The project involves constructing 85 new “cottage” homes
on a part of its campus near Susquehanna and Rydal roads, as well as building a
clubhouse with a fitness center, a multipurpose room with a fireplace and a
cocktail lounge. Plans also involve enhancing an outdoor area with a heated
swimming pool, fire pit and spots to grill. Called Rydal Waters, it was
designed by Stewart and Conners Architects.
An estimate for developing the cottage homes and
clubhouse came in between $45 million and $50 million, but the project’s total
cost is expected to be $75 million. Construction will begin once 70 percent of
the residences are pre-sold.
“Rydal Waters is the result of market surveys and
listening to prospective residents in the area — bringing them the type of
housing they’re seeking,” said Judee M. Bavaria, president and CEO of Presby’s
Inspired Life, in a statement.
Source: Philadelphia
Business Journal
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