Finance of America to close Conshohocken office and will lay off 101 employees

The Philadelphia Business Journal reported on October 28th that Finance of America Holdings has decided to end its residential mortgage business and will close its Conshohocken office at 1 West Elm Street. The move will result in 101 employees being laid off.

The company relocated to Conshohocken from Horsham in June of 2021 and is the first corporate sign at the top of a building that you see on the left as you drive over the bridge from West Conshohocken (pictured above).

On, the 1 West Elm Streed building is shown to be 97,737 square feet with 50,632 square feet of Class A office space currently available. According to a tweet from the company that did the fit out of the space, Finance of America occupied 60,000 square feet within the building (the discrepancy in square footage is likely due to the inclusion of shared space that was renovated such as the lobby). As you can see in the video below the renovations to the building prior to Finance of America moving in were extensive.

Photo: Google