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. When complete in Q2 of 2021, the Next LVL, will be 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 are able to go from demolition/excavation, and all the way through completion of a 250,000 square foot, 7-story project, in just 15 months.
This property opened for occupancy in June of 2021.
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Located near Lee Park in University City