Seventy-five new apartments to be developed in a repurposed warehouse in an unconventional area of Kensington.
A new 75-unit apartment complex is set to emerge at 3408 B Street in Kensington, marking a significant development in the local real estate landscape. The initiative, led by Dwight City Group, aims to repurpose an existing two-story structure that once served as a warehouse, transforming it into a six-story residential building.
Situated in the northwestern segment of Kensington, the project seeks to cater to residents looking for modern housing options within the neighborhood, particularly targeting those currently displaced by a scarcity of new, smaller units. The CEO of Dwight City Group has noted that the local housing market has not witnessed new inventory for an extended period, indicating a pressing need for accommodation that this project hopes to fulfill.
The proposal presented to the Philadelphia Planning Commission highlights that approximately 2,500 cubic yards of waste will be diverted from landfills due to the preservation of the former warehouse’s exterior. This commitment to sustainability underlines the developer’s dedication to responsible building practices.
The apartment complex will feature 60 one-bedroom units and 15 two-bedroom units, along with 38 designated parking spaces. All apartments will be equipped with modern amenities, including in-unit washers and dryers as well as central air conditioning, ensuring a comfortable living environment for future residents. Market rents are expected to range from ,100 to ,200 for one-bedroom units and from ,250 to ,400 for two-bedroom apartments.
Dwight City Group, a New York-based developer with a presence in Upper Darby, has a track record of successful adaptive reuse projects throughout Philadelphia and its surrounding suburbs. Recent ambitions include acquiring additional properties in Center City, such as former University of the Arts facilities and the Hahnemann Hospital site. The developer’s project today is consistent with previous projects aimed at revitalizing urban areas while providing affordable housing.
Despite challenges posed by high interest rates and a tumultuous federal policy landscape, Dwight City Group continues to make strides in its development efforts. This resilience has been aided by backing from Dwight Capital, a prominent national mortgage lender with a focus on subsidized affordable housing.
Currently, the B Street property is zoned for industrial use, granting permits for 50 apartments. However, Dwight City Group is seeking additional permits to facilitate the construction of a larger building with more residential units and significantly increased parking availability—an essential amenity in the densely populated area. The developer continues to engage with neighborhood groups to secure community support for the proposed project as it moves forward.
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