Reserve at Packer Park
(former Capehart site)
24 acre site in South Philadelphiaacquired from City December 2002
for $5.1 million
Sale proceeds will create homeless housing trust fund
Pattison Avenue, Penrose Avenue, 20th Street
Westrum Development Co. in conjunction with Capozzi Real Estate
230 luxury townhomes
Additional phases: approx 200 more units:
Regency at Packer Park
2-3 Bedroom Condos with 2.5 baths
The Villas at Packer Park
2-3 Bedroom Custom Stacked Townhouses with 2.5 baths
The average house sells for $375,400 and has three bedrooms, two-and-a-half
bathrooms and either a garage or a driveway (no basements); some have
small decks in the back. More spacious models go for $450,000.
The homes come with a 10-year tax-abatement plan that requires residents
to pay tax on their land and not on their buildings.
Project Funding: Total Project Cost $100 million
Westrum Development Co.
The Reserve at Packer Park is located on the
former Capehart naval housing site. Area first developed in the 1950s.
This part of South Philadelphia is very diverse with a strong residential
market bounded by FDR park, the sports stadiums and the Schuylkill expressway.
Access to I-95 and the airport is minutes away. Center City can be accessed
by extensive public transportation routes including the Broad Street
Subway. The City's major role in this project was land acquisition and