ReNewbold, the long-promised green development at 16th and Moore, is finally about to get under way.
About two years after the project was announced, developer John Longacre of LPMG Companies told us last week that the architects believe they’re about 30 days away from securing permits.
“So I expect the groundbreaking could be 30 to 45 days,” said Longacre, who owns the nearby South Philly Tap Room, American Sardine Bar and Brew/Ultimo coffee.
We noticed last week that the two-story properties were on the market and checked in with the realtor, who said they were finally able to secure financing.
So, what took so long?
“The nature of the parcel was very complicated,” Longacre said. “There were tax liens, private liens, so the process of getting a clean title was incredibly complicated.”
The project, which is the largest private investment in that part of South Philly in 50 years, will also be the largest LEED Platinum-certified residential development in the city once it’s finished. It’s being built in conjunction with Postgreen, which grabbed headlines for its work mostly in Fishtown, including the $100k house and Skinny Project.
The 18-home project will be built in three phases. “We want to deliver first phase before summer,” Longacre said of the four three story homes that front Bancroft Street. Three of those have already sold, and when the fourth does, they’ll move on to the 12 two-story properties, and finally the two condos and single corner retail space. The configuration of two- versus three-story homes could change depending on buyer demand.
Each house will have parking for a car and a scooter and will shoot for a 50 percent reduction in energy use from a home of the same size. Plus there will be green-roof terraces, bamboo flooring, rain barrels, triple pane windows, skylights and all sorts of fancy amenities, which you can check out here. The remaining three-story house is going for $325,000 and the two’s are priced at $249,000.
Check out this video for a tour of a model home.