Alden Park Apartments Awarded 2018 Preservation Achievement Grand Jury Award

PHILADELPHIA, May 15, 2018 (GLOBE NEWSWIRE) -- Alden Park Apartments, an almost 100-year old apartment community in Philadelphia which has recently completed a $70+ million historic renovation, has been awarded a 2018 Grand Jury Award by the Preservation Alliance for Greater Philadelphia, in recognition of its excellence and dedication to historic preservation. The award will be presented at the Alliance’s annual dinner on June 6, 2018.

Alden Park is a collection of six high-rise apartment buildings set on a verdant 37-acre site bordering Fairmount Park in Northwest Philadelphia. The Renaissance Revival-style towers were designed by architect Edwyn Rorke of Kenneth M. DeVos & Company, and developed in three phases between 1923 and 1928, initially by Chicago-based developer C.C. Mitchel and completed by another Chicagoan, Lawrence E. Jones.

When first built, Alden Park symbolized the explosion in apartment construction in American cities beginning in the 1920’s. In Philadelphia, the development was particularly significant in that it provided a new type of cooperative multi-family housing for well-off residents in a city that was largely characterized by single-family home ownership. In order to attract the upper-middle class tenants that were desired, Alden Park’s developers chose a verdant hill-top location in the suburban-like setting of Northwest Philadelphia, providing lush gardens, tennis courts, a swimming pool, and other amenities desired by tenants leaving the crowded downtown.

Reflecting its significant and unique architecture, Alden was placed on the National Register of Historic Places in 1980 and on the Philadelphia Register of Historic Places in 1981.

Alden’s historic renovation initiated by L3C Capital Partners and its Briarwood Construction subsidiary in 2015, sought to restore grandeur to Alden, once again offering its residents the finest in luxury apartment living and amenities. The site today offers residential units with luxury finishes including all new kitchens with granite countertops, stainless steel appliances, and faux wood flooring, as well as updated amenities including an indoor and outdoor pool, multiple clubrooms, two fitness centers, dog park, outdoor grilling kitchens, multiple sundecks and gardens, and a Peloton spin studio. Today Alden Park is professionally managed by Lincoln Property Company, the second largest multifamily manager in the United States.

About L3C Capital Partners

L3C Capital Partners LLC is a New York based investor and asset manager of multifamily residential real estate. Founded in 2009, together with its affiliated entities, L3CCP and its principals have owned and operated over 8,400 units across the Northeast, Mid-Atlantic, Midwest and Southeast United States.

About Lincoln Property Company

Lincoln Property Company was founded in 1965 and focuses on real estate investment, construction and development, and property management throughout the United States. With over 190,000 apartment units under management, their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader.

Media Contact:

Sheri Sandefur Killingsworth, Vice President - Marketing & Communications
214-740-3300 | corporate@lpsi.com 
SOURCE Lincoln Property Company