Riverwards Group is set to open a 42-unit mixed-use building at 2636 York St. in Fishtown next spring, adding for-sale condos to a neighborhood becoming saturated with rentals, reports the Philadelphia Business Journal.
In a growing community full of townhomes and a sprinkling of apartment buildings, the six-story Lenora is targeting a demographic that wants to own a home in the neighborhood, according to Larry McKnight, a managing partner at Riverwards Group. McKnight, who grew up in Fishtown and still lives there, said "there's nothing else in this neighborhood like this."
While Riverwards has and will continue to develop rental properties in the area, McKnight said he and fellow Riverwards Managing Partner Mo Rushdy felt Fishtown was in need of something different.
"We don't want to glut this market with rentals," he said. "There's a lot of [houses] for rent, so we really want to target people who want to live and buy and own in Fishtown, where there was really no product for people to buy. Now there's 42 units."
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Check out PBJ.com's full article for how the condos are set to be priced, as well as a glimpse of Riverwards' other neighborhood developments.
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