Chestnut Street is about to get a lot busier.
In 60 days, developers hope to begin construction on the Hub 3939, which will be a sibling of current mixed-use building Hub I, located on 40th and Chestnut streets. The seven-story project will include two stories of retail and office space, and five stories of apartments.
Construction is expected to finish by mid to late fall of 2014, and building developers JNA Capital, Inc. plan for a January 2015 opening. The building will likely be renamed before opening.
No specific retailers have been announced for the Hub 3939.
The first floor of the building will house a restaurant that is of a “similar caliber” to Distrito, the Mexican restaurant in the Hub, Ahsan Nasratullah, a representative from JNA Capital, Inc. said. Currently, they are talking to a “top” restaurant that would take up the entire 5,000 square feet of the first floor, he added.
The chosen restaurant will spill out into a plaza with outdoor seating between both Hub buildings. The second floor, which could be occupied by multiple tenants, will contain something along the lines of medical services or a fitness center.
Both tenants and neighborhood residents will have access to the retail offerings — though there will be separate entrances for retail and commercial use.
More specific information on the project will be available in coming weeks, as it passes through several review committees.
“At this time, the project needs to complete some regulatory and neighborhood approvals, which we anticipate to be in place around Oct. 1,” Ed Datz, Penn Facilities and Real Estate Services executive director of Real Estate, said in an email.
Hub 3939 will include 65 apartments. They will be slightly larger and more expensive than the apartments in the original Hub, and have a more polished feel.
“Hub I was designed to be more utilitarian,” Nasratullah said. “This one will have carpeted floors and more finishes.”
The Hub 3939’s exterior will also have a sleeker feel than its sibling building. Though it will sport the same paneled design as Hub I, the panels will be made of brown and black wood instead of the Hub’s red, yellow and green.
“It will be modern and make a statement,” Nasratullah said.
Construction of the Hub 3939 requires the demolition of Thai Singha House, which was near 40th and Chestnut streets. The restaurant is is currently on a hiatus before it relocates to 3900 Chestnut St.
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