EXETER TWP., Pa. – The developer of the former Promenade property in Exeter Township shared more about a proposed residential apartment community planned for the site.
John Rathfon, assistant vice president of land development at Metropolitan Development Group, provided what he described as an informal presentation to township supervisors Monday night to receive feedback from them and the public before the developer moves forward with the full engineering phase of the project.
Rathfon said the complex at 3925 Perkiomen Ave. will feature more than 230 apartments, similar to MDG’s plan for housing at the end of Shelbourne Road with three-story, garden-style apartments.
The Promenade property will include two 16-unit buildings, one 20-unit building and five 36-unit buildings. The apartments will offer one or two bedrooms only. The complex will also feature a range of amenities including a club house, a pool, pickleball courts, private garages and storage units.
One-bedroom units would range in size from 875 square feet to 1,036 square feet, Rathfon said, while two-bedroom units would be 1,175 square feet to 1,350 square feet.
The former Promenade property in Exeter could be the site of the township’s next big residential development.
Rent is currently projected to range from the high $1,700s to the low $2,000s, although Rathfon said those numbers could change by the time the complex is constructed.
Rathfon said previously said there were challenges in attracting retail to offer a mixed-use development, but the residential plan complements existing retail in the area.
The project will have to go through review of the Pennsylvania Department of Transportation, but Rathfon said the expected residential traffic will be less than the traffic generated from retail use.
Rathfon said the township could expect to collect around $366,000 annually in net real estate taxes when the project is completed. He also said that based on past projects, the apartments would add just 14 school-aged children.
The plan proposes two entrances: one at the signalized entrance at East Neversink Road and the existing entrance to the community.
Rathfon said there would be a “significant buffer” around the existing residential community.
The addition of another entrance from 40th Street also was discussed. Rathfon and the project’s engineer said such an entrance could present a problem because it would be on a steep 12-degree grade. The supervisors’ consensus was that the 40th Street entrance was lower than some other priorities, and it would not be a problem if it were not added to the plans.
Rathfon said he estimates that it would be two years from now before MDG could break ground for site work, as the plans still need to go through several review processes and there are sewer conveyance issues that need to be addressed.
3925 Perkiomen Ave., Exeter Township