of tradition and
modernization. The Arbors at Athens will keep some of the stained glass,
stone, and natural light from the original church. “The Athens Avenue
Church was constructed out of all stone, which is an incredible material to
work with. We were able to get second floors up into the soaring spaces for
our units to utilize that space,” says Brehman. “With regard to the stainedglass windows, we are working with an incredible outside contractor with
many years of experience to allow us to keep the existing frame and some
of the existing stained glass in place, while adapting the perimeter of the
stained-glass area itself to allow for natural light to come in.”
Brehman and his team are also using the existing structure to create
modern amenities like an updated parking garage. “What we are finding
very interesting with regard to the design element is that we can utilize
the lowest level of the church to accommodate our parking,” says
Brehman. “We excavate out a sidewall to allow for access into this level
and then bring in a driveway from the outside. This allows us to avoid any
surface-level garages, which keeps the sight lines the way the community
is accustomed to seeing the site. In addition, our buyers appreciate connected parking into their units. [It’s a] win-win for all parties.” PS
… river location
… city views
… infinite elegance
Fitness center/gym | 24/7 Concierge | Heated indoor pool
Indoor parking | Private shuttle | Steps from Penn’s Landing
1 BRs from the upper-$200s | 2 BRs from the low-$400s | 3 BRs from the low-$800s
The Parsonage, one of Main Line
ReBuild’s eight revamped properties
in Gladwyne Commons, houses two
1,500-square-foot townhomes.
717 South Columbus Blvd. Philadelphia, PA 19147
215-925-3000 | www.docksidecondominiums.com
Sales Center Hours
Mon.– Sat., 10am – 5 pm; Sun. 12pm – 5pm
Another Fine Property from The DePaul Group
Broker Cooperation Invited.