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Pennrose’s Wynne Senior Residences Named One of Philadelphia Business Journal’s Best Real Estate Deals of 2017
February 27, 2018
Pennrose and Wynnefield Overbrook Revitalization Corporation (WORC) are pleased to announce that Wynne Senior Residences (Wynne) has been named one of the Philadelphia Business Journal’s Best Real Estate Deals of 2017. Built on the site of the iconic Wynne Theater in Philadelphia, Wynne is a four-story, 51-unit, affordable senior housing project designed to replicate much of the architectural heritage of the famous venue.
A combined development effort of WORC, the Philadelphia Redevelopment Authority and Pennrose, Wynne brings affordable housing opportunities for local seniors, as well as retail to the Wynnefield-Overbrook section of West Philadelphia. The building’s façade plays homage to the architectural heritage of the former theater, including a replica of the original rooftop marquee. Wynne amenities include a community gathering space, fitness room, and computer and library rooms with 1,2000SF of retail space and potential for an outdoor café.
Wynne was developed with an emphasis on sustainability and green design. Funded in part through the PHFA Tax Credit Program, Wynne took full advantage of incentive points offered for buildings designed and built to meet PHIUS+ 2015 Passive Building Standards. Additionally, as part of the PHFA tax credit award, Wynne was required to meet additional mandatory scoring points under the Enterprise Green Communities program. Wynne was among one of the first buildings in Pennsylvania to be built to Passive House requirements.
“We are thrilled that Wynne Senior Residences has been recognized as one of the Best Real Estate Deals of 2017,” said Harry Moody, senior developer at Pennrose. “This project not only provides high quality senior housing and improved retail opportunities, but it also reconnects the community with an important piece of local history.”
“WORC was proud to partner with Pennrose to provide this affordable senior housing project to a well deserving community,” said Jerry Murphy, executive director of WORC. “We are excited for this project to be recognized by the Philadelphia Business Journal.”
K&A Architectural Services is the architect for WSR and Builders Design is the Interior Designer.
The Philadelphia Business Journal honors the Best Real Estate Deals annually. Following an extensive nomination process, the deals with the highest impact on the region are selected.
Pennrose, along with the other winners, will be honored on March 22 at SugarHouse Casino.