142-Unit Apartment Complex Coming To East Falls

PHILADELPHIA — A new, 142-unit rental development is coming to the East Falls neighborhood in Philadelphia.

The new multifamily development is at 4300 Ridge Ave.

The $55 million project will feature 135,000 square feet of amenitized luxury rental apartments including a rooftop pool, fitness center, short-term furnished rental units as well as 10,450 square feet of ground-level retail.

Apartments will range in size from one to two bedrooms, with select bi-level duplex residences.

Luxury amenities will include an outdoor pool and lounge; a residents’ lounge and game room; private workspaces; and a suite of wellness amenities, such as a state-of-the-art fitness center, yoga room, bike room and relaxation area.

The project will also incorporate a public art installation in accordance with the City’s Percent for Art program.

With construction now underway, the project is slated for completion by the end of 2023.

The groundbreaking comes on the heels of developers Method Co. and Cimbra Partners securing $30 million in funding from Pacific Western Bank. Plans for the project’s retail spaces, including a full-service restaurant, are forthcoming.

Situated alongside Fairmount Park and the Schuylkill River, the project will be the first luxury riverfront rental on Kelly Drive.

It was designed by Morris Adjmi Architects, a celebrated national architecture firm, to maximize views of the natural scenery encompassing the site, and will offer a serene lifestyle in the heart of East Falls, adjacent to the Falls Bridge.

The location of Kelly Drive will be a desirable factor for residents. It’s in walking distance to several public transit options as well as the Schuylkill River Trail, a popular and safe route for bicyclists to take either into the city center or out to Valley Forge Historical Park, and it’s highly accessible to dining, shopping and the Wissahickon trails in the East Falls area.

The neighborhood, known for its woodland and waterfront, is a charming hillside enclave, but also touts vibrant, urban features, such as trendy new restaurants and bars, locally owned coffee shops and manicured parks.