Conshohocken Apartment Complex to Break Ground Early Next Year
According to Natalie Kostelni at the Philadelphia Business Journal, Mack-Cali Realty Corp. is aiming for an early 2015 groundbreaking for its newly acquired parcel in Conshohocken.
Kostelni says Mack-Cali bought the riverfront property from O’Neill Property Group and already has the 3-plus-acre site at 51 Washington St. approved for 310 apartments. Here’s more from PBJ:
Mack-Cali’s affiliate, Roseland, intends to begin construction of a multifamily complex on the site during the first quarter of next year, said Ilene Jablonski, a company spokeswoman. Jablonski declined to disclose the purchase price until the company does so throughSecurities and Exchange Commissionfilings. The Edison, N.J., company bought the site because it fits within its strategy to take positions in markets that have high barriers of entry and are served by mass transit.
• Conshohocken parcel spanning 3.1 acres sold by O’Neill Properties [Philadelphia Business Journal]