It’s not every day you meet a developer who sounds more like an urban planner than a real estate man. But the folks over at eco-friendly Postgreen fit squarely in that category—they have two projects coming soon to Frankford Avenue that exemplify a modern urban planner’s ideal: mixed-use, affordable and energy-efficient.
“We’re kind of urban planning geeks,” says Postgreen's Chad Ludeman. “We have a strong interest in mixed-use corridors like Frankford and Girard, and want to make sure new development is done intelligently.”
This pair of projects near the East Kensington/Fishtown border exemplify that ethos. The larger development, dubbed FRANK, will bring 10 condos (most likely in the mid-$200K range) and one or two commercial spaces to the 2400 block of Frankford Avenue adjacent to Philadelphia Brewing Company. The other as-yet-unnamed infill project will bring four apartments and a “date night” restaurant to the 2000 block of Frankford.
As with all of Postgreen’s developments, the buildings will highlight energy-efficient, modern green building practices, but remain moderately-priced. “As a developer, we’ve found a niche in providing eco-friendly, well-designed homes that are also affordable,” explains Ludeman, who started Postgreen with his wife and another business partner in 2008.
When it comes to the condos, he says “the mid-$200k's is a sweet spot in the market.” By being smart with design choices and designing energy-efficient buildings, savings are passed on to the buyer. “We're proof positive you can build sustainably at a decent price,” he adds.
As of now, architectural firm ISA is tweaking the final designs for FRANK, and Ludeman and company are working out tenant agreements for the commercial spaces. The other project already has a restaurant concept lined-up, put together by the team behind Memphis Taproom. Both projects are expected to officially break ground in the coming months.
GREG MECKSTROTH is Development News Editor for sister pubication Flying Kite. Send feedback here.