BET Investments recently acquired the 16-acre Conshohocken Ridge Corporate Center for $17 million, reports Paul Schwedelson for the Philadelphia Business Journal.

The company plans to redevelop the site into a mixed-use community featuring up to 200 apartments, retail space, and retaining some office space. 

BET aims to create a vibrant environment similar to its successful Promenade at Upper Dublin project.

The Conshohocken property, located at 625 W. Ridge Pike, currently holds one four-story office building and five single-story office buildings, totaling 200,000 square feet and with a 62% occupancy rate. BET plans to demolish two or three of these buildings to accommodate the new development. The site’s central location near major highways, including I-476 and I-76, adds to its appeal.

BET Investments President Michael Markman expressed his excitement for the project.

“We’re excited because we feel we can fill up the office space and if you add the other types of uses, this can be a project you can teach business students about,” he said. “It just takes someone to look at it a little differently.”

Approval from Plymouth Township is required for residential development, and Markman hopes to finalize approvals by late 2025 and begin construction in 2026, with completion anticipated in 2028.

Read more about BET Investments development plans in Conshohocken in the Philadelphia Business Journal.