East Falls’ historic Alden Park gets a modern makeover while Kensington continues its neighborhood transformation.
Alden Park is in the midst of a roughly $70 million renovation. Built in the 1920s, this East Falls address was once the estate of department store owner Justus C. Strawbridge and, later, home to the Kelly family. “Alden Park is a one-of-a-kind asset—encompassing the splendor of the early 1900s, the majesty of Tudor architecture and now the amenities and finishes of brand-new luxury residences,” says Jonathan Leifer, chairman and founder of L3C Capital Partners, which acquired the property in July 2015. Renovations began in 2016 by Briarwood Construction and, to date, around 75 percent of their 772 units have been completely renovated. Studios and one- to four-bedroom rental units are available within three deluxe buildings over the property’s 38 acres. Today, Alden Park now has an indoor saltwater pool with a retractable roof, gourmet outdoor kitchens, an outdoor pool and a dog park. 5500 Wissahickon Ave., alden-park.com
Fashion District Philadelphia
Work continues at the former location of The Gallery Mall, now known as Fashion District Philadelphia. Retail, entertainment and high-end dining within 838,000 square feet of space are set to change the face of East Market Street. Spanning over three city blocks, developers Macerich and PREIT, the name behind area shopping malls in Cherry Hill and Plymouth Meeting, plan to turn the massive space into a metropolitan destination shopping experience for both locals and Philly’s significant tourist population. Confirmed retailers are still under wraps but there will be a mix of flagship brands and designer outlets to shop. In the meantime, there’s at least one way to get a preview of what’s in store for Fashion District Philadelphia at Century 21. The New York-based discount designer department store has been the mall’s first tenant since 2014. 901 Market St., fashionoutletsphiladelphia.com
North 5th Square
Cecil B. Moore Avenue’s new 57-unit development now has a name. Enter South Kensington’s North 5th Square. “With the help of Councilwoman Maria Quiñones-Sánchez’s office, this project has been designed to meet the needs of longtime residents as well as those who will be moving to the neighborhood,” says Larry McKnight, managing member and co-founder at The RiverWards Group. Pre-construction sales just began in September, with three- and four-story single-family units and two- and three-family triplexes featuring hardwood floors, granite countertops and breathtaking roof decks available. Another perk? This neighborhood is environmentally friendly with high-efficiency dual HVAC, high-efficiency stainless steel appliances, energy efficient windows and more. 1620-50 N. Fifth St., riverwardsgroup.com