• Latest
  • Trending
Common Expands Property Operations in Philadelphia, Adds Nearly 400 units to Management Portfolio

Common Expands Property Operations in Philadelphia, Adds Nearly 400 units to Management Portfolio

March 2, 2021
Evonik
LGI Homes

LGI Homes Increases Footprint in the Raleigh-Durham Market

May 23, 2023
AMA Group

AMA Group joined Hendy Associates for the design of the first U.S. based Mercedes-Benz classic center

May 15, 2023
EagleView

EagleView Technologies appoints Piers Dormeyer to Chief Executive Officer

May 15, 2023
KBS

KBS Builders wins $2.2 million contract to manufacture classrooms for the South Burlington School District in Burlington, Vermont

May 12, 2023
Building Clean

Building Clean, Ecomedes partnership will help procurement professionals find healthier US-made building products

May 11, 2023
SC Johnson

Partnership empowers collection communities to stop coastal plastic and combat poverty

May 2, 2023
Heidelberg Materials

Heidelberg Materials announces first clinker at new cement plant in Mitchell, Indiana

April 26, 2023
Fisher House Foundation

New Fisher House dedicated at the Columbia Veterans Affairs Health Care System

April 24, 2023
High Wire

High Wire to present Overwatch Cybersecurity Platform at Kaseya Connect Global Conference in Las Vegas

April 24, 2023
Sysco

Sysco unveils first electric vehicle hub, advancing its industry leading climate change commitment

April 24, 2023
Plymouth

Plymouth Industrial REIT Development Projects earn Green Globes® certification for Core & Shell Construction

April 13, 2023
LGI

LGI Homes opens new section at popular community in Converse

April 13, 2023
Construct America Magazine
Friday, June 6, 2025
Media Pack
Advertise
  • Development & Infrastructure
    • Commercial & Industrial
    • Residential
    • Government & Public Sector
    • Infrastructure & Energy
  • Planning & Design
    • Architecture
    • Masterplanning
    • Project Management
    • Restoration & Regeneration
  • Consulting Services
    • Environmental
    • Fire Safety & Prevention
    • Health & Safety
    • Security
  • Material & Resources
    • Building Products, Tools & Plant
    • Fixtures & Fittings
    • Procurement & Systems
    • PPE & Workwear
  • Business & Legal
    • Accreditations
    • Governing Bodies
    • Insurance
    • Legal
  • Recruitment & Training
    • Awards
    • Education & Apprenticeships
    • Employment
    • Management
No Result
View All Result
Construct America Magazine
No Result
View All Result

Common Expands Property Operations in Philadelphia, Adds Nearly 400 units to Management Portfolio

by Cristoina Diaconu
March 2, 2021
in Residential
RWES RWES RWES

After entering the city last year at The Civic, Common will manage buildings with three innovative local real estate development partners in early 2021

Common Expands Property Operations in Philadelphia, Adds Nearly 400 units to Management Portfolio : Common, the nation’s leading residential brand that designs, leases, and manages multifamily properties that appeal to today’s renters, today announced one of its largest city expansions to date in Philadelphia. Between now and spring of 2021, the company will open and begin operating 396 new units across the city in three different buildings: Common Frankford in Fishtown, Lincoln Square by Common in Southwest Center City, and Common at Broadridge in Fairmount. With a year long track record of strong leasing and operations at Common Civic, Common’s expansion marks their continued growth and commitment to bringing convenient housing options to the city.

Common has seen tremendous growth in the past year, developing well beyond its original coliving product into a robust and global tech-first residential operating platform. In mid-February of 2020, Common began leasing and managing studios and coliving units at Common Civic. Despite the obvious challenges and uncertainty brought on by COVID-19, the team received over 5,000 rental inquiries and conducted 282 virtual tours in the first three months of operations. From July to January of 2021, the occupancy of the building averaged over 96%. As professionals impacted by COVID-19 continue to take advantage of the flexibility that remote work offers, Philadelphia has seen an influx of new residents who are excited to live in a growing and culturally vibrant city. In September 2020, the moving services company, Unacast, reported 7,500 people had moved from New York City to Philadelphia since February. Common has seen that number continue to grow in the months since, and expects it to rise throughout 2021.

YOU MAY ALSO LIKE

LGI Homes Increases Footprint in the Raleigh-Durham Market

New Fisher House dedicated at the Columbia Veterans Affairs Health Care System

“Our mission to create a better rental housing experience through thoughtful technology and operations continues on through our Philadelphia expansion. I’m thrilled to be able to expand our management presence alongside some of the best real estate developers and owners in the city,” said Amalia Paliobeis, Senior Managing Director of Real Estate at Common. “Philly’s influx of new renters crave high quality, well-designed, and convenient places to live that take the stress out of renting an apartment during a global pandemic. Through our expanded portfolio, we can provide a better experience for them and our real estate partners alike.”

