(Read more on the multifamily market.)
PHILADELPHIA-By a unanimous vote, the Redevelopment Authority of Philadelphia has preliminarily selected a development dubbed East Village for its 1.6-acre former Rivage catering company site at 4300-4326 Ridge Ave. along Kelly Drive in East Falls. It is a $66.2-million, two-building, mixed-use project developed by Riverfront District Partners.
The development team consists of David Stubbs of locally based Ivary Towers Investments; Paul Horning of Devon Urban Advisors, which is headquartered in suburban Devon; and Ball Street Fund, which is the lead developer, based in Washington, DC and headed by Brian Davis and Christian Laettner. Silver Spring, MD-based Torti Gallas & Partners are the project's architects and land planners.
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