Jonathan Rose Companies
 
Paseo Verde
Philadelphia, Pennsylvania

Jonathan Rose Companies and Asociacíon Puertorriqueños en Marcha (APM) was selected by the City of Philadelphia to develop a 1.9 acre parcel of land adjacent to the Temple University Train Station, the fourth busiest stop in the regional transit system. The proposed development will be a sustainable, mixed-use rental housing project for low and moderate income families that will benefit from access to the transit station, Temple University, and on-site community services.The goal of the project is to provide a healthy living environment for residents through sustainable practices as well as cost savings through effective reduction in water and energy use. The building will be constructed with an environmentally responsible design that includes: an energy efficient building envelope and MEP systems; a green roof; photovoltaic solar panels; and the use of local, recyclable, and renewable materials. Paseo Verde has achieved LEED Platinum certification under LEED for Neighborhood Development (LEED ND);  it is the first LEED ND project in the country to achieve a Platinum rating.

The 206,000 square foot building will consist of 120 rental units that include a mix of one-, two-, and three-bedroom apartments with a range of tenant amenities. The apartments will open on to a series of landscaped terraces and green roofs for residents to enjoy. The building also includes approximately 30,000 square feet of ground floor retail and community service space, which will include a primary care facility operated by Public Health Management Corporation, a pharmacy, and supportive services provided by Asociación Puertorriqueños en Marcha. 67 parking spaces will accommodate the residential portion of the development to encourage the use of public transportation.

The project will utilize a combination of public financing sources from Federal, State, and City sources, including PHFA Low Income Housing Tax Credits, Federal Home Loan Bank AHP program, Office of Housing and Community Development (OHCD) Housing Trust Fund Program, and New Market Tax Credits.
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Visit The Property Website To Learn More
www.paseoverdeapts.com 

 

Firm Role
Developer

Project Profile
New construction of 120 residential units, and approx. 30,000 sq. ft. of community program and retail space adjacent to the Temple University Train Station.

Project Team
Co-Developer: Jonathan Rose Companies and Asociacíon Puertorriqueños en Marcha (APM)
Architect: Wallace Roberts Todd (WRT)
Mechanical/Electrical/Plumbing Engineer: CSA Group
Structural Engineers: David Chou & Associates
Civil Engineer: Urban Engineers 
Environmental Engineer: Pennoni Associates
Contractor: Domus, Inc.
Property Management: The Altman Group

Total Project Size / Budget
206,000 square feet / $47.3 million

Completion
Construction Start: February 2012
Construction Completion: Spring 2013

Funding Sources
JPMorgan Chase
Philadelphia Redevelopment Authority/OHCD
Hudson Housing Capital
Citibank
TRF (EnergyWorks)
Federal Home Loan Bank SF
Bank of America/USGBC
PIDC (RACP)
City of Philadelphia – Commerce Department
State of Pennsylvania – DCED
Home Depot/PHS
LISC Grants
Comcast
Senator Casey
Enterprise Green Communities (Charrette Grant)
PHFA

CDEs
LISC
AFL-CIO
WNC
CSH

Selected Awards

Delaware Valley Regional Planning Commission, Regional Excellence Award, Regional Land Use Project of the Year, 2013

AIA Pennsylvania Award for Architectural Excellence, Citation of Merit, 2012