In response to demand, Common is announcing operations at three new buildings in Philadelphia during the start of 2021. Already open, Common Frankford is a ground-up traditional and coliving development with Elk Street Management designed by Common’s in-house architecture and interior team, Common Studio, in partnership with CANNODesign. The final impressive product is 15 traditional and 54 coliving units (in three-bedroom unit types) managed by Common, featuring co-working spaces, lounge areas, and a rooftop deck.

“The team at Elk Street is thrilled to bring this project to life with innovative and creative partners like CANNOdesign and Common,” said Paul Horos, Principal at Elk Street Management. “Fishtown is such an eclectic and exciting neighborhood, but as it has increased in popularity everyday renters have often been priced out of the best places to live. With Common Frankford, we’re combining attainability with timeless design in a city we’re proud to call home.”

At the desirable Lincoln Square building in Southwest Center City, established development and management firm Alterra Property Group brought on Common to launch 36 coliving units (in three-bedroom unit types) earlier this year. At the innovative Broadridge building in Fairmount, Common will manage 42 completely furnished studios and 249 coliving units (two-and-three bedroom unit types) across three floors in partnership with RAL Companies starting late spring. Renters at Common at Broadridge will have access to the building’s ideal amenities including two large outdoor decks and a fitness center. In addition, Chesterbrook Academy Preschool -located on the second floor- will also be open to residents as well as the general public.

“We are excited to partner with Common, which will diversify the offering at Broadridge and provide residents with multiple living options,” said Josh Wein, RAL Companies’ Managing Director. “Broadridge is a visionary project built with the support of the community and that will serve as a perfect addition to one of Philadelphia’s most dynamic and vibrant neighborhoods. We are confident Common will further enhance Broadridge’s unique offering, building on the community’s history and the area’s ongoing revitalization”

Common Expands Property Operations : Common has over 18,000 signed units under development in 22 cities across the globe, and continues to disrupt the property management space. The residential brand expects to have over 8,000 units under management by the middle of 2021, and is negotiating another 1,000 units in Philadelphia that will come to market over the next few years. Of Common’s current 4,500 unit portfolio, about half is coliving and half are traditional multifamily apartments. This past year Common announced the finalists for its remote work Request for Proposals, The Remote Work Hub, added former Deputy Mayor of New York City to its Board of Directors and raised $50 million in its Series D venture capital funding round from Kinnevik.

Common Expands Property Operations : For more information visit Common.com.


Construct America Magazine | The Home of Construction Industry News

Tags: commonphiladelphiapropertiesproperty
ShareTweetShare

Search

No Result
View All Result

Recent News

LGI Homes

LGI Homes Increases Footprint in the Raleigh-Durham Market

May 23, 2023
AMA Group

AMA Group joined Hendy Associates for the design of the first U.S. based Mercedes-Benz classic center

May 15, 2023
EagleView

EagleView Technologies appoints Piers Dormeyer to Chief Executive Officer

May 15, 2023

Latest Issue…

Business-to-business trade journal covering major construction industry news within the United States of America, bringing you the most breaking and innovative news stories from coast to coast.

Recent News

  • LGI Homes Increases Footprint in the Raleigh-Durham Market
  • AMA Group joined Hendy Associates for the design of the first U.S. based Mercedes-Benz classic center
  • EagleView Technologies appoints Piers Dormeyer to Chief Executive Officer

Construct America Magazine

Zohar Media Corp.

433 Broadway, Suite 605, New York 10013

press@construct-america.com

editorial@construct-america.com

(+1) 929-506-4972

  • About
  • Media Pack
  • Privacy Policy
  • PublishingHub
  • Contact Us

© 2022 Construct America Magazine | The Home of Construction Industry News.

No Result
View All Result
  • Home
  • Development & Infrastructure
    • Commercial & Industrial
    • Residential
    • Government & Public Sector
    • Infrastructure & Energy
  • Planning & Design
    • Architecture
    • Masterplanning
    • Project Management
    • Restoration & Regeneration
  • Consulting Services
    • Environmental
    • Fire Safety & Prevention
    • Health & Safety
    • Security
  • Material & Resources
    • Building Products, Tools & Plant
    • Fixtures & Fittings
    • Procurement & Systems
    • PPE & Workwear
  • Business & Legal
    • Accreditations
    • Governing Bodies
    • Insurance
    • Legal
  • Recruitment & Training
    • Awards
    • Education & Apprenticeships
    • Employment
    • Management
  • Latest Issue
  • Media Pack
  • Contact

© 2022 Construct America Magazine | The Home of Construction Industry News.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “ACCEPT”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT