Daily Newsletter

08 November 2023

Daily Newsletter

08 November 2023

Infinity Real Estate announces topping off of housing expansion project

The seven-storey building features 220 apartments above an existing car park.

November 07 2023

American housing developer Infinity Real Estate and general contractor HC Pody Construction have celebrated the topping-off ceremony of a new housing project in West Philadelphia, US.

The project serves as an expansion to the Garden Court Plaza, a 13-storey apartment tower located at 4701 Pine Street.

Located at the corner of Pine and 47th Streets, the expansion has been designed by architecture and interior design company BLTa Architects.

This added seven-storey, 198,000ft² building features 220 apartments above an existing car park and street-front retail areas.    

The new addition to the upscale residential rental complex comprises 66 studio apartments, as well as 121 one-bedroom and 33 two-bedroom floor plans.

Features of the addition include a co-working area, a children’s playroom, a fitness centre, a media lounge, a yoga and group exercise area, along with a two-storey indoor parking garage that can accommodate up to 260 vehicles.

Infinity Real Estate managing director Steve Kassin said: “We are thrilled to be preserving and rehabilitating the historic portions of this iconic property and growing its scale, amenities, and service offerings in one of Philadelphia’s most vibrant neighbourhoods.”

Infinity Collective funded the project with an Acore Capital loan while Alterra Property Group is managing, marketing, and leasing the property.

Investment in the infrastructure and energy & utilities sectors remains a major driver of overall construction growth

Infrastructure and Energy & Utilities sectors expanded in 2020 despite COVID-19 disruptions, which reflected the efforts by governments and public institutions to accelerate investment to stimulate activity. The recovery from the pandemic and the easing of restrictions allowed the resumption of work on major projects in 2021, and growth is set to remain strong in the coming years, particularly given major investment programs in the US and China.

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