Far from the maddening crowd of the King of Prussia Mall and Village of Valley Forge, Park Square offers a gentler way of life for those seeking the quieter life in Upper Merion Township.
The closest restaurant or Starbucks isn’t within walking distance. A grocery store is even farther. You definitely need your car if you live at Park Square and the developers know that, hence the detached garages offered for a price to renters.
While the distance from certain conveniences may be a detraction for some potential renters, it’s being embraced by the renter who prefers to have what Park Square offers: large units, more open space and lots of amenities. Park Square has 10,000 square feet — the size of a small building — of indoor amenity space and an entire acre of outdoor amenities including a pool, grills, dining areas and fire pit. It’s reminiscent of a resort in some far off vacation spot, ways from King of Prussia. That’s the whole idea, writes Natalie Kostelni in the Philadelphia Business Journal.
Built in partnership with Villanova-based apartment developer CornerstoneTracy and Bentley Homes, Park Square opened six months ago and is more than half leased.
“We thought we would have been a third leased by this point,” said David Della Porta of CornerstoneTracy. “We’re way ahead of pro forma.”
The idea of creating an environment in a multifamily development that is much like a hotel — from the lobby to the amenities — was deliberate. Larger units and more open space was a gamble the developers took knowing much of the competition sat in a more urban setting at the Village at Valley Forge. They figured there’s a segment of renter including empty-nesters, families and others who prefer this type of setting on 20 acres with walking trails and a dog spa. A three-bedroom unit is 1,500 square feet, a one-bedroom is 850 square feet and a studio at 600 square feet. Rents range between $1,400 and $3,000.
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