© 2026 WWB Holdings, LLC. All rights reserved
Molly McVety
Source link
Tag: northern liberties
-
Second phase of Piazza Alta development to add 431 apartments in Northern Liberties
Real estate developer Post Brothers has secured a $170 million loan to start construction on the second phase of its Piazza Alta project in Northern Liberties, where two new buildings will add another 431 apartments to the first phase of the complex completed two years ago.
Financing for the next phase of the development will come from San Antonio-based Affinius Capital, the Commercial Observer reported Monday.
MORE: Yemeni coffee chain Haraz to open cafe in Fishtown, its second location in Philly
Post Brothers, run by brothers Matthew and Michael Pestronk, has led a transformation of the former Piazza at Schmidt’s and its surrounding parcels over the last several years. In 2018, they had purchased the original Piazza apartments and retail complex, built by developer Bart Blatstein in the 2000s and then acquired a controlling stake in plans to expand at the corner of Second Street and Germantown Avenue in 2019
The first phase of Piazza Alta included five-story, 12-story and 16-story buildings with a combined 695 units. The second phase of the market-rate development will add an eight-story building and a 16-story building atop a pair of podiums that were constructed with ground floor retail during the first phase.
The two new buildings will have a mix of studios and one- to three-bedroom apartments along with a rooftop pool, fitness center and co-working space. Post Brothers aims to complete the expansion by the end of 2027, bringing the development to a total of 1,126 apartments.
The Pestronk brothers told the Philadelphia Business Journal that Piazza Alta’s first phase is now 97% leased.
Northern Liberties saw a construction boom in the years before and during the COVID-19 pandemic, including several other projects nearby the Piazza. Southwood Properties opened up its 55-unit Eight Two Eight building at Second and Poplar streets last year and Stamm Development Group opened the 50-unit Beverly building along Germantown Avenue. Among other multifamily projects in the neighborhood, Jefferson Apartment Group and Haverford Properties also debuted their 470-unit Rivermark development at Spring Garden Street and Christopher Columbus Boulevard last year.
Affinius Capital’s loan for the second phase of Piazza Alta comes amid a cooling off in new construction in Philadelphia, part of a national trend triggered by high interest rates and increased building costs. In 2024, the number of permits issued for new residential construction in Philadelphia fell to the lowest level since 2013, according to a report from the Pew Charitable Trusts.
“This project aligns with our strategy of financing exceptional multifamily assets with top-tier sponsorship,” Affinius Capital senior vice president Perry Katz told the Commercial Observer.
Michael Tanenbaum
Source link -
Milk Jawn to open new ice cream shop in Northern Liberties this June
Northern Liberties soon will gain a new ice cream shop but lose a bar that has operated on Second Street for nearly a decade.
Milk Jawn revealed Monday that it plans to open its second store this June in the former space of Just Cravings, an ice cream shop that recently closed at 946 N. Second St. Heritage, the bar and restaurant with an open storefront on 914 N. Second St., will permanently close Sunday, March 10.
Milk Jawn opened its first store in East Passyunk in 2021. Founder Amy Wilson started the small-batch business out of her home kitchen more than a decade ago and grew the company with co-owners Ryan Miller and Cathryn Sanderson.
“Philly really embraced us when all we did was take online orders and delivered ice cream, and it embraced us again when we went into farmers’ markets. But now, the response we’ve gotten since opening our first brick and mortar blew away even our wildest expectations,” Wilson said Monday.
Milk Jawn is known for flavors like tahini fudge swirl, pistachio, double fold vanilla and Thriller Night, a dark chocolate and raspberry blend. The company also offers a selection of vegan flavors and has other specialty treats, including ice cream pops and a Choco Taco-style dessert.
Heritage to close after 9 years
In an Instagram post made over the weekend, Heritage thanked its customers for nine years of “countless cherished moments.”
“From lively evenings filled with laughter and music to heartwarming moments shared over drinks, every memory with you has been a treasure,” the post read. “Your support has been the heartbeat of our establishment, and we’re truly thankful.”
Heritage is known for its brunch and whiskey-centric bar, with a live music schedule that often features jazz acts at night. It also hosted weddings and other events. The restaurant is part of the Vintage Syndicate hospitality group, whose other bars include Time, Vintage, Bar, Starbolt and Garage, which is expanding with a third location in Center City at the former Fox & Hound.
The owners of Heritage could not be reached for comment Monday afternoon.
“Thank you, NoLibs and Philly, for nine incredible years of friendship and shared moments,” the bar said on Instagram. “You’ll always hold a special place in our memories.”
Michael Tanenbaum
Source link