12A — September 28 - October 11, 2012 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O WNERS , D EVELOPERS & M ANAGERS 398 residential units in Plymouth Meeting, PA Brandywine and Toll Bros. announce joint venture P shopping, dining, healthcare, lifestyle, and transportation needs are located within one to three miles of the site. LYMOUTH MEET- ING, PA — Brandy- wine Realty Trust
GENERAL CONSTRUCTION
Commercial • Industrial • Residential
will incorporate many sustain- ability features including rain gardens, white roofs, electric car chargers, drought-toler- ant landscaping, water saving fixtures and energy efficient design. The property is in an excel- lent location with immediate access to the mid-county in- terchange, the region’s major highways and is just over 16 miles from Center City Phila- delphia. Area demographics are outstanding and the proj- ect is located near suburban Philadelphia’s largest em- ployment base. All essential
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and Toll Brothers, Inc . announced that they have formed a joint venture to build 398 residential units in seven buildings at 134 Plymouth Road. The project will feature a mix of one and two bedroom luxury rental residences lo- cated on a 20-acre site that will have 45% open space. The project will have a first-class amenity package including a 10,000 s/f club house, fitness center, resort-style pool, dog park and walking trail, and
Toll Brothers and Brandy- wine will each own a 50% in- terest in the Plymouth Meet- ing complex, and will have joint decision making respon- sibility. Brandywine and Toll Brothers have joint develop- ment responsibilities with Toll Brothers providing property management and construction management services. Bran- dywine will contribute its land parcel in connection with the venture and Toll Brothers will contribute cash. Total project costs inclusive of land are estimated to be $77.0 million. Site engineering, planning, and architecture have begun and the groundbreaking is projected to occur in the first half of 2013. “Brandywine is one of the most respected names in the real estate community and we look forward to developing this project with them,” stated Douglas Yearley, Jr., CEO of Toll Brothers. “We are pleased to bring to this partnership our residential experience and the Toll Brothers luxury brand. We are very excited by this opportunity.” “We are delighted to com- mence this transaction with Toll Brothers,” said Gerard Sweeney, president and CEO of Brandywine Realty Trust. ■ Schlouch to prepare site for Aldi store B L A N D O N , PA — Schlouch Incorporated has been named by Speed- well Construction, Inc. to prepare a 3.4-acre site for an Aldi grocery store. The site is located at 190 West Lincoln Highway, West Whiteland Township. Schlouch is providing clear- ing, grubbing, survey, stake- out, demolition, earthwork, sanitary and storm sewers, water line installation, sedi- ment/erosion control, roads, building pad, concrete, curbs and paving. J e r emy Ke e n e r i s Schlouch’s site coordinator and Michael Laudermilch is project coordinator/estima- tor. Work will be completed by December 2012. ■
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