Northern Liberties, Philadelphia, October 8, 2025
News Summary
Post Brothers has obtained a $170 million construction loan to build Phase II of Piazza Alta in Northern Liberties. The financing will fund two new podium‑topped buildings — eight and 16 stories — adding 431 apartments and bringing the full complex to 1,126 units. Phase II will include a mix of studios and larger units, premium finishes, in-unit washers and dryers, and resident amenities such as a rooftop lap and lounge pool, fitness and wellness spaces, coworking areas and bike storage. Construction will proceed toward a 2027 completion target, leveraging podiums completed during Phase I.
Post Brothers Lands $170M Construction Loan for Piazza Alta Phase II, 431 Units Planned
Post Brothers has secured $170 million in construction financing from Affinius Capital to build the second phase of Piazza Alta in Philadelphia’s Northern Liberties neighborhood. The financing covers Phase II, which will add 431 apartments across two new buildings and is expected to be finished in 2027 or within roughly the next 26 months from the time of reporting.
What the financing covers and who arranged it
The loan was arranged by a lending team at Ackman‑Ziff Real Estate Group. Multiple sources identified the lender as Affinius Capital, a San Antonio‑based firm with a diversified portfolio and reported assets under management of about $62 billion. This deal continues Affinius’ recent activity in large multifamily and refinancing deals across major U.S. markets.
Project scope and design
Phase II will deliver two buildings rising eight and 16 stories, constructed atop podiums completed during Phase I. Each building will offer a mix of unit sizes, with reported lineups including studios and one‑, two‑ and three‑bedroom apartments; some coverage alternatively lists studios and one‑ and two‑bedrooms. When combined with the 695 units built in Phase I, Piazza Alta will total 1,126 apartments at full build‑out.
Amenities and apartment features
Apartments at Piazza Alta are planned with premium finishes, including stainless steel appliances and in‑unit washers and dryers. Units will offer views of the Philadelphia skyline and the Delaware River where unobstructed sightlines are available. Phase II amenities are slated to include a rooftop lap and lounge pool, grilling stations, fire pits, a fitness and yoga center, dry saunas and a steam room, coworking spaces, and bike storage.
Location and connections
Piazza Alta sits at the corner of Germantown Avenue and North Second Street, providing direct access to the Northern Liberties neighborhood and convenient transit links to downtown Philadelphia. The site is near an elevated transit line at Girard Station on Broad Street and roughly 2 miles from Center City.
Phase I context and master plan
The first phase of Piazza Alta opened in April 2023 at 1099 Germantown Ave and includes three buildings of five, 12 and 16 stories with strong early leasing performance. Phase I also delivered ground‑floor retail, a large pool club amenity, and public green space as part of a larger 28‑acre master planned community known as The Piazza. That master plan mixes residential and retail uses, public gathering areas and a central green, and includes other multifamily projects such as adaptive reuse and mid‑rise developments.
Developer and market background
Post Brothers, the Philadelphia‑based developer behind Piazza Alta, was founded in 2006 and has developed more than 30 properties containing approximately 8,000 apartments and extensive office and retail space. The company has been active in the local market with other large projects and recent acquisitions tied to expansion of The Piazza site.
Local market conditions
The financing comes amid a broader slowdown in new residential permits and construction activity in Philadelphia, where permit volumes fell to lows not seen since 2013. Observers note that while new deliveries have slowed, demand and absorption in certain neighborhoods remain solid, which shaped the decision to move forward with Phase II at Piazza Alta.
Timing and next steps
Construction of Phase II will build on the podiums and retail completed in Phase I. Work is expected to progress over the coming months with a target completion in 2027 or within about 26 months from when the financing was announced. Leasing and marketing will follow as units near delivery.
FAQ
Q: How much financing was secured for Piazza Alta Phase II?
A: Post Brothers secured $170 million in construction financing for Phase II.
Q: Who provided the financing?
A: The construction loan was provided by Affinius Capital, with the deal arranged by Ackman‑Ziff’s lending team.
Q: How many units will Phase II add and when will it be completed?
A: Phase II will add 431 units across two buildings and is expected to be completed in 2027, or within about 26 months.
Q: What kinds of apartments and amenities will Phase II include?
A: Units will include studios and multiple bedroom sizes, with premium finishes like stainless steel appliances and in‑unit washers and dryers. Planned amenities include a rooftop lap and lounge pool, grilling stations, fire pits, fitness and yoga areas, dry saunas, a steam room, coworking spaces and bike storage.
Q: Where is Piazza Alta located?
A: The development is at Germantown Avenue and North Second Street in Northern Liberties, close to transit and about 2 miles from Center City.
Q: How does Phase II fit into the larger site?
A: Phase II sits within a larger 28‑acre master plan called The Piazza, which combines residential buildings, retail, public areas and a central green. Phase II will be built atop podiums completed during Phase I.
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Key project details at a glance
| Feature | Detail |
|---|---|
| Developer | Post Brothers |
| Financing | $170 million construction loan from Affinius Capital |
| Units in Phase II | 431 apartments (mix of studios, 1‑, 2‑ and reported 3‑bedrooms) |
| Total project units at completion | 1,126 apartments (695 from Phase I + 431 Phase II) |
| Building heights | Eight and 16 stories |
| Amenities | Rooftop lap and lounge pool, grilling stations, fire pits, fitness and yoga center, dry saunas, steam room, coworking, bike storage |
| Apartment features | Premium finishes, stainless steel appliances, in‑unit washer/dryers, skyline and river views |
| Location | Corner of Germantown Avenue and North Second Street, Northern Liberties, ~2 miles from Center City |
| Expected completion | 2027 (or roughly 26 months from announcement) |
Deeper Dive: News & Info About This Topic
Additional Resources
- Multi-Housing News: Post Brothers picks up $170M for Philadelphia luxury development
- Wikipedia: Piazza Alta
- The Philadelphia Inquirer: Post Brothers to build Phase II of Piazza Alta
- Google Search: Piazza Alta Philadelphia
- Bisnow Philadelphia: Piazza Alta construction loan
- Google Scholar: Piazza Alta Philadelphia
- PhillyVoice: Northern Liberties apartments — Piazza Alta construction
- Encyclopedia Britannica: Piazza Alta Philadelphia
- YIMBY Philadelphia: Piazza Alta introduces 695 residential units and rooftop pool club
- Google News: Piazza Alta Philadelphia
Author: Construction CA News
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