Over One Million Square Feet of New Office Space Approved/Proposed in Conshohocken

There is currently just over one million square feet of office space approved to be built or seeking approval in Conshohocken (one project is in Whitemash with a Conshohocken address). The projects are:

Two notes, we did not include the Verizon Building with this, because it was somewhat recently used as an office building, so its not really new space. It should also be noted that the 200,000 square foot office building from Keystone is proposed to replace an existing smaller building (just under 40,000 square feet). So the net new office square footage for the Keystone building is 160,000 square feet.

As of right now, the only developer that has publicly stated that its building has a tenant is O’Neill Properties. While O’Neill hasn’t publicly acknowledged who the tenant will be, it is speculated that it is AmerisourceBergen due to this article in the Philadelphia Business Journal.

We also want to point out that the 300,000 square foot office building proposed for West Elm and Corson Street is the same space that was previously approved for an apartment community. We had heard the developer was having second thoughts about apartments and the new concept for the property is on the agenda for the Zoning Hearing Board on Monday, June 2nd.  The meeting is at 7:00 p.m. at Old Borough Hall at West 8th and Fayette.

If the office building concept is approved at West Elm and Corson Streets this will reduce the number of apartments being developed in Conshohocken. O’Neill Properties also had originally slated the land for the corporate headquarters for apartments. So if both office projects move forward the under construction, approved or proposed apartment numbers would be:

  • 385 apartments (under construction) called the Courts at Spring Mill Station at East Hector and North Lane (Home Properties)
  • 310 apartments (approved) at 51 Washington Street (O’Neill Properties)
  • 600+ apartments (proposed) at 401/403 Washington Street (O’Neill Properties)

That brings the total number of apartments potentially being developed to approximately 1,400, which was projected to top 2,000.  So there appears to be some rethinking of what type of projects are most viable in Conshohocken. But the big question is whether enough companies want to move or expand in Conshohocken to justify one million square feet of office space and if the infrastructure can handle the corresponding traffic, etc.