The Philadelphia Chinatown Development Corporation disclosed at a meeting Tuesday Night to Chinatown residents that it will pull building permits and begin construction on the Eastern Tower in the next six to nine months. Easter Tower will be a 23-story mixed-use apartment complex and community center at 10th and Vine streets.
The building, designed by KlingStubbins and Lisa Armstrong of A K Architecture, will contain 143 residential units, 31 of which will be affordable for "moderate income" households earning up to 80 percent of the Area Median Income. The market-rate apartments will rent for around $1,700 for a one-bedroom and $2,500 for a two-bedroom. The developers are still rounding up funding for the project, estimated to cost $71 million.
The project will include 10,000 square feet of retail space, plus banquet and recreational space to be available to the community. the cost to operate the community center is estimated at $255,000 yearly, and John Chin, PCDC Director, promised that recreational space and community services will always be available to community members.
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