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Chestnut Square Expands Retail to Better Serve Area Residents

PHILADELPHIA, August 30, 2013

Rendering of Chestnut Square Retail

Drexel University and American Campus Communities, Inc. (NYSE:ACC) have added businesses to Chestnut Square’s retail space, the newest urban mixed-use housing, with the announcement of Yogorino, Plaza Art, and Franklin Mint Federal Credit Union in addition to Barnes and Noble and featured eateries coZara, Shake Shack®, Zavino and Joe Coffee.

This mixed-use block will transform Chestnut Street between 32nd and 33rd Streets into a new gateway for Drexel University and University City, featuring approximately 361,200 square-feet of retail and housing space. The building design includes 19-stories of residential apartments 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 & Noble.

Included is the list of featured businesses at Chestnut Square, to date:

  • Yogorino: The Italian store touts the dietary good of probiotics and offers frozen-yogurt and gelato from Italy. Yogorino has seven locations in the U.S. For more information visit yogorino.com.
  • Plaza Artist Materials & Picture Framing: Originally founded in 1960, this art supply store is expanding services into the academic-based, University City market. Plaza Art features 13 locations in the U.S. that provide a comprehensive selection of supplies including brushes, canvas, drawing, framing, paint, studio furniture and workshops. For more information visit plazaart.com.
  • Franklin Mint Federal Credit Union (FMFCU):This full-service credit union branch will offer area students, residents, employees, and businesses an array of financial products and services. FMFCU is the "Preferred Partner Credit Union" of Drexel and "Official Financial Wellness Provider" for the University’s A Healthier U. Now with 36 branches, FMFCU was recently named a “Top Work Place” in the greater Philadelphia region by The Philadelphia Inquirer, (Philadelphia) Daily News and philly.com. For more information visit fmfcu.org.
  • Barnes & Noble, for more information visit bn.com.

 About American Campus Communities

American Campus Communities, Inc. is the largest developer, owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust with expertise in the design, finance, development, construction management and operational management of student housing properties. American Campus Communities owns 161 student housing properties containing approximately 98,800 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consists of 191 properties with approximately 123,300 beds. Visit americancampus.com or studenthousing.com.

For more information from American Campus Communities about Chestnut Square or to schedule interviews, media should contact Sarah Tober at stober@americancampus.com or 512-732-1078.

News Media Contact

Niki Gianakaris

Director of Media Relations, University Communications

ngianakaris@drexel.edu
Phone: 215.895.6741
Mobile: 215.778.7752