Keystone has secured $42 million from Arbor Realty Trust to convert a 175,000-square-foot office building at Plymouth Meeting Mall into Monarq, a 149-unit residential community. Located at 500 W. Germantown Pike, near the I-476 and I-276 intersection, the building shares a parking lot with Whole Foods and AMC Theaters. The first phase is set for completion in early 2026. Monarq will feature a fitness center, indoor pool, coworking lounges, outdoor communal spaces, and some units with private balconies. Meanwhile, mall owner PREIT is exploring plans to sell a portion of the parking lot for a separate 275-unit residential project, pending township approval.

*Article courtesy of Philadelphia Business Journal

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