Northwest Philadelphia developer Ken Weinstein wants to bring office and maker spaces to Germantown Avenue in Nicetown.
Ken Weinstein, president of Philly Office Retail, plans to redevelop the building at 3939 Germantown Ave., for nonprofits, start-ups, artists, and service providers.The office market may be in the midst of one of its weakest periods ever, but Northwest Philadelphia developer Ken Weinstein is confident there is appetite for small working spaces in the city’s neighborhoods.to convert and expand an old industrial and office building at 3939 Germantown Ave.
The Olympian is less than half a mile up Germantown Avenue from the bustling intersection of Broad Street and Erie Avenue and. The seven-story building, with an annex on the back that once supported the trucks of a shipping company, is in a haggard state and hasn’t been substantially reinvested in for decades.into a popular warren of small businesses and studios — Weinstein wants to bring 115 “flex spaces” to the Olympian.
“We saw it as a great opportunity to bless the community with employment opportunities in the demolition and construction, as well as options for community business owners for office space and as ongoing service jobs within the new construction,” K. Marshall Williams, senior pastor at Nazarene, said in an email message.
“One of our concerns with the building is that there are single-family homes behind it, so we thought building another seven stories would block the sunlight and the air,” said Charles Carn, of the 13th Ward. Weinstein’s vision for the seven-story addition includes a passenger elevator, more bathrooms, and an expanded number of offices, studio, and maker spaces ranging in size from 150- to 2,000-square-feet. He projects rents at $12 a square foot — about a third the cost of the average for the Philly market.Scannapieco’s successful renovation of a derelict public high school is almost four times as large by square feet as Weinstein’s project would be, and it offers no parking.
Weinstein envisions that the Olympic will draw tenants from a wider geographic area than just Nicetown. That’s part of why he thinks it’s important to provide almost one-for-one parking.
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