Citizens Bank announced that its Community Development Group has provided a $19 million loan to 2601 Poplar OZ, LLC, whose sponsor is Daniel Greenberg, for the acquisition and construction of a new mixed used project at 2601 Poplar St. in Philadelphia that will have 108 market-rate apartments and 11,000 square feet of commercial space.  Equity was provided by a partnership between Sage Real Estate Group and Jay Goldstein. The project will re-develop a vacant property. 

Separately, Citizens also provided an $8.5 million construction loan to Equinox Glenwood, LLC, whose sponsor is Jonathan Weiss, for the acquisition and construction of a new mixed used project at 3029-31 W. Glenwood Ave. in Philadelphia that will have 49 market-rate apartments and 1,488 square feet of commercial space.  The project will also re-develop a vacant property.  

“These housing projects will meet a crucial need in our community and these loans demonstrate Citizens’ strong commitment to support more housing options for Philadelphia residents,” said Daniel K. Fitzpatrick, President of Citizens Bank, Mid-Atlantic Region and Head of National Industry Verticals Banking.