Project: APEX on York - Temple University Philadelphia, PA
Value Once Complete: $71.5 Million

Overview:
This project is 184 units, 1032 beds, 11 stories in an apartment building format with great top floor common areas and roof deck built on 2 acres urban infill just three blocks north of Temple University. Temple has a huge demand for housing. The project is valued at $71.5 million and is schedule to open in August 2009.

Details:
EPG has provided all pre development service and is now finalizing financing packages and working with contractors for construction cost.

We have a preliminary equity commitment with continued discussions and sources of primary loans in discussions now with perm loan talks also in place. The land approved is valued now at $11.5-12.5 million. Interim financing is in place and final design work completed with start anticipated in October 2007.  

This project is a partnership with Greg Pellathy and John Walsh as Apex on York LP as a part of the APEX Housing Group LLC. There have also been discussions and offers for us to sell the tract but we have decided to proceed with construction and hold it long term.

Media:
View Floorplans/Elevation (.pdf)