It took a bit longer than expected, but ground has officially been broken and construction slated to begin on a cluster of LEED Platinum-certified townhomes on a vacant lot at 16th & Moore Streets, aptly dubbed reNewbold.
Eco-friendly developer Postgreen Homes has partnered up with ISA Architects, Valley Green Bank, and LPMG Companies (who helped bring South Philly Taproom and Ultimo Coffee to fruition) to get this project off the ground. Construction will be completed in two phases, with the initial stage focused on the development of six units along Bancroft Street, three of which are already reserved or under contract.
Customization is a big part of Postgreen Homes' philosophy, but all units will feature green roofs, roof decks, triple pane windows, open floorplan designs, Energy Star HVAC, and off-street parking. The monthly cost of utilities is expected to come in around $90 thanks to its green amenities. Additionally, a corner retail space will occupy the southwest corner of 16th & Moore Streets but a tenant hasn't been named just yet.
reNewbold will be Postgreen Homes' first project in South Philadelphia, as the bulk of its involvement lies in the Kensington and Fishtown neighborhoods. Additionally, this will be Philadelphia's first LEED Platinum-certified project below Washington Avenue.
"Today is truly a celebration," remarked Councilman Kenyatta Johnson, who was on hand for the groundbreaking ceremony. "Today represents for me not only why I believe in a vision for Philadelphia, but more importantly, a vision for a stronger South Philadelphia. This project represents not only progress for this area, but also economic development in the form of jobs, more tax revenue to support our cash-strapped school district, but more importantly, this project will focus solely on improving the quality of life in this area."
Considering the current development boom in nearby Point Breeze, many in the area are optimistic about the long-term future of Newbold being able to attract private investment through new businesses and projects like this one.
"Cities can't do everything for you," said John Longacre, President of LPMG Companies. "We have to be engaged civically and we have to get the business community on board to invest in neighborhoods like this. Taproom and Ultimo [are] proof that the business community can invest in neighborhoods that suffer from disinvestment and make money. The culmination of this project is really about neighborhood revitalization."
Curbed will keep you updated as this project progresses.
· reNewbold.com [Official]