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Chestnut Square Sets Philly and Manhattan-based Table in University City

  Chestnut Square Sets Philly and Manhattan-based Table in University City

Business Wire

PHILADELPHIA -- February 15, 2013

Drexel University and American Campus Communities, Inc. (NYSE:ACC) add local
flavor to Chestnut Square, the newest urban mixed-use housing, with the
announcement of featured eateries Zama’s second location coZara, Shake Shack®,
Zavino and Joe Coffee.

Chestnut Square Courtyard (Photo: Business Wire)

Chestnut Square Courtyard (Photo: Business Wire)

“The addition of these acclaimed retail tenants to Drexel University and the
surrounding communities will expand the rich and diverse culinary options
available in the University City area,” said Drexel University President John
A. Fry. “We are proud to have tenants of this quality and character on our
campus and believe that we have created a unique retail destination for the
city at large.”

This mixed-use block will transform Chestnut Street between 32nd and 33rd
Streets into a new gateway for Drexel University and University City,
featuring approximately 361,200 square feet of retail and service space along
with urban living. The addition of these locally and regionally owned
restaurants will provide residents and visitors with culinary authenticity and
award-winning excellence within a diverse price range.

coZara

Chef Hiroyuki “Zama” Tanaka, owner of Zama, a Rittenhouse Square sushi
restaurant best known for palette pleasing dishes with an elegant aesthetic,
will open the restaurant’s second location coZara (Japanese for small plates)
in Chestnut Square. Zama has served Philadelphia at its 19th Street location
and after only three years was recently proclaimed among the “50 Best
Restaurants in Philadelphia in 2013” by Philadelphia Magazine. Chef Tanaka
describes coZara as a traditional Japanese Izakaya featuring ramen, Noodle,
Donburi, yakitori and dumplings. For more information visit zamaphilly.com.

Shake Shack®

Renowned NYC restaurateur, Danny Meyer, and Union Square Hospitality Group
(USHG) are proud to announce the celebrated burger stand’s newest location in
Chestnut Square, set to open late summer. Shake Shack is a modern day
“roadside” burger stand known for its all-natural burgers, flat-top dogs,
frozen custard and more. In addition to quality ingredients, an authentic
commitment to sustainability, and giving back to the community, Shake Shack
was recently distinguished in Bon Appétit’s “20 Most Important Restaurants in
2013.” For more information visit shakeshack.com.

Zavino

Zavino, a local Philadelphia wine bar and eatery previously featured in the
“Top 50 Restaurants” by Philadelphia Magazine, showcases a second location at
Chestnut Square. The original location opened in 2009 in the Midtown Village
neighborhood and features homemade pastas, seasonal small plates and
Neapolitan style pizza. For more information visit zavino.com.

Joe Coffee

Joe, a Manhattan-based, family-owned specialty coffee shop, will open a 10th
location in Chestnut Square in late summer this year. Since opening in 2003,
this cup of Joe has racked up rave reviews from New York Magazine to The Los
Angeles Times. Joe touts their dedication to making flawless coffee served
with warm hospitality and has been named one of the “Best U.S. Coffee Bars” by
Food & Wine, listed as one of “10 Outstanding Coffee Bars in New York City” by
The New York Times, and has had a number of articles, mentions and awards
besides. For more information visit joenewyork.com.

Eateries and retail at Chestnut Square not only mean quality and convenience
in options for residents, but will also translate into more than 100
additional jobs for the community. Retail brokerage and consulting firm
Michael Salove Company (MSC) and American Campus have teamed up to find the
best mix of eateries and services to serve the Drexel University and the
University of Pennsylvania populations at Chestnut Square and are currently
planning to add a dessert specialty shop and a variety of other services and
retail.

Designed by internationally acclaimed Robert A.M. Stern Architects, the
development will include two eight-story buildings that front Chestnut Street
while maintaining an open entry corridor to the adjacent Creese Student
Center. The broad use of glass at the street level combined with limestone
will continue Drexel’s progress toward creating a pedestrian-friendly,
mixed-use campus district enlivened by retail amenities.

The building design will also include a 19-story residential tower at the
corner of Chestnut and 32nd streets. In addition to the eateries, the
two-story street-level space will include retail outlets, neighborhood
restaurants, and a new corner entry into the Barnes and Noble.

About American Campus Communities

American Campus Communities, Inc. is the largest developer, owner and manager
of high-quality student housing communities in the United States. The company
is a fully integrated, self-managed and self-administered equity real estate
investment trust (REIT) with expertise in the design, finance, development,
construction management, and operational management of student housing
properties. American Campus Communities owns 160 student housing properties
containing approximately 98,800 beds. Including its owned and third-party
managed properties, ACC's total managed portfolio consists of 187 properties
with approximately 121,300 beds. Visit americancampus.com or
studenthousing.com.

Photos/Multimedia Gallery Available:
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Contact:

American Campus Communities, Inc., Austin
Gina Cowart, 512-732-1000
Public Relations
 
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