Phase II of reNewbold, the cluster of LEED Platinum-certified townhomes on the former home of the Francis M. Drexel School, is now nearing completion. Aptly-named reNewbold II, the second phase of the wildly successful development in South Philadelphia added seven new row homes, two new condos, and one retail space at 16th and Moore.
LPMG Companies (who helped bring South Philly Taproom and Ultimo Coffee to fruition) helped get this project off the ground. The initial phase focused on the development of six units along Bancroft Street, each of which is now sold.
Phase II of the first LEED Platinum-certified development in South Philly broke ground in September 2014, after Phase I was completed and sold out. Row homes are three stories, each with three bedrooms, two baths, and finished basements. Condos are located above the retail space on the second and third floors. Priced from the mid $200s (Johnny McDonald of Onion Flats is serving as realtor to the project), reNewbold homes feature on-site parking, green roof decks with 360-degree city views, and private terraces off the master bedrooms. The homes are built with energy efficient appliances, lighting, HVAC, and water heater, low VOC materials, a rainwater harvesting system, and triple pane insulated windows to reduce utility costs by up to 60 percent. In fact, the monthly cost of utilities is expected to come in around $90.
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."
· reNewbold Officially Breaks Ground in South Philly [Curbed Philly]
· Postgreen Homes Introduces Most Excellent Duplexcellence II [Curbed Philly]
· ReNewbold [Official Website]