Officials broke ground on a $100 million student residence project on the grounds of the former John Wanamaker School at 12th Street and Montgomery Avenue on Nov. 19.
The 14-story, 832-bed facility began construction and will be completed for Fall 2014.
“We are confident that this new complex will fill a critical need for secure, stylish, and affordable residences for Temple University students,” said Ken Goldenberg, president and CEO of the Goldenberg Group, in a press release. “The Goldenberg Group’s strong track record of completing developments that have transformed neighborhoods and changed lives supports this vision.”
The site was bought by the Goldenberg Group and Bridge of Hope Community Development Corporation — a branch of Bright Hope Baptist Church — in 2008 for $10.75 million from the Philadelphia School District.
The residence will house 238 studio, one and two bedroom apartments on floors two through 13, furnished with flat-screen televisions. The first floor contains 11,000 square feet of retail space, while the top floor will have a club lounge. There will also be 80 on-site parking spots for the residence.
The group was awarded a $6 million Redevelopment Assistance Capital Program grant in August 2011 to assist with funding for the project.
Sean Carlin can be reached at firstname.lastname@example.org or on Twitter@SeanCarlin84.