Developer’s Agreement For $200 Million Plan Adopted In Conshohocken

Map of Pennsylvania highlighting Montgomery County

Map of Pennsylvania highlighting Montgomery County (Photo credit: Wikipedia)

CONSHOHOCKEN, PA — A developer’s agreement with  Keystone Property Group (KPG) of Lower Merion to build a hotel, an office tower and a parking garage on Fayette Street and a new borough building for police and borough workers was unanimously approved Wednesday by Borough Council.

The $200 million KPG plan was selected by council in mid-September over a competing proposal by Brandywine Realty Trust (BRT) of Radnor.

The 32-page agreement will be ratified Friday by the Montgomery County Redevelopment Authority.

KPG agreed to build an 18-story, 200-room hotel at the intersection of Fayette and Elm streets, an eight-story parking garage to replace an existing three-story garage and a new, 16-story, 200,000-square-foot office building at the intersection of First Avenue and Fayette Street.

Read more: http://www.timesherald.com/general-news/20131218/developers-agreement-for-200-million-plan-adopted-in-conshohocken