Drexel to Break Ground on $97.6 Million Development: Chestnut Square

PHILADELPHIA, February 20, 2012

Drexel University and American Campus Communities (ACC) will break ground on a new $97.6 million development that will transform Chestnut Street between 32nd and 33rd Streets into a new gateway for Drexel and University City. Designed by internationally acclaimed Robert A.M. Stern Architects, Chestnut Square will feature 361,200 square-feet of mixed-use student housing and retail space. It’s scheduled for completion September 2013.

The event will be held at the construction site on Tuesday, February 21, at 6 p.m. Breaking ground with shovels at the construction site will be:

• John A. Fry , president, Drexel University
• Richard A. Greenawalt, chairman, Drexel Board of Trustees
• Philadelphia Mayor Michael A. Nutter
• James E. Wilhelm, executive vice president, Public-Private Transactions, ACC
• James R. Tucker , senior vice president, Drexel Student Life & Administrative Services
• Adam Trosko, president, Drexel Undergraduate Student Government Association

Renderings of the new development are available by emailing ngianakaris@drexel.edu

The development will include two eight-story buildings that front Chestnut Street while maintaining an open entry corridor to the adjacent Creese Student Center. The building design will also include a 19-story residential tower at the corner of Chestnut and 32nd streets. The two-story street-level space will include retail outlets, neighborhood restaurants, and a new corner entry into the Barnes and Noble campus bookstore. Upper floors feature student apartments with both shared and private accommodation options. Voith & Mactavish Architects LLP is the collaborating architectural firm./html>