University City has exploded with development and rent increases over the past few years, but is there a luxury condo and rental market in a neighborhood dominated by creaky Victorians and affordable student housing? The developers behind the 4224 Baltimore project (located right next to Clark Park) are about to find out.
The developers say that apartments will cost between $1,700 and $2,000 per month, and that condos will go for about $450 per square foot. While home sales in the area are brisk, a typical University City home sells for far less than $450 per square foot.
Neighbors are concerned that the aesthetic of the building is out of step with the rest of the neighborhood. Though developers say they want to build using modern technology and avoid attempting to create a faux version of an earlier architectural style, it's true that this building would be a huge break from the typical West Philly architectural style. Will the glassy architecture attract luxury renters and buyers? The only answer will come when this property starts trying to find buyers and residents.
· New plan for 43rd and Baltimore includes 132 condos/apartments, stone panels and a fitness center [West Philly Local]