PMC Announces New Acquisition: 312 Walnut Street

Philadelphia, PA — PMC Property Group, along with King of Prussia, Pa.-based Nolen Properties, recently closed on the acquisition of Walnut Place, the long-vacant former home of the Maryland Casualty Company on the 300 block of Walnut Street in Independence Square. This 6-story, 65,000 square-foot building, originally constructed in 1926 on more than half an acre of land, is now listed on Philadelphia's Register of Historic Places.

The redevelopment of 312 Walnut Street, which was formerly owned by the Archdiocese of Philadelphia, will include rehabilitation and the addition of 70+ apartments in the upper floors and 3,000+ sf of commercial space on the ground floor. Both PMC and Nolen Properties are committed to maintaining many of the historical aspects of the building while offering comfortable living through modern amenities.

The building is slated for occupancy in early 2013.