The foundations for the 205 Race St. project in Philadelphia have been started. Madison Concrete Construction was selected to provide the foundations, slabs and filigree concrete frame construction, about 7,500 cubic yards and 175,000 square feet of structural slabs for the project.
This is the city’s first project to take advantage of a provision in Philadelphia’s zoning code that offers developers a density bonus in exchange for providing mixed-income housing. The new code provision will enable Brown Hill Development to build nearly 15 percent more square footage on the site than it would be able to without the density bonus.
The 205 Race Street project will include 14,000 square feet of retail, 28 below-grade parking spaces for building residents and a pedestrian “artway” where local artists’ work can be displayed. The building’s fifth floor will also have a green roof and a space for residents to socialize or work out. This project is significant because it provides the city with an apartment building that is affordable to people with varying levels of income with units that are comparable in terms of exteriors, energy efficiency and finishes to the market-rate units in the building.