Developer LCOR has broken ground on 51 Washington St., a transit-oriented, 304-unit apartment community in suburban Philadelphia. The seven-story project in Conshohocken, Pa., is slated for completion in the early fall of 2022. Webster Bank is providing construction financing for the Niles Bolton Associates-designed project, which is being built by CBG Building Co.
Located steps away from the Conshohocken station of the Southeastern Pennsylvania Transportation Authority (SEPTA) system, the project marks LCOR’s fourth development in the Philadelphia area. The regional transit system provides access to Philadelphia’s Center City district, roughly 12 miles away, as well as employment hubs in the western suburbs.
The high-end property will feature studio, one- and two-bedroom floor plans along with 17,000 square feet of amenity and management space including an interior courtyard, outdoor pool, clubroom, formal lounge and fitness enter. Residents at 51 Washington St. will also have access to a two-level garage with around 366 parking spaces.
With views of the Schuylkill River, the property is adjacent to the Schuylkill River Trail and within walking distance of a plethora of neighborhood amenities in Conshohocken, an affluent borough of roughly 8,000 people.
LCOR, which focuses on the multifamily sector in East Coast urban markets, has developed more than 300 large-scale mixed-use projects and manages a portfolio of more than 10,000 multifamily units in addition to commercial space.
GMH Capital Partners recently started construction of The Pendleton at Malvern, a 225-unit community in the suburb of Malvern, Pa.