Baltimore-based Stonewall Capital recently acquired a 187-acre property in New Garden Township with plans for a $300 million mixed-use development, writes Ryan Mulligan for the Philadelphia Business Journal.
Local officials said the project, with 622 residential units, offers a chance to provide much-needed housing in the area.
The White Clay Point project will also feature 115,000 square feet of commercial space, a Wawa, and office space. Spanning over 220 acres, Stonewall Capital’s recent $15 million acquisition of 187 acres at 9060 Gap Newport Pike brings the development one step closer to completion.
The development will sit on land that was once host to an industrial mushroom compost facility. PREIT acquired the property in the early 2000s, intending to build a big-box retail center, but strong opposition from the township and residents stalled the project.
JPMorgan Chase purchased the site in 2019 with plans to partner with a homebuilder for 309 townhomes, but those plans also failed to come to fruition.
“Until Stonewall came along, it had never really had any sense of momentum as a project,” said New Garden Township Manager Christopher Himes.
Read more about White Clay Point coming to New Garden Township in the Philadelphia Business Journal.
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