Iron Mill Lofts

Adaptive reuse of historic factory into multifamily apartments

Acquisition and repositioning of a historic 12-unit multifamily property in the Northern Liberties neighborhood of Philadelphia. Prior ownership converted the historic industrial property into large voluminous 1-bedroom units. Urban Conversions identified the underserved 3-bedroom rental market in the Northern Liberties and that Iron Mill Lofts was not constructed to its highest and best use. The property was significantly renovated into 3-bedroom bi-level Class A rental apartments, which experienced quick absorption.