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A rendering of the new Target to be built at 37th and Chestnut Streets (Rendering from OCF Realty).

Target plans to open a new store near Penn's campus on 37th and Chestnut streets. 

The store's opening date has yet to be announced. The Philadelphia University City store will be an addition to The Mason on Chestnut at 3701 Chestnut Street, a Target spokesperson wrote in an email to The Daily Pennsylvanian. The 14-story building has been student housing since the 1970s. The Philadelphia Historical Commission approved the addition on July 8, Executive Director Jon Farnham wrote in an email to the DP.

"We’re excited to bring an easy, safe and convenient shopping experience to new guests in the community with this new Target store," a Target spokesperson wrote. "As we get closer to opening the store, we’ll have more specific details to share – including how the shopping experience will be tailored to serve local guests and the grand opening date."

The spokesperson, Farnham, and the director of marketing for Alterra Property, the property's developer, could not report a timeline for the projected completion of the project. The University City store will be the ninth Target in Philadelphia. Previously, the closest Target to Penn's campus was the Rittenhouse Square location at 19th and Chestnut Streets.

Construction on the addition started on October 28, requiring residents of The Mason to enter and exit from the building from its 37th Street entrance. 

The building permit, which the city approved in September, states that the addition will take up 18,199 square feet. The construction is estimated to cost $6.5 million. The Historical Commission’s approval was required to ensure that the addition would meet standards for historical preservation of the building, Farnham wrote.

The construction of the new store comes amid a flurry of new construction projects in University City. Drexel University's real estate development partner announced plans last month for a new life sciences research building and grocery store on Market Street between 38th and 39th Streets. In January, Penn will close the McDonald's at 40th and Walnut Streets to begin a $35 million redevelopment project to turn the building into a six-story, mixed-use office building.

In March of 2020, Fresh Grocer closed at 40th and Walnut Streets. Acme later opened in its spot, but the closure left students concerned about lack of access to groceries near campus.