Edgewater Phase II Completion Set for June

PHILADELPHIA, May 16, 2023 /PRNewswire/ -- Greystar and FCP_® announce the new riverfront Edgewater Phase II apartment community will wrap construction in the second quarter of 2023.

The community was built using modular construction, which is a new method that is more sustainable with less material waste, energy consumption, and carbon footprint than conventional construction methods. Additionally, modular construction results in better quality than conventional construction by providing:

• Superior acoustics due to the dual layer walls and ceiling/floors
• Improved quality of finished apartment homes due to manufacturing in a controlled environment with integrated quality control
• Better plumbing and mechanical systems that are more energy efficient

"We're excited for the completion of Edgewater Phase II," said Nick Fontaine, Director of Real Estate at Greystar. "This community has a fantastic amenity package and an amazing riverfront location that is also minutes from the best restaurants, entertainment, shopping and culture that the city has to offer. It is a place that residents are going to love."

"FCP is thrilled to enter the last phase of construction for Edgewater II, a modern and welcoming addition to the Edgewater community," said FCP's Ross Magette, Vice President of Development Management. "Utilizing a well-established and proven modular technology, residents in this building will enjoy quieter living in a high-quality building knowing that their homes were built with a minimal carbon footprint. Construction completion will represent the culmination of several years of work on this project with Alterra Property Group (APG), who led the sourcing of the modules and the execution of the construction. APG has been a longtime partner with FCP on several projects and we are excited to bring another one to fruition."

Edgewater Phase II has 180 apartment homes available in studio, one- and two-bedroom floorplans that range from 435-1035 square feet with rents starting at $1,700 a month. Apartments feature an in-unit washer and dryer, dishwasher, quartz countertops, under-cabinet lighting, a tile backsplash, ample built-in storage/media cabinet, and an integral light vanity mirror.

Community amenities include a fitness center and yoga studio, courtyard pool, co-working lounge, billiards room, package locker, outdoor grill and lounge area, roof deck, business center, dog park, and a residence lounge with Wi-Fi. Edgewater Phase II has direct access to the Schuylkill River Trail which offers a variety of recreational opportunities and scenic vantage points.

Please visit edgewaterapartmenthomes.com to learn more and to schedule a tour.

About Greystar 
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, and development services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates over $250 billion of real estate in 234 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 817,000 units/beds globally, and has a robust institutional investment management platform comprised of more than $69 billion of assets under management, including approximately $29 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

About FCP
FCP_® is a privately held real estate investment company that has invested in or financed more than $12.4 billion in assets since its founding in 1999. FCP invests directly and with operating partners in commercial and residential assets. The firm makes equity and structured investments in income-producing and development properties. Based in Chevy Chase, MD, FCP invests both its commingled, discretionary funds and separate accounts targeted at major real estate markets in the United States. For further information on FCP, please visit www.fcpdc.com.

SOURCE Greystar