With 30,000 square feet of amenities now complete, the $285 million AVE Navy Yard development from Ensemble/Mosaic and Korman Communities is now welcoming its first residents, writes Paul Schwedelson for the Philadelphia Business Journal.
Jeff Brown, director of development for Korman’s AVE brand, said that the team knew they had “to do something special” with the Navy Yard’s first residential buildings.
The project broke ground in October 2023. The two buildings are nearly complete and have 614 apartments along with a combined 25,000 square feet of retail space, expected to be leased later this year.
As part of a $6 billion, 109-acre redevelopment of the Navy Yard by Ensemble Investments and Mosaic Development Partners, Korman Communities was brought in as the partner for the residential piece.
“We said that when we set out to build the first neighborhood in the Navy Yard that we have to create a destination,” said Brown.
Constitution, the first building, has already welcomed about a dozen residents, while Normandy, the second building, is set to open on March 1.
Brown described Normandy as having amenities “on steroids,” from a café and pool to a fitness center and golf simulator, among many other offerings.
Read more about the nearly-completed AVE Navy Yard development in the Philadelphia Business Journal.
_____
