In 2001, we began to reposition 18th and 19th century single user commercial buildings to include both commercial and residential spaces. Since then the scope and scale of our projects have increased substantially. By incorporating thoughtful design, restoration strategies, and historic tax credits, we preserve cultural and heritage rich assets that are in danger of demolition.
We believe that supporting local, independent neighborhood retail is of utmost importance. When done properly, neighborhood retail enhances vibrancy and diversity in the urban landscape. We have constructed and developed space for a variety of uses, including, cafes, restaurants, gyms, specialty fitness studios, salons, grocery, specialty boutiques, and co-working.
We develop, own and operate the full spectrum of multifamily buildings. Our current portfolio includes luxury, market, affordable, student, and specialty use assets. Most of these properties were acquired in distressed situations. We have invested more than $150M in the renovation, modernization, and preservation of multi-family buildings since the mid-1990s.
Eds, Meds, and Muni
We have substantial experience developing build-to-suit spaces for educational, medical, and municipal uses. Educational uses have included head start programs, pre-schools, K-12 schools, universities, and vocational programs for adults with special needs. Medical uses have included outpatient dialysis care, pediatric palliative care, hospice, and inpatient and outpatient behavioral health. Municipal uses have included ex-offender support, homeless placement, and specialty police and adjudication services.
We acquire legacy and functionally obsolete industrial buildings and reposition them to meet the needs of modern industrial tenants. Through design, remediation, and renovation, we have built spaces for distribution, light manufacturing, food handling and processing, warehousing, self-storage, and auto service centers.
We acquire and reposition properties into flagged and independent hotels, limited service short stay rentals, and long term full-service rentals. As owner and developer, we utilize our construction management team to ensure that design and efficiency standards are upheld and timelines for delivery are met.
We provide creative real estate solutions for non-profit entities. Strategies have included designing a build-to-suit space in our buildings, structuring joint ventures to develop specialty housing, implementing sale and leaseback structures, or negotiating and relocating non-profits to new space while acquiring its obsolete or underutilized real estate. Our current portfolio includes leases with more than thirty non-profit entities.
John Gloucester House
Location: 2147 Manton Street, Philadelphia PA Date of Completion: 2015 Description: We purchased the historic John Gloucester House building in Point Breeze, a rapidly gentrifying neighborhood. Instead of developing condominiums, we leased the property to two tenants: Montgomery Early Learning Centers (https://melc.org/), which operates a Head Start program and Bethanna (http://bethanna.org/), which operates a Community Umbrella Agency for the City of Philadelphia. We relocated the John Gloucester after-school and tutoring programs to a nearby building that we owned so that it could continue assisting local teens succeed in school and prepare for college.