Who says luxury can’t live in a small space? Seizing on a trend of downsizing Baby Boomers accustomed to the finer things in life and aspiring millennials with lofty expectations, renowned Chester County builder Bentley Homes is planning to put its signature luxury touch of “custom features and distinctive finishing touches” on a new 320-apartment development alongside Heuser Park overlooking the Schuylkill River in King of Prussia.
“It’s an opportunity,” CEO Tom Bentley said in a Philadelphia Business Journal report this week. “We still have a very viable business with our million-plus market, but I don’t think millennials coming up want 5,000-square-foot homes, and there are a lot of Empty Nesters looking to downsize. Philadelphia is also underserved when it comes to apartments.”
With the help of Cornerstone Communities of Villanova, the $60 million project on 20 acres is a first chance for “dense, mixed-use development in the King of Prussia Business Park,” the article stated, and will necessitate the demolition of a 290,000-square-foot former intelligence research building to make way for the complex of four apartments “around a large green courtyard that will have outdoor landscaped ‘rooms’ for residents to hang out as well as a pool. About 15,000 square feet will be dedicated to amenities, and a portion of that will include a cafe that will be open to the public.”
Read more about Bentley’s groundbreaking move into building apartments, which is set to close next month, in the Philadelphia Business Journal here.
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Top Photo From Bentley.Wordpress
