Posted Dec 12, 2023, 2:46 AM
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Join Date: Oct 2011
Location: Philadelphia
Posts: 18,370
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Equus debuts 12-story apartment building in Conshohocken after scrapping office plans for the site
Quote:
Five years after waving goodbye to the AmerisourceBergen project, Equus this week welcomes its first residents to the 348-unit apartment building developed in its place. The 12-story, steel-framed structure, named Madison West Elm, occupies the site along the Schuylkill River next to SEPTA’s Conshohocken station and the Schuylkill River Trail.
Spaeder described Madison West Elm as “urban-lite.” It’s a half-mile from Fayette Street and has amenities, like a 24/7 concierge desk, that might be more common in Center City Philadelphia.
Equus bought the property for about $8 million in 2014, according to Spaeder, and originally had plans for a 340,000-square-foot office building.
“For all the reasons it’s a great site for multifamily, it was a great site for office,” he said.
Spaeder has confidence in Madison West Elm because of its combination of location and amenities. The 12th floor features a community room and a speakeasy, and the rooftop deck is planned to have an outdoor television. Outdoor space includes a pool with a lap lane, fire pits and grills. The building also has a fitness center and a golf simulator.
The development has about 275 garage parking spaces and 500 spaces total.
Monthly rents start at $1,919 for studios, $2,495 for one-bedroom apartments and $3,499 for two-bedrooms. The building is mostly made up of studios and one-bedrooms and 40% of the units have a balcony.
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Article behind paywall here:
https://www.bizjournals.com/philadel...-west-elm.html
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