Keystone Property Group has master planned an estimated $200
million mixed-use project for Conshohocken, Pa., that aspires to connect
disparate pockets of the borough and serve as a model for transit-oriented
development.
Called One Conshohocken, the development will sit along
Lafayette Street and include a public plaza in the center that will have a
200-room hotel, a 14- to 15-story, 300,000-square-foot office building and a
136-year old firehouse that will be converted into a brewpub surrounding it.
Gensler is the architect.
The plaza area would be on the scale of the skating rink at
Rockefeller Center in New York and have roughly 20,000 to 30,000 square feet of
retail space. It is a key component to One Conshohocken since it is a public
gathering spot for the community as well as Millennials who work and live in
the borough.
Keystone has yet to select a flag for the hotel but it would
target business clientele. The developer would partner with a hospitality
company on it.
Keystone would like to break ground on the plaza, hotel and
conversion of the firehouse next spring. It will move forward with the office
building once an anchor tenant is secured.
“What works so wonderfully for this site and development is
it connects two separate Conshohockens,” said Bill Glazer, president and chief
executive officer of Keystone. “One Conshohocken is a walkable downtown full of
restaurants and has been around forever. The other Conshohocken is down by the
waterfront. Between those two Conshohockens is a void and that void is this
city block and we’re connecting both of them. It’s an exceptional opportunity
to create a 21 st Century development that doesn’t exist in this region.”
One Conshohocken will also include the development of 300
new parking spaces and projected to create upwards of 1,000 new, permanent
jobs. It will take two to three years to complete the entire project.
Source: Philadelphia
Business Journal
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