Philadelphia developer boasts eco-friendly, affordable approach to housing
12/21/2012 | Real Estate Blog
Postgreen, a Philadelphia-area development company, reportedly has two projects coming soon to Frankford Avenue. Unlike some developers, though, Postgreen has an eco-friendly approach more typical of urban planning than real estate development. The projects, near the East Kensington/Fishtown border, will feature a mixed-use, affordable and energy-efficient approach, an ideal mix for a modern urban planner.
The larger development, to be called FRANK, will introduce 10 condos, probably in the mid-$200L range, and one or two commercial spaces to the 2400 block of Frankford Avenue next to Philadelphia Brewing Company. The other project, still unnamed, will be four apartments and a restaurant to the 2000 block of Frankford.
The buildings, as in all Postgreen’s development projects, will feature energy-efficient, modern green building practices while remaining moderately priced. Postgreen’s approach to development is aimed at eco-friendly, affordable, well-designed homes. The company has carved out a niche for itself in this way. In terms of condos, Postgreen shoots for the mid-200k range as a sort of “sweet spot.” With its unique approach, Postgreen is able to pass on savings to buyers.
An architectural firm is still coming up with the final designs for FRANK, and tenant agreements for the commercial spaces are still being worked out. The other development project is planned out already, and both projects are expected to officially break ground in the next several months.
Development is an exciting area to be involved in, particularly for those with unique approaches to the business. But navigating the legal landscape can be a challenge. Having an experienced attorney to work with on the legal aspects of the business is a great asset.
Source: Keystone Edge, “Postgreen: See What Philadelphia’s Modern Urban Planners Are Developing Next,” Greg Meckstroth, December 20, 2012