Work will begin in June 2015 on the Marketplace Design Center, converting the spacious property — purchased by PMC Property Group and Lubert-Adler for $42 million earlier this year — into a mixed-use building to include office and retail space, a hotel, apartments, and a reconfigured showcase for interior designers.
Jonathan Stavin, PMC's executive vice president, is particularly enthusiastic about the apartment offerings: of the 300 apartments planned for this development, 30 will be three-bedroom units, setting it apart from other residential construction in the vicinity and other PMC projects to date. Typically, "we're the company that provides your first apartment," he says, but these three-bedroom apartments will be aimed at those entering the next stage or two of life: not only families with children, but also young adults who have opened their home to an elderly relative. Because a modern family comes in all shapes and sizes. Also because Millennials.
· Marketplace Design Center sells for $42M [PBJ]
· New Millennial, Philly [Curbed Philly]
- Megan Ritchie Jooste