Orens, Mosaic, and Metamorphosis Team Up at Temple University

Orens, Mosaic, and Metamorphosis Team Up at Temple University

Philadelphia real estate developers Orens Brothers Real Estate Inc., Mosaic Development Partners LLC, and Metamorphosis Community Development have teamed up and broken ground on a $20 million dollar 96 unit student housing building at Temple University called Diamond Green.  The developers provided $7 million worth of private funding and Fox Chase Bank along with 3rd Federal Bank provided the remaining construction financing.

According to CityBiz, “Part of Diamond Green’s rental income will be reinvested in the Temple area for upgrades to existing housing and creating more affordable options. The mixed-use development, totaling 126,000 square feet, is rising beside the Temple Regional Rail Station and across the street from the university’s practice football field. The plan includes 12,000 square feet of ground-floor commercial space, limited private parking, secure bicycle racks, 24/7 security and laundry facilities. Diamond Green is being touted as the largest wood-framed, modular-constructed building in the city.”

I’ll keep an eye on this project and provide updates periodically.

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Blog post compliments of CenterCityTeam’s Philadelphia Real Estate Blog

Frank L. DeFazio, Esquire
Prudential Fox & Roach Realtors – Society Hill
530 Walnut Street, Suite 260
Philadelphia, PA 19106
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