Redevelopment of Former Keasbey & Mattison Plant in Ambler Enters Second Phase

By

the crossings
Image via Facebook.
The Crossings Apartments.

The redevelopment of the former Keasbey & Mattison asbestos plant in Ambler is entering the second phase more than two decades after John Zaharchuk of Summit Realty Advisors put the property under agreement, writes Natalie Kostelni for the Philadelphia Business Journal.

“It was such a heavy lift,” said Zaharchuk. “We’re 10 years behind where we want to be.”

The first phase of the project involved spending $16 million to convert the Ambler Boiler House into a 48,000-square-foot office building. That phase was completed nine years ago and the building currently is fully leased with many of its original tenants.

However, the second phase which involves a $24 million apartment complex dubbed the Crossings at Ambler Station ended up being tied up in litigation until recently. Now that the work is underway, the second phase is expected to be completed in August.

The apartment complex will have 114 units ranging from 669 square feet to 1,155 square feet. There will also be 23,000 square feet of landscaped open space.

And while the timing of the apartments was not exactly what the developer anticipated, it might work in its favor after all.

“The market is better,” said Zaharhcuk.

Read more about the redevelopment of the Keasbey & Mattison plant in the Philadelphia Business Journal.

Stay Connected, Stay Informed

Subscribe for great stories in your community!

"*" indicates required fields

Hidden
MT Yes
This field is for validation purposes and should be left unchanged.
Advertisement