Last week, MoreThanTheCurve.com reported that the property at 400 West Elm Street in Conshohocken was getting prepped for construction. An office trailer and signage were placed on the site. The property was approved for a 348 unit apartment community.
Today, MoreThanTheCurve.com received a press release announcing that the development had closed on the first round of financing which would allow construction to begin. We also learned that the apartment community would be named 400 West Elm.
Equus Capital Partners, a national real estate developer and real estate investment manager, and USAA Real Estate have closed on a joint venture and first round of financing, clearing the way for construction to begin on 400 West Elm.
The 348-unit, Class A apartment community is being billed as “Conshohocken’s first ultra-luxury residential offering, with unparalleled views, high-end finishes, coveted location, and top-notch amenities.”
“Conshohocken is in the beginning stages of a virtuous cycle of growth. With nearly $1 billion of recent investment and development activity, this urban node will now boast the highest-end residential and commercial projects in the region. 400 West Elm capitalizes on this groundswell of activity and resets the standard for ultra-luxury living in the Greater Philadelphia Area,” said George Haines, senior vice president of acquisitions and development, Equus Capital Partners. “We are thrilled to join with USAA Real Estate again and move forward with a development that will redefine luxury in our marketplace and expand Conshohocken’s vibrant live-work-play atmosphere.”
A few specifics about 400 West Elm:
- The property is 10 acres,
- The building will be 12-stories
- Amentities will include
- State of the art fitness center
- Spacious courtyard with outdoor kitchens
- Resort style pool with lap lanes
- A 12th-story entertainment lounge, and a rooftop deck with 360-degree views of Conshohocken and its surroundings.
- In-building flexible office suites, a conference room, and private work rooms for concentration and privacy.
- Then the everyday amenities like a concierge, maintenance-free living, package delivery, bike storage, pet grooming services, dry-cleaning services, etc
“High end amenities and service are at the heart of 400 West Elm,” said Joe Mullen, president of Madison Apartment Group. “With sweeping views, a multi-level amenity experience and concierge-level services, 400 West Elm Street elevates suburban living in ways that are completely unique in our marketplace.”
400 West Elm will offer studio, one- and two-bedroom apartments both with and without dens, 9’ ceilings, luxury finishes, balconies, in-unit washer and dryers, and generous walk-in closets. A standalone, covered, two-story parking garage will also be available for residents.
There are already two apartment communities under construction above the Matsonford Bridge in Conshohocken. Closest to the bridge is the 304 unit The Birch at 51 Washington. Just upriver and adjacent to The Birch, is the 276 unit Mattison Mill community. Both of these will be between the railroad tracks and the Schuylkill River. Mattison Mill is expected to be completed in June of 2022. The Birch is expected to be completed in the fall of 2022.
Construction of 400 West Elm is projected to be completed in the in fall of 2023.