Tuesday, October 9, 2018

Resmark Leading JV to Develop Manayunk Multifamily Project

by Steve Lubetkin, Globest.com
The Resmark Companies is leading a joint venture development investment with The Concordia Group and D3 Real Estate Development to create a waterfront townhome community in the Manayunk neighborhood of Philadelphia.
Construction is currently underway at The Locks, a collection of 63 waterfront residences, each with views of the Manayunk Canal, the Schuylkill River or both.

“Resmark is excited to continue our partnership with Concordia and D3 on another dynamic project in the city,” says Alexandra Johns, senior vice president, investments, Resmark Land and Housing. “Like Southwark on Reed, our first investment together, The Locks interacts with the local architecture and land plan to create an exceptional sense of place, and an exciting homeownership opportunity.”
Located between the canal and river, The Locks’ 63 waterfront residences will have open floor plans, incomparable views and generous rooftop terraces. The homes will range in size from 2,100 square feet to 3,500 square feet and are sited in a landscaped setting with a new riverfront trail along the Schuylkill River.  The community’s industrial architectural design by the Philadelphia firm of Varenhorst Architects pays tribute to Manayunk’s rich heritage.
“We’re pleased to partner with D3 and Resmark to create a project that adds to the vibrant atmosphere of Main Street and Downtown Manayunk,” says Will Collins, managing principal of The Concordia Group.

“Our team is executing a compelling vision that combines exciting contemporary home designs with well-planned common spaces that enhance the authenticity and charm of one of Philadelphia’s most unique neighborhoods,” says Greg Hill, managing partner of D3.

The Locks residents will enjoy the small town feel of Manayunk while living only six miles from Center City.  Named a National Historic District in 1983, Manayunk’s classic Main Street offers gourmet restaurants, boutique upscale shops, and seasonal street fairs, creating a walkable environment within steps of The Locks.  The Locks provides an authentic urban experience that encourages walking and biking and is near the new Performing Arts and Recreation Center. It is a short walk to the SEPTA station with direct service to downtown Philadelphia or is easily accessible to I-76.

This is the second Philadelphia community developed by Resmark, D3 and Concordia. The trio came together in 2015 to develop Southwark on Reed, a community of 91 single family attached townhomes at 400 Reed Street, formerly the site of the Mt. Sinai Hospital, which was the fastest-selling luxury townhouse project in Philadelphia.

The Locks continues Resmark’s investment in infill residential developments in walkable neighborhoods that benefit from thriving employment centers, abundant public transportation and desirable retail, service and recreational offerings.

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