UC Funds has secured a $20.5-million construction loan for the phase II of Liberty Square, a mixed-use project in Philadelphia.
The project, located at 236 W. Thompson St., will feature 191 residential units and 6,700 sq. ft. of ground-floor retail space.
The money will fund the construction of 89 of the residential units and all of the retail area, including 79 residential units and 10 live/work units. Amenities will include an underground parking garage, a fitness center and a landscaped plaza with a dog park.
Liberty Square is a planned three-phase, mixed-use complex that spans an entire city block. Phase I is currently under construction, which consists of three-story residential buildings.