640
North Broad Street:
Silverang Hallowell’s work to reposition
the former industrial building at 640 North Broad Street
exemplifies the value our work adds to a property. Located
just six blocks from City Hall and within walking distance
to downtown offices, restaurants and shopping, Silverang
Hallowell saw 640 North Broad as a great opportunity for
residential conversion.
Our efforts to prepare the
property for re-zoning - by securing necessary variances
for new construction, remedying environmental hazards, and
working with state and local preservation authorities to
secure necessary permits - in and of itself created value
to pass along to our investors. Our proposal to create
211 residential apartments, 200 new parking spots and 16,000
square feet of commercial or retail space soon attracted
the attention of other developers. Silverang Hallowell
ultimately sold the property to a large residential developer
at a substantial profit.
