On the agenda for the March 27th meeting of SEPTA’s board is the authorization to award and enter into a long-term ground lease and development contract with Alterra Property Group for the joint development of the property located at 101 Washington Street in Conshohocken.
In July 2024, SEPTA issued a request for proposal that sought a developer to redevelop the SEPTA-owned property with apartments and a parking garage.
The property was originally slated solely for a parking garage, a partnership between SEPTA and PennDOT. The garage would have served the adjacent train station and a PennDOT plan to encourage drivers on the Schuylkill Expressway to exit in Conshohocken and continue their journey on the train. The RFP stated that $27 million in the form of a grant [from PennDOT] is available towards the construction of the garage.
The change from just a parking garage to a parking garage/apartments combo resulted from transit activists and The Philadelphia Inquirer’s editorial board advocating for the plan to be rethought due to the cost and the belief that the area surrounding train stations should be dense with housing.
After initial hesitation, Conshohocken’s borough council voted 6-1 to approve a memorandum of understanding (view document) between SEPTA and the Borough of Conshohocken that outlined how SEPTA could proceed with a process to explore adding apartments into the plan with no commitment to amend the zoning code to approve a proposed plan. The council had removed residential uses within the zoning districts along the Schuylkill River (Where 101 Washington Street is located) in 2022, citing public safety concerns and the impact on emergency services.
Alterra Property Group was selected from five developers who responded to the proposal request. The company is based in Philadelphia and has an office in Conshohocken. It has developed many residential and mixed use properties in Philadelphia.
SEPTA is currently working towards creating a surface parking lot on the property while any proposed development project is considered.