Friday, June 24, 2016

Petrucci Gets Warminster, PA, Luxury MF Development Underway

by Steve Lubetkin, Globest.com
J.G. Petrucci Company has begun construction of Jacksonville Station, a 151-unit luxury multifamily apartment complex in Warminster, PA.

“J.G. Petrucci has made a $75 million investment since 2009, and we are very thankful for the time, faith and effort they have put into Warminster,” says Mark McKee, Warminster Township chairman. “We look forward to continuing this relationship as they embark on Jacksonville Station.”

Expected to open in Spring of 2017, Jacksonville Station will feature 151 one- and two-bedroom luxury apartment units, complete with modern amenities including stainless steel kitchen appliances, Quartz countertops, and full-size washers and dryers in each unit. Situated on a 10-acre land parcel directly across from the Warminster train station, the new multi-family complex will also feature on-site surface parking, a state-of-the-art fitness center, swimming pool, and a clubhouse.

Working closely with Township officials, J.G. Petrucci also has begun a $2 million road and parking improvement program in the area surrounding Jacksonville Station and the Station at Bucks County, a 257-unit multi-family complex also developed by Petrucci in 2012. The improvements include a new traffic signal, and the addition of a new, second roadway leading into the Warminster train station. In addition, Petrucci is creating 30 surface parking spaces within the existing train station parking lot, for use by Warminster Regional Line commuters.

“We are excited to begin our second multi-family development in Warminster and are very appreciative of the support we have received from the township officials and the local community—it has been a great pleasure to work with the entire team,” says Greg Rogerson, principal of J.G. Petrucci Company. “Warminster is viewed as an ideal location to live, work and play, and we are pleased to be creating another quality living option for its current and future residents.”
Designed by award-winning architects, Minno & Wasko, the eight-building multi-family development will feature 74 one-bedroom, and 77 two-bedroom apartments that are in close proximity to many retail shops, restaurants and public parks. Center City Philadelphia is a 50-minute train ride from Jacksonville Station, and nearby transportation routes include Routes 132, 332 and 263, as well as the Pennsylvania Turnpike. Jacksonville Station is situated within the Centennial School District.

Over the past two years, J.G. Petrucci has been increasing its presence in Warminster, with the acquisition of several retail, office and industrial facilities within a two-mile radius of Jacksonville Station. These properties include a 110,000-square-foot industrial building occupied by IWCO Direct, a 21,000-square-foot fully furnished office building, a 14,000-square-foot Walgreens retail store, and the Warminster Square and Jacksonville Plaza retail centers, where J.G. Petrucci has made significant improvements since the acquisition.
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