Daily News | Hundreds of new apartments are coming to West Philly, a century after its last building boom
, the business improvement district found that median home sale prices have increased by 13.7% in the last year, to $507,320, while median rent increased 9.2% in the last year to $1,764.
The diversity of unit sizes — from standalone homes to one-bedroom apartments — ensured a degree of income mixing, as did the fact that many of the homes came with live-in servant quarters. “Garden Court offers apartments with living room, dining room, kitchens, one and two master bedrooms with baths, maid’s room and bath,” a 1928 ad promises.
The overwhelming majority of the units in Binnfeld’s two buildings on Spruce Street would be one-bedroom units. The other two projects are also dominated by a mix of one- and two-bedroom units.Young professionals and graduate students have long buoyed the rental market in this corner of West Philadelphia, just beyond the undergraduate party belt.
that Councilmember Jamie Gauthier helped create last year. This would require that all projects with 10 or more units provide 20of the units at below-market prices. Developers like Binnfeld predict that the legislation will push development into other parts of West Philadelphia, like the neighborhoods below Baltimore Avenue that are not covered by the overlay, or stymie it all together.
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