Approving the Drexel University Proposed Revision to its Institutional Development District Master Plan Pursuant to Chapter 14-1107(c) of The Philadelphia Code Relating to, "Zoning and Planning."

WHEREAS, By resolution dated July 19, 2011, the City Planning Commission recommended approval of Drexel University's revision to its Institutional Development District Master Plan for construction of the new Chestnut Street Student Residential Facility located on Chestnut Street between 32nd and 33rd Streets, in the 3rd Council District of Philadelphia; and

WHEREAS, The project includes 360,000 square feet of residential space, housing approximately 863 students. The facility will also include 36,000 square feet of retail and office space along the Chestnut Street frontage. The structures will consist of two 8 story low-rise buildings and a 19 story high-rise residential tower at the corner of 32nd and Chestnut Streets. A 101,500 square foot parking structure containing 267 spaces is also proposed for the south side of the existing Creese Student Center. Access to the parking structure will be from 32nd Street. The heights of the structures will vary from 90 feet to 183 feet. (the “Proposed Revision”); and

WHEREAS, Drexel University has committed to an Economic Opportunity Plan attached hereto as Exhibit A, which provides for contracting and employment opportunities for minorities, women and the disabled; and

WHEREAS, Chapter 14-1107(c) requires City Council to approve, disapprove or defer the Proposed Revision within 45 days of City Planning's recommendation or the Proposed Revision is presumed approved; now therefore, be it

RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That the Drexel University's Proposed Revision to its Institutional Development District Master Plan is Approved.

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