Morning Headlines: Keswick Village Sells for $6.2 Million, Sprucing Up to Follow
Franklin Residential has purchased Keswick Village in Glenside, reports Natalie Kostelni at the Philadelphia Business Journal. The historic mixed-use property, she writes, was designed by Horace Trumbauer and consists of the following Tudor-style structures:
• A pad with a Susquehanna bank
• A two-story, 18,000-square-foot building with six retail stores and 11 apartments.
• A three-story, 38,000-square-foot building that has seven stores and 15 apartments. Those structures will be rebranded as Keswick Commons.
According to Kostelni, Franklin Residential will “spend nearly $2 million to renovate the interiors and exteriors of the existing retail and residential spaces,” followed by a new housing construction:
The second phase involves constructing 65 to 80 age-restricted apartments on top of two to three stories of parking. That estimated $14 million project still needs to go through the local approval process and likely won’t get underway for a couple of years.
• Keswick Village sells for $6.2M, gets new owner [Business Journal]
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