Oct 26, 2017
Equus Capital Partners Announces Land Purchase for New Apartment Development
Equus Capital Partners, Ltd. (Equus), one of the nation’s leading private equity fund managers, announced the acquisition of a 6.7 acre transit-oriented development site adjacent to SEPTA’s Lansdale Train Station in Montgomery County, PA. Equus intends to immediately commence construction of Madison Lansdale Station, a 181-unit luxury apartment community in the center of downtown Lansdale. The development will also include approximately 15,500 square feet of ground level retail.
The first apartment units and retail spaces will be available for occupancy in fall of 2018 and future residents will be able to begin reserving units in the spring of 2018.
Equus acquired the site from the Lansdale Parking Authority which no longer had need of the parking lot due to the recent completion of a SEPTA-built parking garage with 680 parking spaces. Providing convenient access to downtown Philadelphia, the Lansdale Train Station serves thousands of commuters per day and is the most frequently used station along SEPTA’s popular Lansdale/Doylestown line.
“We’re looking forward to contributing to all the exciting new development that has recently occurred in Lansdale,” commented George Haines, Vice President of Equus who oversaw the acquisition of the site. “Our thoughtfully designed residences and central location will appeal to those who value quality and convenience in a walkable and historic downtown setting.”
Designed by Philadelphia based Wulff Architects, the 181 residential units will be located throughout one five-story elevator served building and six three-story garden style buildings. The community will offer 1 and 2 bedroom apartment homes across 14 distinct floorplans, as well as a full set of amenities including an outdoor pool, fitness center, indoor and outdoor resident lounge areas, indoor dog wash, and a package delivery center. The contemporary unit finishes will include quartz countertops, stainless steel appliances, 9’ ceiling heights and in-unit washers and dryers.
The project’s construction will be managed by DeLuca Select, LP who has served as the general contractor on prior Equus multi-family development projects. Equus’ affiliate, Madison Apartment Group, Ltd., will serve as property manager.