Benchmarks

Domus: Changing the Skyline and the Street Life

A ceremonial groundbreaking was held last Friday morning to celebrate the construction of Domus, a $71 million luxury mixed-use development project. Domus, scheduled to debut in late 2007—is named after the Latin word for “home” will include five-star rental living featuring 290 premium residences averaging 1,104 square feet, plus 23,000 square feet of ground floor retail. The Houston-based developer, The Hanover Company, is overseeing the construction of the site. The eight-story building will also include a dedicated, five-story parking garage with controlled access to 320 spaces. The space had long been a 2.5-acre surface parking lot at the northwest corner of 34th and Chestnut, next to the Sheraton. Cars have not parked there for a couple months and the transformation has begun.

President Amy Gutmann said that more than a century ago Penn embarked on a 20-year building program that included Houston Hall, Franklin Field, the engineering building and more. This, she said is the “next great expansion.”

Penn has forged a partnership with the award-winning developer to “create a new neighborhood, generate new jobs, and provide opportunities for people to call University City home.” That was how Senior Vice President for Facilities and Real Estate Omar Blaik described the construction project that has been in the planning stages for years.

“Penn’s interest in this project started several years ago with the acquisition from the Redevelopment Authority (RDA). The Redevelopment Authority’s vision and commitment to seeing Philadelphia as a city that builds neighborhoods is consistent with our goals and values,” Mr. Blaik said.

Mr. Blaik said that, “this development is an important step in fulfilling our commitment for improving this campus and supporting our community.”  He added, “this project knits together campus and city in a seamless way illustrating how interdependent the futures of Penn and the city are.”

Penn will lease the land to Hanover for 65 years. Hanover’s vice president for construction Larry McCowen said he was pleased to be a developer in Penn’s master plan. He said they are currently selecting candidates from a national pool to create art in compliance with the 1% RDA requirement.

“Let’s Dig!”(left to right) EVP Craig Carnaroli; Hanover’s VP for Construction Larry McCown; VP for Facilities and Real Estate Omar Blaik; President Amy Gutmann; RDA Board Chairman John Doughtery; RDA Executive Director Herbert Wetzel, and Paul Sehnert,  director of development management, Facilities and Real Estate Services.