Berwyn-based developer LCOR will soon unveil its latest project, Arlo, a two-building apartment complex in Malvern, writes Fran Maye for the Daily Local News.
With this project, LCOR is cashing in on the growing trend of millennials choosing to rent an apartment instead of owning a home.
“Time is a precious asset, and more and more, we are seeing that younger professionals and empty-nesters don’t want to deal with the time and energy it takes to care for a house and yard,” said LCOR Senior Vice President Pete DiLullo.
The new apartment complex will consist of two four-story buildings with 244 units and a clubhouse with a fitness center and screening room, among other amenities.
The rent will not be on the low side either, with prices starting at $1,400 per month for a 439-square-foot, one-bedroom studio apartment and going as high as $3,140 per month for a three-bedroom, two-bath unit covering 1,416 square feet.
In return, the renters will receive a fully amenitized community “with all the bells and whistles, without the added responsibility of installing or maintaining these features themselves,” said DiLullo.
Read more about Arlo in the Daily Local News here.