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Historic Alden Park Apartments to Undergo $60M Renovation

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The community is known for once being the home of Grace Kelly

A historic apartment community in Wissahickon Park that was once the home of Grace Kelly has begun a $60 million renovation to upgrade its units and amenities with modern finishes and appliances.

Alden Park, a 38-acre property with three Jacobean Revival-style apartment towers, was built in 1929 and was recently acquired by NY-based L3C Capital Partners. The firm will lead the two-year-long renovations, which will include upgrades to its studio, 1-, 2-, 3-, and 4-bedroom units. Some renovated units are already available.

Also set to get a makeover are the community amenities, including the indoor pool that features a retractable roof. They'll also add a dog park, an outdoor pool, fitness center, an outdoor kitchen, tennis courts, and clubrooms.

Creative agency At Media is behind Alden Park's new branding. CEO Antoinette Marie Johnson said in a press release that the goal of the renovation is to emphasize its "vacation-like atmosphere."

It's not the first time Alden Park, which is on the National Register of Historic Places, has undergone a renovation. In the late 1990s it underwent a $35 million renovation to restore the historic buildings' facades, turrets, bay windows, and balconies.

The entire property includes 764 units, which after the renovations will range from $1,078 for a studio to $3,726 for a 4-bedroom, 3-bath unit.

Editors note: This article has been updated to reflect new rental prices based on the renovations. Previously, the article noted that rents ranged from $775 to $2,675.