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Senator Farnese Announces $1.5M Grant for Gotham Building Project
On September 5, 2018
Philadelphia, September 5, 2018 – Senator Larry Farnese (D-Philadelphia) today announced $1.5 million in state grant funding for the Gotham Building project in Philadelphia. The funding was approved through the Redevelopment Assistance Capital Program (RACP).
“The extensive restoration and re-use of the Gotham Building will be fantastic for our area, utilizing the latest technology in sustainability and energy efficiency” Farnese said. “This project is slated to bring commercial and affordable housing units which will greatly benefit our whole community.”
The Gotham Silk Hosiery Building was constructed in 1922 as the Gotham Brand’s center for manufacturing. The facility closed in the 1950’s and the building has since been a wicker warehouse for the Charles Schober Company. The final product of its revitalization will consist of six properties total. The $1,500,000 approved grant will provide for the total historic renovation of existing buildings and adaptive re-use of space to become a mixed-use complex. The complex will include 6,600 square feet of commercial space on the ground floors and 120 residential units above.
The sustainability scope of the project will include the construction of green roofs across all common and private rooftops to control storm water and combat the urban heat island effect while also creating rooftop amenity space. The green roof systems will be sustained through the use of a project-wide rainwater recycling system. Also, the improvements will include the installation of Energy Star lighting, hybrid car hookups, and a solar panel system to supply all common area lighting.
“Increasing business opportunities and housing is a win and I look forward to seeing this project come together,” said Farnese. “Multi-use complexes, like this project, serve as a great base for community business and living.”
A variety of businesses can benefit from the commercial space, which will include a restaurant space and street front retail units. Interest in relocating to the area has already been shown by E-Build, a growing construction and development firm, and a co-working / business incubator space.