ABINGTON RACE & PLEASANT

Completed Project

This development was a partnership between The Model Group, 3CDC, and Cornerstone Renter Equity, involving the rehabilitation of five historic buildings. Four of the buildings sit in the 1500 block of Race Street south of Liberty Street and the remaining building sits north of Liberty Street at the corner of Green and Race streets. 3CDC served as the developer of the street-level commercial space, and now owns and operates these spaces. The residential units were developed under a partnership between The Model Group and Cornerstone Renter Equity. The partnership also owns and manages the units. The project yeilded 50 new affordable housing units, for families at or below 50-60% of the area median income (AMI), and five new commercial spaces spanning the properties. Additionally, Abington Race & Pleasant will be Enterprise Green Communities and LEED for HOMES certified. Construction was completed in February of 2018.

Construction Photos

Essential Facts

  • Developer
    3CDC, The Model Group, and Cornerstone Renter Equity
  • Project Cost
    $17 Million
  • Uses
    100% affordable housing units with first floor commercial space
  • Number of Units
    50
  • Average Unit Size
    Mix of studios to 3-bedroom
  • Average Unit Price
    For families at 50-60% area medium income level [AMI]
  • Completion Date
    February 2018
  • Commercial SF
    5,925

Location

1523-1535 RACE STREET, 1530-1532 PLEASANT STREET, AND 33 GREEN STREET

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