PHILADELPHIA, PA—Developer Eric Blumenfeld will begin renovation soon to turn the landmark Thaddeus Stevens School into a luxury rental complex called the Mural Arts Lofts building.
Procida Funding's 100 Mile Fund is making a $16.2 million construction loan for the project, which will renovate the historic site into 56 loft-style apartments featuring many of the original architectural elements such as the chalkboards, window details and the historic wood cabinetry. This project is just part of Blumenfeld's continued efforts to transform the North Broad Corridor section of Philadelphia.
"The architectural detail from the original design blended with a modern interpretation of loft style living will be interwoven together in an elegant way creating some of the most charming residential living opportunities yet to be presented in the Philly real estate market," says Blumenfeld. "I am thrilled to have the support, dedication and wherewithal of a great man like Billy Procida and his amazing organization supporting us in our efforts. Billy is a pioneer and although sometimes he drives me crazy, I love him like a brother and I admire his passion."
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
