High-end and affordable apartments are coming to Philadelphia’s Navy Yard

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High-end and affordable apartments are coming to Philadelphia’s Navy Yard
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After decades when no residential development was allowed in the Navy Yard, the first big apartment project is breaking ground Oct. 24.

An aerial view of the two new residential buildings . To the right, with the orange roof is an existing life sciences building and to the left is an existing historic building that will be transformed into a hotel.

“We don’t have the opportunities to create new neighborhoods in an urban environment, well, really ever,” said Brian Cohen, managing director of Ensemble Investments, which is involved in the project. “We think that this sets the stage for what we want the Navy Yard to be, which is a neighborhood that’s representative of Philadelphia that’s inclusive of people of all incomes and backgrounds.”

“This is really exciting and will be a key piece of creating this new community in Philadelphia,” said Kate McNamara, senior vice president for the Navy Yard with PIDC, the city’s public-private economic development organization. “We are really excited about the role residential will play in our 15- to 20-year master plan. It’s a great opportunity for a new residential community in Philadelphia.”

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