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The first two residential buildings have broken ground in Navy yard, PA
Ensemble Investments and Mosaic Development Partners have officially marked the beginning of a transformative journey at the Navy Yard. These developers are pioneering the shift from an employment-centric center to a thriving neighborhood. The first two residential buildings have broken ground in Navy yard, promising to deliver 614 apartments and 25,000 square feet of ground-floor commercial space, with an estimated budget of $285 million.
One of the residential buildings, located at 1200 Normandy Place, will host 265 apartments across seven stories, offering 10,000 square feet of commercial space. Notably, this includes 100 fully furnished units designed for extended stays, accommodating corporate relocations or residents with flexible lease terms. The building will feature a wide range of one-, two-, and three-bedroom units, along with an impressive 30,000 square feet of indoor amenity space, which includes a business center, fitness facilities, a golf simulator, and a game room. Additionally, it will have 20,000 square feet of outdoor amenity space, including a second-level pool terrace.
On the other hand, at 1225 Constitution Ave., a six-story residential building is in the works, accommodating 349 apartments and 15,000 square feet of commercial space. This structure will allocate an additional 15,000 square feet for amenity space, which includes a game room, bicycle storage area, and an outdoor courtyard and kitchen. Significantly, a substantial portion of the amenity space will be shared between the two buildings. Furthermore, the Constitution Avenue building stands out for its inclusion of 92 affordable units, reserved for individuals with incomes ranging from 60% to 120% of the area’s median income.
Expected construction completion date for this residential project at Navy Yard
Partnering with Korman Communities, Ensemble/Mosaic is steering the ship in this venture, aiming to complete construction by the third quarter of 2025. This first residential apartments at Navy Yard project marks a pivotal moment, as Ensemble Managing Director Brian Cohen notes, “It really turns the Navy Yard into a true mixed-use, live-work-play neighborhood, which it has not been to date.”
Brian Cohen shared the project’s inclusive vision: “When we thought about the vision for the project, we really focused on making sure we were leaving opportunities for everybody. All demographics, all income levels, but also flexible options… How do we, within these 614 units, create a community and a wide range of opportunities for everybody?” |
