January 12, 2023
University City has been an increasingly hot target for developers in recent years, with plans for offices, lab spaces and residential projects continuing to pop up around the emerging life sciences district.
Georgia-based Landmark Properties is moving move forward with the construction of a 34-story, high-rise apartment building at 3615 Chestnut St., which is currently a parking lot. The building, called The Mark, has been in the works for months. It is expected to open in the fall of 2026.
Located just off the campuses of the University of Pennsylvania and Drexel University, The Mark will have 363 fully-furnished residential units ranging from studios to six-bedroom apartments. The sleek building will feature metal panels and stone. It will have a rooftop amenity area, 24-hour study lounges, a computer lab, a sauna, a pool and a fitness center.
The project also will include an adjacent building with 55,938 square feet of office space.
Landmark Properties developer is using the city's low-income housing bonus to increase the size of the high-rise. The by-right project will have 236 individual apartments and 127 units designated for group living.
Landmark Properties also is working on another building, The Standard at Philadelphia, that will open this fall at 120 S. 30th St. That building will contain 280 units. The developer, which has an integrated construction arm, has projects surrounding college campuses across the United States.