This evening Drexel University will break ground on Chestnut Square, a major mixed-use development along Chestnut Street between 32nd and 33rd streets.
The project, designed by Robert A.M. Stern Architects, will add on-campus student housing to answer growing demand and will create a more urbane presence for the University by adding ground-floor commercial spaces along Chestnut Street. The project will cost an estimated $97.6 million, and should be completed in September 2013.
Chestnut Square will add 361,200 square feet of residential and commercial space on Chestnut Street, through the addition of two eight-story buildings framing the passage to the Creese Student Center, a 19-story residential tower at 32nd Street, and glassy street level spaces for retail and restaurant use. All told the development will have space to house 869 students and 11 retail tenants.
Drexel is developing Chestnut Square in partnership with American Campus Communities, which will also manage the project. The official ground breaking ceremony will take place at 6pm tonight (2/21) in front of Creese Café, in the courtyard between the Creese Student Center and MacAlister Hall.