SEPTA’s 300-Unit Apartment Plan Near Conshohocken Station Signals a Big Shift for Montgomery County Buyers

By Josh McKnight | The McKnight Team

SEPTA just dropped its plan for a 528-space parking garage near Conshohocken Station and replaced it with something very different. A 300-unit apartment building. Philadelphia developer Alterra is set to lease the land for 99 years at $600,000 a year, with rent climbing 3% annually. Total value of the deal: about $330 million. For anyone watching the Conshohocken real estate market, this is a meaningful pivot.

Why This Plan Matters for Conshohocken

The shift from parking to housing tracks with what Conshohocken has been doing for years. Walkable. Transit-friendly. Built around the train station and the river. SEPTA and Montgomery County have been pushing for more transit-oriented development, and adding 300 units within walking distance of Regional Rail fits that vision cleanly.

There is one hurdle. Conshohocken rezoned the parcel in 2022 to ban multifamily housing. So Alterra needs either a variance or a new ordinance to move forward. The plan still includes 119 dedicated parking spaces for Regional Rail commuters, which keeps the train station functional for buyers who commute into the city.

What 300 New Apartments Could Mean for Home Values

Conshohocken is already a tight market. According to Redfin, the median sale price in November 2025 came in at $433,000, and homes were going under contract in about 32 days. New listings on the active market are running well above that, with current condo inventory at a $443,000 median list price. The borough sits inside the Colonial School District, and proximity to the Schuylkill River Trail and 76 has kept buyer demand strong. You can see more about the area on our Conshohocken community page.

More rentals near the station does a few things. It pulls renters who might otherwise buy a starter home, which can ease pressure on the entry-level segment. It also brings more daily foot traffic to Fayette Street, which has historically lifted property values in the Avenues and the river side of town. For owners of smaller homes and condos in the borough, that combination usually nudges values higher over time.

What This Means for You

If you are a buyer eyeing Conshohocken right now, do not wait for these apartments to break ground before making a move. Approval and construction will take years, and the demand story for the borough is already in motion. Sellers in walking distance of the station should pay attention. A development of this size near a train stop tends to lift comparable home values once shovels go in the ground. If your home is paid down or you have been thinking about timing, this is the kind of catalyst worth a real conversation.

At The McKnight Team, we watch every project like this in Conshohocken and across Montgomery County so our clients are never reacting late. We help families decide what to do with the equity they have built and how to position a sale before the market shifts. You can reach us anytime at TheMcKnightTeam.com.

Thinking about buying or selling in Conshohocken? Let’s talk.

Frequently Asked Questions About Conshohocken Real Estate

What is the Conshohocken housing market like right now?

Conshohocken is a competitive borough market. Recent Redfin data put the median sale price around $433,000, with homes going under contract in roughly 32 days. New construction condo prices are higher, with current listings showing a median around $443,000. Inventory stays tight because the borough is small and demand for walkable, train-accessible neighborhoods is strong.

How long does it take to sell a home in Conshohocken?

Most homes in Conshohocken sell within about 32 days, though well-priced and well-presented homes near Fayette Street or the river often go faster. Pricing strategy and condition matter more here than in larger townships because so many buyers are weighing Conshohocken against neighboring Plymouth Meeting, Lafayette Hill, and Wynnewood.

Will the new SEPTA apartment project hurt or help Conshohocken home values?

Based on what we have seen with similar transit-oriented projects in this region, the long-term effect is usually positive for nearby homeowners. More people walking to the train, more activity around restaurants and shops, and more demand for housing within a half mile of the station all support values. The short-term effect can be more construction noise and traffic during the build.

Is Conshohocken a good place for first-time buyers?

It can be, especially in the older Avenues blocks where smaller twins and rowhomes still come up under $400,000. Just expect competition. Pre-approval, a clean offer, and a quick decision timeline help a lot in this borough.

Source: Philadelphia Inquirer; 4/24/2026