Featured:

West Philadelphia Institute

Philadelphia, PA (2019)

This project involved the historic renovation of a 3-story, sq. ft. commercial office building.

COMMUNITY IMPACT
  • 25 FTE jobs
  • 8 construction jobs
FINANCING SOURCES
  • NMTC amount: $1,500,000
  • Total Project Costs: $8,565,051
  • CDE:
PROJECT LOCATION

22-26 South 40th Street

Philadelphia, PA 19104

Project Description

This project involved the historic renovation of a 3-story, sq. ft. commercial office building. In February 2017, U3 Ventures acquired the dilapidated yet historically significant office building at 40th and Ludlow Streets in West Philadelphia, originally designed by Frank Furness. In 1876,the building was originally named “The West Philadelphia Institute,” because its purpose was to house a library and provide vocational training resource services. U3’s intent is to restore the building to its 1927 condition and create a vibrant community of enterprises using the co-working space concept. The Institute’s strategic location directly adjacent to the Science Center (“uCity Square”), Drexel and University of Pennsylvania, offer its tenants far-reaching capacity to serve their missions while being based in a genuinely neighborhood setting. The ground floor is a mix of retail and office space. Tenants include Excel Physical Therapy and U3 Advisors, a real estate and economic development consulting practice.