4233 Chestnut St
Philadelphia, PA 19104
Alterra acquired this 40k site in December of 2019, in partnership with the Carlyle Group, and commenced construction in January of 2020. At completion in Q2 of 2021, the Next LVL became a 250,000 sq ft, 7-story project, featuring 281 Class-A apartments, 50+ internal parking spaces, and 8k sq ft of retail, on the corner of 43rd and Chestnut. This is the second project, with the LVL at 4125 Chestnut being the first, where Alterra has developed an infill, mid-rise, modular housing project in University City. The speed and efficiency of modular construction are on full display here where Alterra and its project partners succeeded in completing demolition, excavation, and final delivery of a 250,000 square foot, 7-story project, in just 15 months.
This property was sold in February 2022.