The Flats at Kennett Breaks Ground, Signals New Luxury Apartments for Kennett Square Meets increasing rental demand with high-end units for millennials, boomers – Wire Real Estate

The Flats at Kennett Breaks Ground, Signals New Luxury Apartments for Kennett Square Meets increasing rental demand with high-end units for millennials, boomers




May 30, 2019

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Kennett Square, Pa., —

High Real Estate Group LLC held a groundbreaking for The Flats at Kennett, a four-story, 175-unit apartment complex that will bring luxury apartment living to Chester County. Located on a 14.4-acre tract at 603 Millers Hill Road, The Flats at Kennett will be Kennett Square’s newest apartment community and will open in 2020.
 

“The Flats at Kennett is designed for millennials, baby boomers, and others who want flexibility, lifestyle, and convenience,” said Brad Mowbray, senior vice president & managing director – residential division, High Associates Ltd. “This is an outstanding project that addresses the increasing multi-family demand in the Chester County market.” 

The project will comprise 230,000 square feet in three new buildings within a short walk of Kennett Square’s acclaimed downtown restaurant scene, and Anson B. Nixon Park via a walking trail. The site is proximate to Route 1 and about a 15-minute drive to Wilmington and 35 minutes to King of Prussia, Pa. The major attractions of Longwood Gardens and Chadds Ford are nearby, as are Kennett High School and several large employers including Exelon Corporation. Residents will have a short drive to the retail shopping corridor on Route 202. 

With elevators and secure access, The Flats at Kennett will offer studio, one-, two-, and three-bedroom units with high-end interior appointments including quartz countertops and Stainless GE® ENERGYSTAR® appliances, under-cabinet lighting, and shower stalls. Amenities will include a fitness center and yoga studio, bike storage and repair facilities, a pet-friendly policy and pet spa, resident storage, 23 underground parking spaces, electric car charging stations, nearby footpaths, and recreational open space. 

“Multi-family is a growth vehicle for High’s real estate portfolio,” said Mark Fitzgerald, president and COO of High Real Estate Group LLC. “We are developing and acquiring residential properties across multiple rental price points and geographies, here in Pennsylvania and beyond.” He noted that industry groups National Multifamily Housing Council and National Apartment Association project the need for 4.5 million new apartment units in the U.S. by 2020.

(For more details and an infographic on the project, click here.) 

This summer, High® will complete the leasing of 258 luxury apartments at The Crossings at Conestoga Creek, a planned, Main Street-oriented open-air development anchored by a Wegmans supermarket in Lancaster, Pa. Previously, High introduced its upscale apartment design to the Lancaster area with the opening of The Reserve at Greenfield, an 82-unit apartment building in Greenfield Corporate Center. 

“The High Real Estate Group sees multi-family as a long-term investment, and reinvests capital for features that people want, including interior and exterior modernization and renovation,” Fitzgerald said. The company owns and operates more than 2,800 residential units. In 2018, Pennsylvania Apartment Association Central recognized High Associates Ltd. as Property Management Company of the Year. 

The Flats at Kennett was designed by Greenfield Architects Ltd. of Lancaster, Pa., and will be constructed by High Construction Company, also of Lancaster. Both Greenfield Architects and High Construction are affiliates of High Industries Inc. The property is being developed by High Real Estate Group LLC and Merion Realty Partners, and will be managed by High Associates Ltd., which is an affiliate of High Real Estate Group LLC. 

High Associates will begin leasing units at The Flats at Kennett in spring 2020. 

About High Real Estate Group LLC – Residential

High Real Estate Group LLC develops, acquires, and today owns and operates more than 2,500 quality, market-rate residential units in South Central Pennsylvania and in North and South Carolina. Managed by affiliate High Associates Ltd., the apartment communities include Barrcrest Manor, Bentley Ridge, Greenfield Estates, Greenview Terrace, The Crossings at Conestoga Creek, The Reserve at Greenfield, The Summit at Mill Creek, and Village Green in Lancaster, Pa.; Orchard Ridge in Pottstown, Pa.; and, Plantation Oaks in Charleston, S.C. High also operates Eastwood Village, a manufactured home community in Lancaster, Pa. One of the largest apartment operators in Lancaster County, High’s portfolio consistently averages more than 95 percent occupancy and outperforms the market in tenant turnover rates. High Real Estate Group is based in Greenfield Corporate Center, East Lampeter Township, Lancaster, Pa. More information is available at www.highrealestategroup.com or 1-800-638-4414.

(Photo One Caption: The Flats at Kennett elevation rendering)

The Flats at Kennett, a 175-unit luxury apartment community by High Real Estate Group LLC, will open in 2020 at 603 Millers Hill Road in Kennett Square, Pa.

(Photo Two Caption: The Flats at Kennett Groundbreaking Ceremony)

From left to right:  

Rick Stoudt, President, High Construction Company;

Tony Seitz, VP – Development, High Real Estate Group LLC;

Rich Aljian, Partner, Merion Partners;

Brad Mowbray, Senior VP – Residential, High Real Estate Group;

Andrew Soule, Vice President, M&T Bank;

Ross Ansel, Project Architect, Greenfield Architects Ltd.;

Richard Leff, Vice Chair, Kennett Township Board of Supervisors

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Attachments

  • The Flats at Kennett Square – Rendering
  • TheFlatsAtKennettGroundbreakingCeremony
Dave Nicholas
High Companies
717-293-4545
dnicholas@high.net

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See Campaign: http://www.highrealestategroup.com
Contact Information:
Dave Nicholas High Companies 717-293-4545 dnicholas@high.net

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