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2024 Residential Development that Overcame Significant Obstacles

Development: The Battery

Developer: Lubert-Adler

Location: Philadelphia, PA

2024 JTC Awards - HTC - The BatteryThe residential development that overcame significant obstacles award goes to The Battery in Philadelphia. A long-abandoned power plant is now a mixed-use building that includes 186 apartments. The Battery includes 500,000 square feet of floor space in what was formerly the Philadelphia Electric Company’s Delaware Station. The Delaware Station was completed in 1923 and remained the largest source of electricity for the city for years before it was retired in 1975. Thirty years later, after threats of demolition, the property was purchased and Luber-Adler handled the redevelopment. In addition to apartments, the Battery includes offices, venues for special events and a 45-room hotel. $30 million in historic tax credit equity came from Wells Fargo and the National Trust Community Investment Corporation.

Honorable Mention

In the residential development that overcame significant obstacles category, honorable mention goes to Mock Judson Hill in Greensboro, North Carolina. The developer is Capital Broadcasting Company.

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