UPDATE 1-9-15: MORE DETAILS IN THIS TERRIFIC NEWSWORKS ARTICLE by PlanPhilly’s ALAN JAFFE
Yesterday, the Board of Commissioners of the Philadelphia Housing Authority authorized a ground lease with Pennrose Properties, LLC. for the development of approximately 2+ acres of vacant land at Merrick and Ridge (Falls Ridge).
The land is at the far end of the Ridge Avenue commercial corridor, marking the first development on that part of Ridge since the Falls Ridge Building (home of the East River Bank).
According to Pennrose Senior Developer Jacob Fisher, the company felt “very good” about the proposal it submitted in “January or February” of this year. As such, he wasn’t surprised by the vote yesterday.
The company plans to build a 96-unit mid-rise residential structure. Fisher anticipates a long process to finalize development plans and is excited about working with the East Falls community to achieve it.
The site, which borders the Hilltop at Falls Ridge development, has been vacant since the Schuylkill Falls housing project was razed in the late 1990s.
From EFDC’s Gina Snyder, via Facebook (in response to reader questions about whether this’ll be government-subsidized PHA housing or luxury condos or what):
“The apartments proposed are not subsidized rental units (like traditional PHA or Section 8). Probably a mix of market rates and workforce housing rates (like Ridge Ave rents are right now, actually). don’t start counting chickens though – these deals take years to work out and finance….and the details will likely change. In general, new residents on Ridge Ave can be a good thing for the East Falls Riverfront Business District and for pulling rentals out of single family homes on residential streets. I will try to keep you updated!”
Hi I’m interested in applying for a housing unit at this location how can I apply can please provide me with information
Hi Kareema: I’d suggest contacting the developer, https://pennrose.com/. Keep in mind that it might be a few years before the units are built. They might be able to give you an estimated timeline.