West Philadelphia developer Haverford Square Properties has presented a proposal for a new 160-unit apartment complex in Southwest Philadelphia, writes Jake Blumgart for The Philadelphia Inquirer.
While the majority of the units along Chester Avenue would be two new apartment buildings, but the stone building that previously housed the St. Divine Mercy School would host 35 units.
Haverford Square’s president German Yakubov noted that there hasn’t been any new apartment buildings in the area in quite a while.
“It is a lot of homeowners, so there is not a lot of opportunity for apartment living, and we felt there is a market for that.” Yakubov said.
Haverford Square purchased the Southwest Philadelphia property for $2.5 million in 2022, according to a Fox & Roach Realtors webpage.
The property once belonged to the Archdiocese of Philadelphia.
The building that Haverford is turning into one of its apartment structures not being protected by local preservation regulations.
Yakubov and his team are excited about repurposing it rather than allowing it to get demolished. They are set on keeping it as a part of the neighborhood.
The 35 units in the smaller building should be completed by early summer. Meanwhile, construction for the other two is expected to begin in about a year.
Read more about the newly-proposed Southwest Philly apartment complex in The Philadelphia Inquirer.
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