Thursday, June 25, 2020

LCOR Breaks Ground on Transit-Oriented Apartment Complex Near Philadelphia

LCOR, a full service investment, management and development firm, broke ground on 51 Washington Street, a 304-unit apartment complex in Conshohocken, Pennsylvania, located approximately 15 miles from Philadelphia’s Center City district.

Slated to be completed in early fall 2022, the transit-oriented development is steps away from Conshohocken’s new regional Southeastern Pennsylvania Transportation Authority (SEPTA) station.

Plans for the development include a mix of studio, one- and two-bedroom floor plan configurations, and 17,000 square feet of amenity and management space, including an outdoor pool and interior courtyard. The seven-story project adjacent to the Schuylkill River Trail will feature a two-level garage offering approximately 366 parking spaces.

The project marks LCOR’s fourth development in the area, adding to Arlo in Malvern, 1919 Market Street in Philadelphia and Heathergate at Oxford Valley in Langhorne.

“Upon completion, 51 Washington Street will present this community with an exceptional and unique living experience,” Peter DiLullo, senior vice president and principal of LCOR, said in a statement. “We’re excited to work in close partnership with the Borough of Conshohocken and SEPTA to improve access the new transit station and waterfront.”

Amenity highlights include various entertainment areas such as a golf simulator, clubroom, formal lounge and covered outdoor space overlooking a swimming pool with waterfall edge and sun shelf, according to a press release. Additional amenities include a sizeable fitness center, along with break-out pods ideal for working from home.

Over its 40-year history, the Bethesda, Maryland-based development firm has applied its comprehensive expertise and fully integrated investment management and development strategy to more than 300 large-scale mixed-use projects, according to its website.

Niles Bolton Associates serves as the project's architect, and the construction manager is CBG Building Company. Construction financing was provided by Webster Bank.
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