Proposed Bala Cynwyd apartment project moves ahead

On the seven-acre parcel that is 150 Monument Road in Bala Cynwyd today, there is a six-story office building, surrounded by a veritable sea of parking lot pretty typical of the pattern of development in Lower Merion Townships prime commercial corridor over the past several decades.

That office-park environment would have a new look more in keeping with the townships vision for the area, however, under a redevelopment plan starting its way through the approval process.

Keystone Property Groups tentative sketch plan for a new six-story, 207-unit apartment building on a part of the property took its first step forward Monday night.

With a number of questions it wants to see answered at the next stage, the Lower Merion Planning Commission voted 5-0 to recommend approval of the sketch plan. Co-Chairman Alan Ritterband, who was present for the meeting, recused himself in the vote. His co-chairman, Charles Howland, was absent.

The plan moves forward for review by the Building and Planning Committee of the board of commissioners Wednesday night.

In addition to the new residential building the second apartment project to come forward since rezoning of the City Avenue district in 2012 the plan calls for renovation of the office buildings exterior and construction of a four-story, 272-space parking garage to partially replace surface parking.

A commercial space of about 4,000 square feet, intended for a restaurant tenant, will front the parking structure on Monument Road.

The apartment building will contain another 207 parking spaces for residents, part of a total on site of 673.

In a presentation to the commission, attorney Carl Primavera, representing Keystone Properties, said the company acquired the property from previous owner Mack-Cali as that company opted to sell some of its suburban office portfolio to enter into the residential market. An association with Mack-Cali will continue, as a subsidiary, Roseland Property, develops the new multi-family building.

The projects architect said the apartment mix will be 60-percent one-bedroom units, with the remainder two-bedroom and a small number three-bedroom. Asked what tenant market it will be geared to, Keystone Senior Vice President Richard Gottlieb said the apartments would be at the upper end of the price scale. Continued...

Original post:
Proposed Bala Cynwyd apartment project moves ahead