O’Neill Properties Group has lined up a financing partner
and plans to break ground in the next couple of weeks on an apartment complex
on an old quarry off Rock Hill Road in Bala Cynwyd, Pa.
The $60 million project will consist of four buildings with
330 apartments. It is expected to be completed in 18 months.
O’Neill Properties, a King of Prussia, Pa., developer,
bought the six-acre former quarry in 2004 for $3.5 million. Located at 132 Rock
Hill Road, the property completes a 12.4-acre site that O’Neill assembled by
acquiring two other adjacent quarries. Rock Hill Quarry & Supply provided
stone that went into houses along the Main Line and in the Manayunk section of
Philadelphia from the 1920s until 1966.
O’Neill’s plans were approved in 2008 but the recession put
a hold on the developer’s desire to move forward.
Source: Philadelphia
Business Journal
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