Buccini Pollin Group is planning to build a $50 million, five-story mixed-use development near Conshohocken transit hub, adding apartments and retail to the area, writes Ryan Mulligan for the Philadelphia Business Journal.
The proposed development would feature 115 apartments and 5,400 square feet of retail space, replacing part of the parking lot that now serves Buccini Pollin’s Quaker Park office and lab building near Spring Mill SEPTA Station.
Wilmington-based Buccini Pollin bought the nine-acre property for nearly $35 million in 2005. The 202,000-square-foot building is now almost fully occupied, according to Boris Kaplan, senior vice president for development management at Buccini Pollin. The company hopes to secure the approvals and begin construction in the second half of next year.
The property is surrounded by several well-known Conshohocken dining spots, such as the Daisy Tavern and Bar Lucca, and is also near major residential developments, including the 385-unit Courts at Spring Mill Station and the 62-unit River Place Townhomes.
“We’re starting from a position of vibrant, viable office, but have seen an opportunity in what’s happening in Conshohocken, what’s happening in the neighborhood, and what’s happening really around the train station for mixed-use development,” said Kaplan.
Read more about the planned development in the Philadelphia Business Journal.
