Community Ventures has closed on their most recent new mixed-use development, Centennial Village. Located in the West Parkside neighborhood, the project will revitalize the 1700 block of N 52nd Street between the ParkWest Town Center shopping center and the Mann Center in Fairmount Park. KSK Architects Planners Historians designed the development, while Stantec provided civil engineering services. Allied Construction will act as the general contractor overseeing the one-year construction project. Community Ventures planned Centennial Village in partnership with Parkside Association of Philadelphia, the local neighborhood organization, with whom they also partnered to renovated 27 homeownership and rental units in 2006. The City of Philadelphia Division of Housing & Community Development, the Philadelphia Redevelopment Authority, the West Philadelphia Empowerment Zone, the Commerce Department and the Philadelphia Housing Authority have provided significant operating support. PNC Bank is providing a major equity investment based on Low income Housing Tax Credits (LIHTC) allocated by Pennsylvania Housing Finance Agency.
“The Centennial Village development is much more than a new building; the development will revitalize the West Parkside neighborhood, remove all signs of vacancy within these two blocks and provide critical affordable housing to neighborhood residents,” said Program Director Troy Hannigan, Assoc. AIA. “The goal is to attract commercial tenants that will not only benefit local residents but will also draw others, including Mann Center patrons, into the West Parkside neighborhood to eat and shop.”
The Centennial Village development totals 72,209 square feet including 52 new residential units over 16 buildings and 8,372 square feet of new commercial space. The development includes a 30-unit apartment building containing a community room, a rental management office and commercial space on the west side of 52nd St. The apartment building is designed to accommodate seniors and those with special needs. The east side of 52nd St includes a mixed-use building, four single family homes and the rehabilitation of what was formerly a corner bar. The remaining units are scattered throughout the surrounding neighborhood, including both rehabilitation and new construction of single-family homes. The units will be affordable to persons whose income is below 20% and up to 60% of the area median income level. The development also includes the preservation and renovation of a significant community park and garden. Four commercial spaces are included in the development including a new office for our community partner, Parkside Association of Philadelphia.
KSK Architects’ design includes a mix of traditional and contemporary new construction that respects the neighborhood’s rich architectural past but also creates a modern anchor for the neighborhood with the use of brick and metal panel. All of the buildings in the development will be highly energy efficient and will meet Energy Star 3.0. The two largest buildings will feature solar panels to offset the development’s energy consumption.
There will be a ribbon cutting for the development in the fall of 2017. Click here for full press release.