MMPartners acquired West Village in the Summer of 2017 in the Powelton Village neighborhood of University City, Philadelphia. West Village Properties is adjacent to Drexel University’s campus and across the street from Drexel Park.The properties are a collection of multi-family homes on Powelton Avenue from 32nd to 33rd St. and Pearl St. and an apartment building with an adjacent parking lot.There are a total of 83 units consisting of 144 beds. There are over 50,000 students and 72,000 jobs in University City, with 60% of the student population choosing “off-campus” housing such as West Village. Because of its proximity to campus and location, West Village has been historically 100% occupied.
MM Partners intends to renovate existing apartments and eventually develop the parking lot adjacent to 311 N 33rd Street. The development will add 8 beds at 3,800 square feet, while keeping the majority of the parking spaces.
Anticipated Completion: 2019
Units: 83/144 beds
Parking: 13 spaces, 6 garages