NEWTOWN SQUARE, PA — GMH Communities announced it recently broke ground on The Caswell at Runnymeade, a 249-unit multifamily community in Newtown Square, Pennsylvania. Located just 15 miles from Philadelphia in Edgmont Township, Delaware County, The Caswell at Runnymeade will consist of two, four-story buildings with underground parking. The development is a joint venture partnership with AEW Capital Management, L.P. and is slated to open spring 2023, with preleasing to begin winter 2022.
The Caswell at Runnymeade will sit just east of Ridley State Park, minutes away from Route 3 (West Chester Turnpike), Route 1, and Interstate 476, providing easy access to Philadelphia and major surrounding cities including West Chester, King of Prussia, and Media. Conveniently down the road in popular Newtown Square, nearby stores and restaurants include Whole Foods Market, ACME Markets, Rite Aid, Michaels, Wawa, Starbucks, First Watch, and more.
“At GMH, we seized the opportunity to continue to grow our residential living portfolio and develop one of the area’s premier apartment communities in our own backyard,” says Gary Holloway, Jr, President and CEO of GMH Communities. “With top-notch amenities and ample outdoor space for socializing and relaxation, The Caswell at Runnymeade will provide a beautiful home for young professionals, families, and empty-nesters seeking a large apartment close to Philadelphia and its surrounding suburbs.”
The Caswell at Runnymeade will offer a variety of floor plans to cater to an array of lifestyles from one- to three-bedroom options ranging from 805 to 1,623 square feet. Apartments will contain spacious bathrooms, stainless steel appliances, and modern finishes and smart tech features throughout. Additional in-unit features/design includes walk-in closets, energy-efficient appliances, designer showers, balconies or terraces, and more.
“There is strong demand for highly amenitized rental apartment communities that emphasize outdoor activities and healthy living. We are excited to partner with GMH to create an inspiring space that will enhance residents’ experience,” said Michael Byrne, AEW Chief Investment Officer and Head of Private Real Estate and Debt.
Community amenities at The Caswell at Runnymede will include a state-of-the-art fitness center, motion studio, golf simulator, movie theater, arcade, clubrooms, private conference rooms, coworking spaces, and a lounge area. Residents will also be able to enjoy the outdoor amenities The Caswell at Runnymeade has to offer such as a courtyard with a pool, hot tub, outdoor theater, yoga area, kitchen, barbecuing area, multiple fire pits, and lounge seating.
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