Nashville-based Southern Land is part of a massive residential project set to come out of the ground in Philadelphia.
In a joint venture with Wexford Equity, Southern Land will develop a 27-story, 400,000-square-foot building with 364 units ranging from studios and efficiencies to two-bedrooms. The project also includes 17,000 square feet of ground-floor retail. The project — tentatively named 3601 Market — is on the campus of Philadelphia's Science Center, a research park owned by a Wexford subsidiary.
Groundbreaking is set for fall with a delivery in spring 2015.
“This project represents an unparalleled opportunity for high-end living in the hub of the Science Center’s vibrant setting,” said Tim Downey, Southern Land Company CEO. “Southern Land and Wexford’s commitment to excellence in design, amenities and service will build on the long-standing dedication by the Science Center to providing a world-class innovation environment.”
Philadelphia's University City Science was the world's first urban research park, opening in 1963. It is still the largest complex of its kind and an incubator for new tech companies.