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LCOR has broken ground on a 45OK SF, 304-unit apartment complex at 51 Washington St. in Conshohocken, Pennsylvania, outside of Philadelphia.
The property will be steps away from the Southeastern Pennsylvania Transportation Authority's new $15M Conshohocken Regional Rail Station that opened in the fall, providing easy access to Center City Philadelphia and other suburban employment centers.
LCOR bought the 3.24-acre project from Mack-Cali’s Roseland affiliate. Roseland purchased the property for $14.1M in 2014, according to the Philadelphia Business Journal. Roseland scrapped plans to build a $70M, 298-unit project and decided to put the land up for sale. LCOR declined to disclose its spending plans for 51 Washington St. The project is expected to be completed in 2022.
“Upon completion, 51 Washington St. will present this community with an exceptional and unique living experience,” LCOR principal Peter DiLullo said. "With its growing employment opportunities and close proximity to Philadelphia’s city center, Conshohocken is a thriving economy to which we’re eager to contribute.”
According to the company, 51 Washington St. will include a mix of studio, one- and two-bedroom floor plan configurations, and 17K SF of amenity and management space including an outdoor pool and interior courtyards, a golf simulator, a clubroom, a formal lounge and acovered outdoor area overlooking a swimming pool with waterfall edge and sun shelf.
LCOR’s other developments in the area include Arlo in Malvern, 1919 Market St. in Philadelphia and Heathergate at Oxford Valley in Langhorne.
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