Micro Units Do Well in Center City
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Alterra Property Group has opened Avenir @ 1515 Chestnut, which has 180 apartments—60 of which are micro units. The micro units range from 320 SF to 420 SF, with rents ranging from $1,050/month to $1,350/month. Leases have been inked for 45 of the micro units, the Philadelphia Business Journal reports. So far, half the overall 180 apartments are leased. [PBJ]