Adjacent to the Washington Lane Station on SEPTA’s Chestnut Hill East Line, Mt. Airy CDC identified several abandoned and blighted brownfield parcels with redevelopment potential. Originally envisioned as a transit-oriented mixed-use residential and commercial development, Mt. Airy CDC created Mt. Airy Transit Village (MATV) a 501(c)(3) non-profit for the purpose of holding and redeveloping the site.
Early in the planning process, the Wissahickon Charter School (WCS) identified the site as a prime candidate for planned expansion, as the site offered the opportunity to leverage adjacency to the Awbury Arboretum to offer an environmentally based curriculum including an outdoor educational classroom. Subsequently, control of MATV was transferred to a new board of directors to guide WCS interests.
Mt. Airy CDC facilitated the development of this ground-up construction project. Historically used as an industrial site, a significant amount of environmental remediation was required. Mt. Airy CDC worked with the community to obtain the necessary land use approvals, guided the selection process to engage a design team and project attorney, and managed the design process and financial modelling to ensure the school’s budget was met.
| TYPE: | New Construction |
| USE: | Special Purpose – Educational |
| DEVELOPMENT CONFIGURATION: | K-8 charter school 49,750 square foot two-story building containing 23 classrooms for up to 500 elementary and middle-school students |
| MT. AIRY CDC INVOLVEMENT: | Site acquisition and disposition – 3.77 acre site Feasibility & planning Land assembly / consolidation Sourced debt & equity and structuring Regulatory & approvals Development & contract management Sourced construction manager |
| FINANCING: | Grant – Pennsylvania Redevelopment Assistance Capital Program (RACP) Grant – New Markets Tax Credit Program (NMTC) Loan – New Markets Tax Credit Program (NMTC) |