Plan Calls For 175 Luxury Apartments In Downtown Kennett Square

KENNETT SQUARE, PA – Borough officials are considering a plan that would bring 175 luxury apartments and a pub restaurant to the western section of town.

Called The Lofts, it will be located very close to Victory Brewing Co. on Cypress Street that will open sometime this month. Specifically it will be bordered by State Street to the north, Washington Street to the east, South Mill to the west, and Bernard Alley to the south.

Developer, StanAb Real Estate Development Co. of West Chester, purchased the entire 600 block of State Street recently, which had been the site of Kennett Motors and Kennett Transmissions.

“Except for Magnolia Place, there are few other choices (for rental housing),” said Tony Stancato, an executive with StanAb. “The lure of Kennett Square is that is has walkable amenities, and there are many businesses wanting to come to Kennett. Demand for rental has been increasing with those ages 20 to 34 holding off buying decisions for many reasons. Kennett Square is an underserved marking for rental housing.”

Read more:

http://www.dailylocal.com/general-news/20150412/plan-calls-for-175-luxury-apartments-in-downtown-kennett-square

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