Korman Residential builds 722 rental apartments

According to PlanPhilly, Korman Residential plans to build 722 rental apartments in a two-story complex on now vacant land in Eastwick, near the airport and John Heinz National Wildlife Refuge.

The area has been under Philadelphia Redevelopment Autority control and slated for residential development for decades under the Eastwick Urban Renewal Plan.  Korman has had the option to develop it for many years.  But the renewal plan calls for single family housing, not multi-family, so Korman needs a zoning change to build as planned.

Korman is also asking the city to strike streets, pedestrian walkways and utility rights-of-way within a 35-acre parcel bounded by Lindbergh Boulevard, Dicks Place, 86th Street and Sheckctor Place.  Last week, Korman received planning commission approval for those zoning and streets bills, bringing it a step closer to building the apartments, which project attorney Peter Kelsen described as "workforce housing, for people who move to the city to work at the airport, stadiums" or other nearby places, with rents between $1,100 and $1,450 per month.  It would be built in four phases, with completion planned for 2018.

Kelsen said building the one- and -two-bedroom apartments will cost about $102 million and create 590 jobs during construction.  After the 10-year tax abatement expires, it would generate $2.62 million in annual taz revenue for the city, and when the first phase is completed in 2013, Eastwick will have about 1,000 new residents.


  1. Finding rental housing options is never an easy task at your preferred location! From comfort to affordable rental rates, you need to consider various aspects before renting an accommodation for yourself. While the market is flooded with rental residences, you may be quite confused about the right kind of option for accommodation.

    Accommodation Rental Spain

  2. This is really good that they prepare rental apartments near airport and wildlife. Visitors can easily find their home no rent with this plan, when they visit korman.

    Panama furnished apartment rental

  3. Great blog article about this topic, I have been lately in your blog once or twice now. I just wanted to say my thanks for the information provided here.
    cottage quebec

  4. It is really a great news that Korman Residential builds 722 rental apartments for people. One can get such kind of rental apartment by consulting with a experienced property agent. Here I get such valuable information about rental apartments.

  5. This is such an interesting blog. You are very knowledgeable about this subject. Please check out my site.
    Riverbank fernvale condo review

  6. Your blog is extremely brilliant especially the quality content is really appreciable.I have learned a lot of things from this.

    Sitges Real Estate & Accommodation in Sitges

  7. Great detailed information, I ll be visiting you more frequently, here is very interesting information

    Holiday Rentals Spain, Holiday Rentals France & France Holiday Rentals

  8. I havent any word to appreciate this post.....Really i am impressed from this post....the person who create this post it was a great human..thanks for shared this with us.

    Townhouses in Oakville & Buy Vacant Land in Oakville

  9. I enjoy a couple of from the Information which has been written, and particularly the comments posted I will definitely be visiting again.