Hub 3939
3939-41 Chestnut Street
Phase: Design
Planning Strategy:
Hub 3939 is part of the ongoing development of 40th Street as a hub of activity. This project symbolizes an attempt to attract undergraduates and graduate students to live closer to campus in high quality, professionally managed, safe and secure properties. The University has entered into a long-term ground lease with a local developer for the development of the asset. The developer operates the asset and pays the University rent for the land. The building will become University property at the end of the lease.
Program:
12,200 sf retail on first floor; 7 floors residential;
60 apartment units
Total Project Cost:
$19,500,000
Area:
Approximately 57,900 gsf
Completion:
N/A
Developer:
Teres Holdings, LLC
Architect(s):
Piatt Associates
Project Manager:
Paul Sehnert, Director Real Estate Development
Esaul Sanchez, Real Estate Asset Manager
University of Pennsylvania, Facilities and Real Estate Services
Related Links:
The Hub