Jul 18, 2016

Two more apartment projects planned for Downtown

Two local developers are looking to combine the old and the new to create a major residential destination in the heart of the Downtown cultural district.

Trek Development Group and Q Development are teaming up on “Eighth and Penn,” a 135-unit apartment complex to be built at Penn Avenue and Eighth Street.

The $35 million project is one of two new residential developments in the works Downtown. During a city planning commission briefing Tuesday, BET Investments, a Horsham, Pa., developer, also unveiled a proposal to convert a vacant building on Third Avenue into 88 apartments.

In the cultural district, Trek and Q plan to use two vacant historic eight-story buildings they purchased last year for about $2.4 million, as well as a new 11-story addition, to house the apartments, all of which will be market rate.

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