Take heed. Coming soon, a gateway—a new gateway to University City, thanks to Drexel University, that is.
Groundbreaking for Chestnut Square, a project projected to cost around $97.6M that aims to transform Chestnut St. between 32nd and 33rd Sts. into a new gateway for Drexel and University City, took place in February. Plans, which include the construction of more than 300K square-feet of mixed-use student housing and retail space, call for a September 2013 completion.
The project will include a 19-story residential tower at the corner of 32nd and Chestnut Streets, with a two-story street-level space that will include retail, restaurants, and a new corner entry into the Barnes and Noble at 33rd and Chestnut. The project will create around 860 new beds for Drexel (multiply housing costs of roughly $8K/year, times 860, and you can begin to see…