Philadelphia-based PRDC Properties and national homebuilder Lennar announced on June 4th plans for River Pointe, a large redevelopment of 35-acres on the riverfront in Bridgeport. The master plan for the new community will include 348 townhomes built by Lennar, plus 250 apartments, and 7,000 square feet of retail (with 12 additional apartments above).
David Perlman, CEO of PRDC Properties shared that the partners, including UC Funds, LLC were very selective when working to identify the right homebuilder for this community.
“With a project of the magnitude of River Pointe, and with the positive effect that this will have on the Borough as a whole, it was important that we partnered with a homebuilder that not only has superior quality and reputation, but that also understood the local market in Bridgeport and the impact this community will have.” Perlman continued, “River Pointe is the continuation of PRDC’s emphasis on development, and redevelopment, of sites for residential, commercial, and industrial building through Southeastern PA, and is just one of many projects PRDC will bring to market in the next two years.”
PRDC Properties was the developer of the Parkview Townhomes at the bottom of West 7th Avenue in Conshohocken.
The above video from 2020 shows the property where River Pointe will be built. Note that the project was previously known as Bridgeview (which is how the video is labeled). If you aren’t familiar with the area, note that you can see Conshohocken Brewing’s Bridgeport location (the red building) and the bridge between Bridgeport and Norristown at the top of the video at the 20-second mark.
While a national company, Lennar has a Philly Metro Division, which is based out of King of Prussia. “It was obvious from the very beginning that their local leadership really embraced this opportunity, we were pleased with their enthusiasm and passion for this project, and also their intimate knowledge of the Borough,” said Anthony Maras, vice president of development for PRDC.
“From a business perspective, the opportunity to work with PRDC and their visionary leadership was a clear decision for us. From the beginning we fell in love with this project and the opportunity and what we could do here,” said Lennar’s Philly Metro Division President Tench Tilghman. “Every new community is special for us. Whether we’re building 35 homes or 350 homes, we pride ourselves on doing the right things for the right reasons and knowing what a successful community here will mean to the Borough and the surrounding area made it all the more special.”
That mantra was championed by Lennar Philly Metro Division Director of Land Acquisition, Matt Caffrey, “As a team, we immerse ourselves in every project, but even more-so with Bridgeport. We invested a lot of time over the last year walking through the Borough, absorbing everything we could as we evaluated this property. We saw the transformational potential this community will have on the riverfront and the main street; it truly became personal for us.”
According to a press release, the community will offer several townhome styles and sizes at multiple price points to attract a variety of homebuyers.
There will be three types of townhomes, ranging from 1,085 square feet to 2,500 square feet. This will include contemporary townhomes, featuring stacked townhomes, and three-story townhomes with two-car garages located in the front or the rear of the building. In addition, there will be options with roof decks to provide river views.
For more information on River Pointe call (610) 606-1644 or visit its website.