Reading Eagle: Upscale Apartment Complex Opens in Wyomissing
September 16, 2009
Owners of 100 Park at Wyomissing Square say that more people are turning to renting
Another piece of the Wyomissing Square development, the $49 million apartment complex 100 Park at Wyomissing Square, has fallen into place.
Don Tracy, development manager for Bozzuto Development, Greenbelt, Md., said 100 Park, named for its address at 100 N. Park Road, is leasing and that he expects the 248-unit complex, where finishing touches still were being completed Tuesday, to be fully rented within about a year.
Little sign remains of the property's origins as a factory, where Textile Machine Works and Goss Graphic Systems operated for decades.
Previously opened in the development were the renovated ViVA Bistro and Tapas Lounge restaurant and the Courtyard by Marriott Reading Wyomissing hotel.
Bozzuto and New Boston Fund are the joint-venture owners of 100 Park, Tracy said.
The apartments' focal point is the clubhouse, which is open to all residents 24 hours a day.
It features a "living room" where residents can socialize; a pool room; a fitness facility with treadmills, weight machines and a rock-climbing wall; a swimming pool, which is under construction; and an e-lounge business center outfitted with computers and fax and copy machines. Wi-Fi is provided throughout the building, and most rooms have ports for iPods.
The owners also hired local artists to provide site-appropriate artwork.
"We want to make a wow factor here," Tracy said.
Lauren McDonald, Bozzuto's manager, corporate communications, said about 5 percent of the units are occupied and 15 percent leased.
Units range from 700-square-foot one-bedroom flats at $1,050 a month to 1,742-square-foot three-bedroom apartments for $1,800 a month. A few townhomes also are available.
Units, mostly featuring an open layout, feature light wall-to-wall carpeting, black countertops and refrigerators, washers and dryers, maple cabinets, nine-foot ceilings and six-foot windows allowing for ample natural light.
Extras include fireplaces, balconies, storage units and covered parking. Utilities are not included.
McDonald said the recession, which was not yet under way when the project first got was announced in 2004, has not affected the apartments.
"A lot of people are turning to renting," McDonald said, "people who could afford to buy. We're actually not seeing any decrease in demand due to the recession."