With one tower wrapped up and another awaiting construction, a new, 10-story residential development in Logan Square is planning its official opening this month.
The Hamilton is a two-phase, $160 million project, which broke ground in the fall of 2017, and is about halfway through completion. One of the project’s two mixed-use, residential towers was completed last month, and developers are making finishing touches before a grand opening at the end of February, according to Dave Yeager, President and CEO of Radnor Property Group, which is behind the development.
They’re in the design stage for the second tower and plan to start construction on it at the end of this year, Yeager said.
The first tower is sticking true to the group’s original plans, offering 279 rooms for rent, along with amenities like an interior courtyard, communal lounge space, and smaller communal rooms for working or studying, according to Yeager.
He said the group has already seen a lot of interest in the place, especially from graduate students who want to live in the area while attending Temple, Drexel, or other Philly schools. Yeager estimated about 60 percent of the current residents are young professionals and the remaining are students.
That fits in line with what the group had planned for the building. In anticipation of lots of younger residents, Yeager said they aimed to offer more studio apartments than other residential buildings in the area, largely because of the cost benefit. A studio in The Hamilton runs between $1,300 and $1,750 for around 400 square feet of space—much less expensive than a two-bedroom which can hit $3,000 for 950 square feet.
“It’s important to get to a price point that’s more affordable for young professionals,” Yeager said. He added that about half of the units are one bedrooms and 30 percent are studios, while the remaining are two-bed spots.
For the next half of the development, he said they plan to focus on bringing more two-bed units, to appeal to residents who are eager to cut down on costs by living with a roommate. That tower is expected to have 297 apartments.
The first tower in the new development is expected to be unveiled at the grand opening on February 28. For now, you can check out the renderings of the inside of the first tower below:
- 10-story project The Hamilton, breaks ground [Curbed Philly]