A second buyer of land at Malvern’s Atwater Corporate Center has stepped forward with plans for new residential construction. A chain of property transactions has resulted in a 13-acre plot sold for $12.5 million to Johnson Development for the new 300-unit Haven at Atwater apartments, according to a Philadelphia Business Journal report.
Johnson Development bought from Reiser Land Development, which paid $35.5 million to Trammell Crow Co. for 150 acres there. Previously, NV Homes signed a contract to build new single-family homes and townhouses on 122 acres at Atwater, which is situated at the intersection of Route 29 and the Pennsylvania Turnpike.
Trammell Crow also has 555,000 square feet available for new office construction.
“What is exciting for us is this mixed-use component is something we have been working on for the last four years, and it made the office portion of the development even more attractive and valuable,” Trammell Crow Senior Managing Director Jeff Goggins said in the article. “It’s live, work, play, and we think it only enhances that office corridor.”
Read more about the latest transaction and other developments at Atwater Corporate Center in the Philadelphia Business Journal here.