South Kensington project planned with slain developer Sean Schellenger hits the market, sans coworking
Property investor Sean Frankel, who planned to build the project with Schellenger, said he is selling the property because of issues involving its financing after the partner's death.
A South Kensington apartment project that was to have included free ground-floor coworking space for use by local entrepreneurs is being put on the market after the death of one of the partners on the building, slain developer Sean Schellenger.
Property investor Sean Frankel, who planned to build the project he was calling "Techadelphia" with Schellenger on North American Street near Oxford Street, said he is selling the property because of issues involving its financing after the partner's death.
The project site at 1525 N. American St. is being sold with plans for the five-story, 68-unit apartment building that Frankel and Schellenger had received zoning permission to build. Frankel said there is no way of requiring a buyer to include the free coworking space, which was presented to community members during the project's permitting process.
In a sales brochure prepared by Rittenhouse Realty Advisors, which is marketing the property for $3.9 million, the project is shown to include 13 lower-story offices to be made available for rent, in addition to the apartments.
Schellenger, 37, had been working on Techadelphia separately from his main homebuilding business, South Philadelphia-based Streamline Group, which continues to develop projects throughout the city. The developer was stabbed to death in July during an altercation with a bicycle courier who allegedly became involved in an argument the developer was having with another person near Rittenhouse Square.