It's been four long years since Postgreen Homes, a sustainable development company in Philadelphia, made public its intention to construct a contemporary 14-unit project in the city's Fishtown neighborhood with the unlikely moniker of “Awesometown.”
In late March, during a public launch party at Lloyd Whiskey Bar, Postgreen announced that the ultra energy-efficient project is finally going to happen. ISA is the architectural firm responsible for the design.
According to Postgreen's Chad Ludeman, the process of financing Awesometown has been a bit of a departure for the company. As the result of a partnership with the New Kensington Community Development Corporation (NKCDC), Postgreen is pricing four of the 14 customizable townhomes at a discounted rate, making them affordable for moderate-income families.
Unlike with most collaborations between for-profit and nonprofit developers, the funds for Awesometown — which will sit between Thompson and Moyer Streets — are coming entirely from private sources.
“We're just treating this like a normal project,” says Ludeman, “and using the proceeds from the sales of the market-rate units to subsidize the moderate-income units.” (Moderate-income residents of Awesometown will be required to have incomes below 100 percent of the city's median income rate.)
Awesometown's market-rate townhomes are selling for $399,000. The company hopes to acheive LEED platinum status for the project — each of the units will come stocked with eco-friendly appliances, an Energy Star HVAC system and triple pane windows.
Postgreen also worked with the Philadelphia Water Department (PWD) to develop a stormwater management plan for the site, 95 percent of which will be permeable, thanks to eco-friendly paving and green roof decks constructed atop each home.
Visit the Postgreen Homes blog for more details on the project and to view an Awesometown promo video.
DAN ELDRIDGE is development news editor of Flying Kite Media.