Accurate enters Philly market

Accurate recently celebrated the lease up of its Somerset County community, Crossings at Raritan Station — a transit-adjacent multifamily offering full of amenities and near major state thoroughfares. Now, the firm with offices in Lakewood and Edison is making its move into the City of Brotherly Love.

Accurate announced two new projects coming to the urban Philadelphia market June 9—its first in city, marking an expansion for the developer that will deliver 499 new-construction residences to the Northern Liberties and University City neighborhoods.

A third site under contract is expected to bring at least 118 more residences to another of the city’s prime neighborhoods.

“We are delighted to expand our development activity into the Philadelphia market and feel fortunate to have secured sites in such dynamic settings,” said Accurate President and CEO Jack Klugmann in a prepared statement. “We look forward to introducing new residential options to these neighborhoods that will mesh into the overall context and culture of their surroundings.”

The Northern Liberties project will be located at 650 Fairmont Ave., adding a mix of 404 multifamily units and for-sale homes: 297 rental residences accounting for the former and 107 single, duplex and triplex townhomes making up the latter. Sitework is already underway at the property, according to the firm, which is situated in a neighborhood known for its food options, coffee bars, nightlife and connection to the local art scene.

In University City — home to hospitals and higher education institutions — Accurate plans to break ground this month on a project that will bring a 95-unit residential building rising seven stories at 4050 Ludlow St.

In the Garden State, Accurate has a number of projects underway as well, including Citizen Linden, Morris Marketplace, Citizen Bayonne and CitiSquare Newark. Overall, the firm says it is developing more than 10,000 residential units across New Jersey, Connecticut, Pennsylvania and Florida.