Developer RREI LLC, run by the father-son team of Neal and Victor Rodin, has announced the completion of the $16 million purchase of the 105,899-square-foot lot at 501 Spring Garden Street (aka 501-39 Spring Garden Street) in Northern Liberties, North Philadelphia, where they plan to construct a large mixed-use project. Designed by BLT Architects, the 13-story building will feature 382 residences and 60,810 square feet of retail, as well as 211 parking spaces. The acquisition was complicated by the site’s ownership being split between 11 different entities, and took five years to complete as the result. Having finally completed the transaction, the team is ready for the next steps in adding this important project to the up-and-coming neighborhood.
501 Spring Garden Street
No signs of construction have yet been observed at the site of a major apartment building proposed at 501 Spring Garden Street in the booming Northern Liberties neighborhood in North Philadelphia. Designed by Bower Lewis Thrower Architects and developed by Neal and Victor Rodin, the structure will stand 153 feet and 13 stories tall and will feature 373 apartments as well as abundant retail space at the ground floor.
Spring Garden Street has seen a number of proposals in recent months, such as 501 Spring Garden Street in Northern Liberties. Bower Lewis Thrower Architects is the designer and Neal and Victor Rodin are the developers behind the 153-foot, 13-story high-rise, which will feature retail at the ground floor and 382 apartments above. The proposal, which was unveiled in the beginning of the year, will replace a strip mall and add much-needed density to the neighborhood.