KENNETT TOWNSHIP—Ground was broken Wednesday for a four-story, 175-unit luxury apartment complex on a 14.4-acre tract on Millers Hill Road, very close to the Kennett Area YMCA.
“This is a form of smart growth and it preserves the area’s natural beauty,” said Brad Mowbray, senior vice president and managing director of High Real Estate Group LLC, developer of the project. “By growing up instead of out, it reduces the environmental impact.”
The apartment complex is within easy walking distance of Kennett Square’s many festivals, including Midnight on the Square, the Mushroom Festival, the Kennett Run, the art strolls, the Farmers Market, Third Thursday Dining on State Street and many more. There will also be a walking and biking trail that will connect the apartment complex to the 108-acre Anson B. Nixon Park.
The complex will have 23 underground parking spaces, electric car charging stations, nearby footpaths, and recreational open space.
Completion of the project is expected sometime next year.
“The Flats at Kennett is designed for millennials, baby boomers, and others who want flexibility, lifestyle, and convenience,” said Mowbray. “This is an outstanding project that addresses the increasing multi-family demand in the Chester County market.”
With elevators and secure access, The Flats at Kennett will offer studio, one-, two, and three-bedroom units.
Pricing is not available. However, at the Reserve at Greenfield in Lancaster County, a High Real Estate apartment complex similar to the Flats at Kennett, a one bedroom bath apartment with 716 square feet rents for $1,175 per month. A 2-bedroom, 2-bath unit with 988 square feet rents for $1,335. A 3-bedroom, 2-bath unit with 1,356 square feet of space rents for $2055 per month. There is a $25 monthly cat fee and a $25 monthly dog fee.
The apartment complex will feature the finest in luxurious living.
“There will be quartz countertops, stainless steel appliances, a fitness center with state-of-the art equipment, under-cabinet lighting, an outdoor pool and fire pit with conversation area, a yoga studio, a pet spa and a bike storage facility,” Mowbray said.
“Multi-family is a growth vehicle for High’s real estate portfolio,” said Mark Fitzgerald, president and COO of High Real Estate Group LLC. “We are developing and acquiring residential properties across multiple rental price points and geographies, here in Pennsylvania and beyond.” He noted that industry groups National Multifamily Housing Council and National Apartment Association project the need for 4.5 million new apartment units in the U.S. by 2020.
Richard Leff, vice chair of Kennett Township supervisors, said the apartments will be an asset to Kennett Township. Tax base will increase when it is completed.
“We are happy to see groundbreaking,” Leff said. “We have been working very closely with the borough in which this project abuts to make sure Kennett is the best place to raise a family. The Flats will provide beautiful, comfortable apartments for young singles, new families, and even older folks looking to downsize and remain in the Kennett area.”
The Flats at Kennett was designed by Greenfield Architects Ltd. of Lancaster, Pa., and will be constructed by High Construction Company, also of Lancaster. The company owns and operates more than 2,800 residential units