With the Hub retail and apartment building completed in 2006, and with plans for a second complex in the works, the developer has announced that a Hub III is also on the way.
The Philadelphia-based development firm Teres Holdings has secured a contract to build the Hub III at 3939 Chestnut Street.
Hub II will also be built near the street from the original Hub, which is located at 40th and Chestnut streets.
Construction on both properties is scheduled to begin in 2009, after construction on Hub II was pushed back this summer due to the developer's decision to expand the project.
As a result, construction on Hub III will begin early next year, said Teres Holdings Chief Operating Officer Bob Hoe, with construction on Hub II starting next summer.
Hub III is slated to be complete in late 2009 or early 2010, Hoe said.
Early projections for Hub III anticipate the building to cost more than $19 million and to contain 60 apartments.
Hoe attributed the University's interest in adding additional Hubs to the success of Hub I.
"It's good that the first Hub has been successful because it allows us to get underway with subsequent phases," Hoe said. He added that he believed offering a variety of types of housing in West Philadelphia would be successful.
"We think there continues to be a strong demand for housing of all types, and the University continues to pursue diversity in housing options," he said.
Hoe said he was not sure which retail options would be considered for Hubs II and III, but he noted a furniture store, media outlet, medical service and restaurant as possible options.
The first Hub houses Distrito - a Jose Garces Mexican restaurant - and a hair salon.
Penn Facilities spokesman Tony Sorrentino sees the future addition of the Hub complexes as a continuing effort to provide luxurious off-campus housing options that are still close to campus.
"When students choose to live in the Hub buildings, they are living off-campus technically, but by being closer to campus, they are choosing to live in the heart of campus, among the vibrant shops, restaurants and cafes," he wrote an e-mail.
Sorrentino added that the second and third Hubs would also generate jobs relating to the construction and management of the buildings.
Apartments in Hubs II and III will be priced similarly to Hub I - from about $600 to $1,900 per month, according to Hoe.
He added that the two buildings, like Hub I, would be a bit more geared toward graduate students and young professionals.
Philippe Pradel, a junior in the College, said he enjoys his apartment in Hub I because the building is clean and convenient, and the residents are nice. Still, he did not rule out a possible switch to one of the newer buildings once they are completed.
"I don't see why not," he said. "I like it here, but if they have something better to offer, I'd consider it."
This article has been updated to correct the address of the Hub III, which will be located at 3939 Chestnut St. The original version said the building would be located at 3939 Walnut St.
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