Philadelphia real estate company MM Partners is planning a $31M apartment and commercial space on Main and DeKalb Streets, writes Natalie Kostelni for the Philadelphia Business Journal.
MM is best known for the development of Brewerytown in Philadelphia, and they are planning on using many of the design elements from there in the new Norristown space.
The building is planning to have seven stories with over 110 apartments and approximately 12,000 sq. ft. of commercial space.
“What’s intriguing about Norristown is its location,” said David Waxman, co-founder and managing partner at MM.
“It’s well served by transportation, the courthouse is being redone with a massive park and you have a history there,” he says.
This past summer, the County began work on the upcoming $415 million Justice Center that is in the works and part of the efforts to revitalize Norristown.
“There is stuff happening there,” Waxman said. “Like Brewerytown, it’s perception versus reality and you have pieces there that Brewerytown didn’t have.”
The partners and the designers of the project LRK Inc. are aiming to break ground in 2023.
Read more about the proposed project in Norristown at the Philadelphia Business Journal.