The Parker

624 S. 13th Street – Mixed Income Residential

Purchase Price Ground Lease
Construction Costs $7.1M
Total Deal Size $9.8M
Asset Class Multifamily / Mixed Income
Equity Source Friends and Family
Number of Apartments 45 / 14 Affordable
Commercial SF n/a
Status Pre-Construction


City of Philadelphia / Awarded via RFP

Business Plan:
New Construction of 45 apartments on currently vacant site. The project will offer onsite affordable housing and is the first ever residential ground lease with the City of Philadelphia.

Roles and Responsibilities:
Developer – Benchmark Real Estate Partners
General Contractor – Benchmark Construction Group