West Conshohocken-based Keystone, a vertically integrated commercial real estate development and investment company, recently secured $42 million in financing from Arbor Realty Trust for a 149-unit luxury apartment building in Plymouth Meeting.
“With this financing, we’re one step closer to delivering a design-forward community that prioritizes well-being, social engagement, and convenience,” Rich Gottlieb, Keystone president and COO, said.
The project will repurpose a 175,000-square-foot office building into apartments branded Monarq. The development will feature smart home features, enhanced soundproofing, natural light, on-site parking, outdoor communal spaces, co-working lounges, an indoor pool, a state-of-the-art fitness center, resident social spaces, and a private screening room. Some units will have private balconies.
Residents will have access to I-476 and I-276, dining, retail, entertainment, and Whole Foods.
The first phase of residences will be available for lease in 2026.
Keystone’s portfolio of projects includes 10 million-square-feet of office and mixed-use properties with 2 million-square-feet currently under development. The company has offices in Philadelphia and Miami.
The company’s portfolio includes converting office spaces into amenity-rich residences that meet the growing demand for urban living. It previously converted the Curtis building in Philadelphia into The Lyndon, 86 luxury residences that are now fully leased. A 221-unit project is currently underway in Miami.