On Thursday July 11th, Lancaster Mayor Danene Sorace joined leaders from Baltimore-based Washington Place Equities (WPE), WPM Real Estate Management, and a collaborative team of partners for a groundbreaking ceremony to kickoff construction for the adaptive reuse apartment community being built on the site of the former St. Joseph's Hospital.
LANCASTER, Pa., July 17, 2024 /PRNewswire-PRWeb/ -- On Thursday July 11th, Lancaster Mayor Danene Sorace joined leaders from Baltimore-based Washington Place Equities (WPE), WPM Real Estate Management, and a collaborative team of partners for a groundbreaking ceremony to kickoff construction for the adaptive reuse apartment community being built on the site of the former St. Joseph's Hospital. The project team includes architect Alexander Design Studio, Warfel Construction, and engineering firm ELA Group, Inc., as well as funding partners M&T Bank and PNC Bank.
"We're thrilled to be starting construction on this project," says Dominic Wiker, Vice President & Director of Development for Washington Place Equities. "WPE is very intentional and selective about where we choose to invest, specifically looking at communities where our work is integral to the broader community. Lancaster is undergoing a renaissance of sorts, and we're excited to be a part of it."
"We really appreciate Washington Place Equities as well as our partners HDC MidAtlantic for helping us imagine this block," said Lancaster City Mayor Danene Sorace. "I know that there are other mayors across the Commonwealth that would just be dying for a project like this… The fact that the city of Lancaster continues to attract investors from outside of Lancaster County is a mark. And we are becoming very competitive in terms of the kinds of developers that we are attracting to the City."
The mayor was in attendance to celebrate the continued growth and redevelopment of the city. The project includes construction of 185 one- and two-bedroom apartment units and 2,000 square feet of retail space. When completed, the overall development will transform the former hospital campus into a mixed use, mixed-income development, offering a diverse range of residential, retail, and commercial options to meet the needs of the community.
About Washington Place Equities:
Washington Place Equities (WPE) is a Baltimore-based equity investment firm that has grown throughout the Mid-Atlantic region by investing in projects aligned with economic development initiatives and designed to strengthen communities. The company invests in value-add and redevelopment properties, as well as ground up development opportunities, with an emphasis on multifamily, manufactured housing, and senior living real estate. For more information visit www.washingtonplaceequities.com.
About WPM Real Estate Management:
WPM Real Estate Management provides property management for over 26,000 homes and 50,000 people in the Mid-Atlantic region, including Maryland, Pennsylvania, Delaware, and Virginia. It holds designations as an Accredited Management Organization® (AMO®) and an Accredited Association Management Company (AAMC®). The company's primary focus is residential: multifamily, condominium, senior housing, student housing, and homeowner association communities. In addition, it has a managed portfolio of commercial, industrial, and retail properties. WPM has ranked #1 on the Baltimore Business Journal List of Largest Residential Property Management Companies in the Baltimore Area year over year. The firm also has been recognized as one of Baltimore's Top Workplaces by The Baltimore Sun, ranking among the top large employers for 12 consecutive years. The company employs over 500 employees across more than 150 properties. For more information visit www.wpmllc.com.
Media Contact
Brent Gratton, WPM Real Estate Management, 1 4437967450, [email protected], wpmllc.com
SOURCE WPM Real Estate Management
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