Garden Court Plaza.

Development is on the agenda of the upcoming annual meeting of the Spruce Hill Community Association (SHCA), which will include a presentation by the new owners of the Garden Court Plaza.

Matthew A. Pestronk, president of Post Brothers, which recently bought the 13-story Garden Court Plaza at 4701 Pine St. (pictured) and plans to invest more than $250 million in housing development in the area, will speak at the meeting, slated for Tuesday, Nov. 10 at Griffith Hall on the USciences campus.

Pestronk will open the meeting at 6:30 p.m. His topic is “Investing in Philadelphia’s Neighborhoods, 2015 – The Challenges and Opportunities.”

After Pestronk’s talk, there will be reports on SHCA activities in the last year and election of officers.

“Come out to mingle, vote and learn about and discuss development in the neighborhood,” said Monica Calkins, SHCA president.

Eric Santoro is running for president and heads up an unopposed slate that includes Calkins for executive vice president.

The entrance to Griffith Hall is on 43rd St. between Regent Sq. and Woodland Ave.

Real estate developer Post Brothers announced recently that it bought the Garden Court Plaza (4701 Pine St.) and is planning upgrades and renovations that has current residents wondering if they will be priced out of their apartments.

Built in the 1920s, the 13-story apartment building, which includes 146 units, was purchased for an undisclosed price as part of Post Brothers $250 million University City acquisition strategy, according to the Philadelphia Business Journal and other news outlets.

A founder of Post Brothers told the Philadelphia Business Journal that there is a shortage of housing geared toward “young professionals” in the area, which he compared to Cambridge, Mass., and that the firm’s strategy is to “upgrade and reposition” properties.

Post Brothers will do substantial renovations to Garden Court Plaza’s interior and exterior and add upscale amenities, according to a press release.

Some current residents who have contacted West Philly Local and asked not be named say they are bracing for big changes, including a substantial rent increase. They said that the new management company has begun asking for tax and pet vaccination information from residents.