Multi-Housing News Online reported yesterday that the affordable housing community on Harry Street in Conshohocken, Pleasant Valley Apartments, was recently sold. From its report:
Pleasant Valley, a 41-unit, affordable housing community in the Philadelphia suburb of Conshohocken, Pa., sold for $6.4 million. HFF marketed the property on behalf of PV Associates. The company sold the community free and clear of existing debt to an affordable housing group based on the West Coast.
These apartments, which were constructed starting in 1982, were really the start of the wave of redevelopment that would come to transform Conshohocken. It was the first piece of a 25 acre redevelopment plan that eventually brought The Grande (condos) and office buildings. These 25 acres aren’t actually completely redeveloped. The proposal by Keystone Property Group to build a hotel at the corner of West Elm and Fayette Street is on land that was never developed.
You can read an entire history of the redevelopment here.