In February of 2020, Emerald Creek Capital provided a $15,000,000 bridge loan in the Olde Kensington neighborhood of Philadelphia, PA. The loan is secured by a newly constructed 58,825 square foot mixed-use apartment building. The finished product will consist of 85 studio and 1-bedroom units, in addition to a ground floor retail space. Residents will enjoy spacious living areas and high-quality finishes such as quartz countertops and stainless-steel appliances. The subject property is one of two buildings within a state-of-the-art complex, offering a fitness center, on-site parking, and outdoor community spaces. Quickly becoming one of the most desirable neighborhoods in central Philadelphia, Olde Kensington appeals to young professionals with its trendy restaurants, shops, and vibrant art scene. The subject property benefits from access to the subway at Girard Avenue and a variety of bus lines.
For more information, please contact:
Jeff Seidler, Managing Director