Developers recently provided Norristown officials with a conceptualized vision of what a mixed-use development project would look like at a former Rite Aid property located between Main and Lafayette streets. The property, which is still in a conceptual phase, is expected to include 140 affordable residential units and a 6,100-square-foot commercial space on the first floor. Developers are aiming to attract “upwardly mobile single professionals” to live in a mixture of “borrowed light,” one-bedroom and two-bedroom apartments, with rents expected at a “blended $1,900 per month.” Property owner James Anderson said more density and smaller units are the trade-offs for providing less expensive housing. Read more here.
Source: Times Herald; 10/30/2023