ABINGTON RACE & PLEASANT

Current Project

This development is a partnership between The Model Group, 3CDC, and Cornerstone Renter Equity. It is the rehabilitation of five historic buildings. Five 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 is serving as the developer of the street-level commercial space, and will own and operate these spaces upon completion of the project. The residential units are being developed under a partnership between The Model Group and Cornerstone Renter Equity. The partnership will also own and manage the units. Upon completion of the project, there will be 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.

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
    December 2017
  • Commercial SF
    5,925

Location

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

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