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Construction Revs Up on $14M Suburban Condo

ARDMORE, PA-Strategic Realty Investments and Vaughan & Sons partner to develop the 28-unit Cambridge Square.

By Marita Thomas | Updated on September 27, 2006

(To read more on the multifamily market, click here.)

ARDMORE, PA-A partnership between Wayne-based Strategic Realty Investments LLC and Vaughan & Sons Builders has broken ground on Cambridge Square, a five-story, 28-unit residential condominium. It is seen as a model for Strategic Realty’s ongoing focus on infill locations, particularly “brownfield” sites, in the Philadelphia suburbs.

Cambridge Square is going up at 120 Sibley Ave., site of an 1800s icehouse that’s within walking distance of the Suburban Square shopping center and Septa rail line. “It was a largely vacant brownfield site containing a deteriorating structure,” Peter Monaghan, Strategic Realty’s chief investment officer, tells GlobeSt.com. “We cleaned up the site and razed the building.”

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