School’s out for the summer, but Radnor Property Group is still cramming for a test of its strategic investment in apartment developments next to area universities.

Just as it finishes up building View32’s 164 apartments on 16 floors for $56 million at the edge of Drexel University, Radnor Property is digging into land near the Community College of Philadelphia that will become the first half of a $129 million development, according to a Philadelphia Business Journal report by Natalie Kostelni.

Branded the Hamilton, the $65 million, 279-apartment building is rising 10 stories in the air, and it’s expected to be followed by a second building with 210 apartments and ground-floor retail on 16 stories.

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“Once we have completed Hamilton one, we roll right into Hamilton phase two,” Radnor Property’s David Yeager said.

The developer also built 276 apartments on 26 stories near Penn two years ago for $95 million.

“It’s early, but we’re doing quite fine,” Yeager said of the strategy. “We’re ecstatic about the job growth and niche with eds and meds.”

Read more about the newest university development in the Philadelphia Business Journal here, and check out previous DELCO Today coverage of Radnor Property here.

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