Trammell Crow Co. is moving forward with a $100 million residential component to its Atwater Corporate Center.
The company is expecting to break ground within a year development that will include 350 apartments and an undetermined amount of retail space. Future phases will include additional housing, such as single-family and townhouses, and a full-service hotel. In all, Trammell Crow can constructed up to 935 housing units.
This is a change from the developer’s initial plans for the corporate center, which sits off Route 29 and at the new Pennsylvania Turnpike interchange in Malvern, Pa.
Atwater was originally approved in 1999 for 2.6 million square feet of office space. Trammell Crow returned to East Whiteland in the fall of 2011 to get a zoning overlay placed on 110 acres of the nearly 400-acre property. The new zoning gave the developer the ability to construct 8.5 residential units on those 110 acres.
The addition of residential to what was originally envisioned as an office park is a reflection of the way commercial developments have evolved over the years. Plans today would typically not focus on a single use. Even though Endo Pharmaceuticals has its headquarters in Atwater and Allstate Insurance is a tenant in another building, companies want to be able to provide employees with restaurants, dry cleaners and other services and even a place nearby to live as an option.
“Good plans today would drive a mixed-use project,” said Jeff Goggins, senior managing director at Trammell Crow. “Tenants want amenities, activities and great transportation options.”
The 110 acres that Trammell Crow has carved out for the residential and retail uses had at one point been targeted for Shire’s new corporate campus. When the pharmaceutical decided earlier this year not to move forward with relocating to Atwater, the developer decided to forge ahead with its new residential-retail plans of which part also entails extending a trail in Atwater to other nearby parks.
That part of Malvern near the new turnpike interchange is expected to see more construction activity over the next few years.
E. Kahn Development is seeking to move forward with $50 million in projects in that area including a 128-room Marriott Residence Inn at the corner of Route 29 and General Warren Boulevard. In addition, E. Kahn will construct 25,000 square feet of retail space. Around the corner, the developer plans to break ground on a residential project.
At the other end of Route 29 near its intersection with Route 202 and Route 30, O’Neill Properties Group is constructing an apartment complex that is part of its Uptown Worthington project, which has Wegman’s and Target.
Goggins believes that there’s “plenty of demand” for Trammell Crow’s residential and retail projects in spite of all of the other construction either underway or soon to be underway.
Source: Philadelphia Business Journal
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