WILMINGTON – Capano Residential, the private, vertically integrated real estate developer, has entered the Pennsylvania market for the first time through a partnership with Eland Downe Townhomes and the development of the Reserve On Forge and The Reserve At Steelpointe apartments, all located in Phoenixville, Pa.
Set on 50 acres, Eland Downe offers two- and three-bedroom townhomes complemented by an indoor swimming pool and fitness center. The nearby 108-unit Reserve On Forge is set to open in 2022, featuring open floor plans, upgraded finishes and fixtures, entertainment kitchens with an island, stainless steel appliances, quartz countertops and wood plank floor throughout. Lastly, The Reserve At Steelpointe proposes 240 units featuring a 10,000-square-foot amenity space, multimedia club room, library, conservatory with views of the French Creek, pool with sundeck and fitness club.
All three communities are located within 2 miles of downtown Phoenixville shopping and restaurants, and minutes from King of Prussia, Pa.
“We partnered with Phoenixville in the interest of replicating the trendsetting residences we have developed in Delaware and Florida as well as satisfying what we believe to be a specific need in the market, said Louis Capano Ill, the owner and operator of the namesake family firm. “The Phoenixville area provides us with a unique opportunity for a suburban feel with urban walkability that tailors directly to the preferred lifestyle of our target demographic.”
Capano Residential is headquartered in Wilmington and has a portfolio encompassing more than 6,000 apartment units with more than 2,000 also in development. Among its managed communities are Cavaliers Country Club Apartments in Christiana, The Falls near Wilmington, The Reserve at Westown in Middletown, Fairway Village in Ocean View, and more.
*This article is written by Jacob Owens and reposted from the Delaware Business Times