On September 27, 2018, RAL Development Services broke ground for 1300 Fairmount, a 14-story, 624,575 square foot mixed-use property. From left: Violet Foster, 14th Ward RCO Committee member; Diane Monroe, Chairperson of 14th Ward RCO; Philip Murray, JD, from State Rep; W; Curtis Thomas' Office; Mark Seawright, 14th Ward RCO Committee member; Muriel Taylor, 14th Ward Committee Person; Arthur Green, 14th Ward Leader; City Council President Darrell Clark; Robert Levine, RAL Development Services; Spencer Levine, RAL Development Services; Stuart Taft, RAL Development Services; Joshua Wein, RAL Development Services; Vincent Cangelosi, RAL Development Services; David Sarner, Bank OZK; Michael Tsandilas, Suffolk Ventures
PHILADELPHIA, PA—RAL Development Services has broken ground for 1300 Fairmount, a 14-story, 624,575 square foot mixed-use property designed by Philadelphia's Cope Linder Associates.
The property is positioned at the intersection of several significant historic and developing neighborhoods, and will include 478 rental apartments (studio, one-bedroom, two-bedroom and three-bedroom layouts), and 58,759 leasable square feet of retail space. The building has direct access to the Broad Street subway line at the Fairmount station as well as multiple bus routes.
The groundbreaking “is a momentous occasion for RAL and the City of Philadelphia as we are confident 1300 Fairmount Avenue will be key to the area's ongoing growth and success,” says Spencer Levine, Managing Director of RAL. “We are thrilled to have the full support of local officials and look forward to what this transformative project will provide for the neighborhood.”
RAL Development Services had previously announced the pre-lease of 38,000 square feet of commercial space at 1300 Fairmount Avenue. Nobel Learning Communities, a national network of 200 private schools throughout the country, has pre-leased a space of 12,488 square feet in the property. Nobel plans to open a Chesterbrook Academy Preschool, providing high-caliber early childhood education to children of parents who live and work in and around the Fairmount neighborhood.
Aldi, a leader in the grocery retailing industry, has pre-leased 25,427 square feet of retail space in the project for a much-needed grocery store that will provide healthy and affordable groceries to the growing neighborhood.
“I'm pleased to welcome a new development that will not only provide housing opportunities, but will also serve the entire community,” City Council president Darrell L. Clarke says. “The addition of an Aldi and Chesterbrook Academy Preschool will fill a growing need and create jobs. Once completed, 1300 Fairmount will be an important anchor for an increasingly vibrant and attractive section of North Broad.”
The project's retail space is located in the base, along with two levels of ample parking with a capacity for 292 cars. 1300 Fairmount's residential units start on the fourth floor and up, providing unobstructed views to residents, including views of Center City Philadelphia for a significant number of units.
Portions of 1300 Fairmount are expected to begin opening in early 2020.
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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].
