Berwyn-based residential developer LCOR Inc.’s latest project, Arlo, is a 244-unit apartment community just off Route 202 in Malvern that will open in coming weeks. Arlo will consist of two four-story buildings, including a clubhouse that houses a fitness center and screening room. A 439-square-foot, one-bedroom studio apartment at Arlo will rent for $1,400 per month. At the high end, a three-bedroom, two-bath unit comprising 1,416 square feet will rent for $3,140 per month. The rental market has been ticking upward for the past few years. Apartment demand in the second quarter of 2019 has spiked 11% from just a year ago, and the built-for-rent share of housing starts is nearly double its recent historical average.
Source: Daily Local; 10/13/2019
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