Keystone announced it has secured $42 million in financing from Arbor Realty Trust for its visionary 149-unit luxury apartment community at 500 West Germantown Pike, branded Monarq. This project repurposes a 175,000-square-foot office building into walkable, wellness-focused apartments, enhancing Keystone’s leadership in office-to-residential redevelopment.
Keystone has seen a track record of converting office spaces into amenity-rich residences that meet the growing demand for urban living. And Monarq builds on the success of The Lyndon, Keystone’s office-to-residential conversion at the historic Curtis building in Philadelphia, which features 86 luxury residences and is now fully leased. The company continues to expand its portfolio with projects like 400 Market in Philadelphia, a 176-unit development, and HYVE in Miami, a 221-unit project currently underway.
Monarq combines sophisticated design, wellness-centric features, and urban walkability in a suburban location. And residents will enjoy direct access to Whole Foods, dining, retail, and entertainment, plus seamless connectivity to major highways, including I-476 and I-276.
The residences maximize natural light, with select units featuring private balconies. And a reimagined exterior and elevated arrival experience create a welcoming atmosphere, complemented by a state-of-the-art fitness center, indoor pool, outdoor communal spaces, and co-working lounges. Additional amenities include private screening room, resident social spaces, smart home features, and enhanced soundproofing.
Based on the Plymouth Meeting Mall campus, which is undergoing its transformation into a vibrant town center with additional residential approvals, Monarq is at the heart of this evolving community. The development also benefits from abundant on-site parking.
The first phase of residences is expected to be delivered by Q1 of 2026, with leasing details to be announced soon.
KEY QUOTE:
“Monarq is a game-changer for this market. With this financing, we’re one step closer to delivering a design-forward community that prioritizes well-being, social engagement, and convenience.”
– Rich Gottlieb, President and COO of Keystone
