Press Release | May 15, 2023
Since acquiring the 218-acre tract in Newtown Square, PA in 2004, Equus Capital Partners has worked diligently to execute the repositioning and development of the campus that has become Ellis Preserve. We have completed the adaptive reuse of 14 buildings totaling 800,000 square feet and constructed a 130,000 SF medical office building for Main Line Health. With the opening of the first phase of the Shoppes at Ellis Preserve in 2017, we created a new and exciting 110,000 SF “Town Center” anchored by Whole Foods and the 138 room Hilton Garden Inn. In 2018 we welcomed full time residents to Ellis Preserve for the first time with the opening of our 252 unit Madison Luxury Apartment Homes community. A new 378,000 SF headquarters building for AmeriHealth Caritas was completed and opened in 2021. We have attracted more than 57 new companies to the campus representing nearly 8,500 new jobs. Formerly a secured/restricted access campus, we have long since removed the guard gates and invited the Newtown Square community inside the campus to experience our restored history and vision and to enjoy our trails and 13 acres of preserved green space. For Equus Capital Partners, Ellis Preserve is the company’s signature mixed use development and “Real Estate Laboratory” and since 2018, has served as its Corporate Headquarters in a new Leed Gold building. The 40,000 SF building was designed to be unique, had to represent the Mission Ellis Preserve Final Phase Rendering and Values of Equus Capital Partners and had to blend with and enhance the community of Ellis Preserve. The design inspiration, materials sourcing, construction, and delivery of the Equus Capital Partners Headquarters is a story of painstaking research and attention to detail. The building itself is constructed in large part from reclaimed wood from another Equus project known as the Berkshire Knitting Mills in Wyomissing, PA originally constructed in 1906. Most components of this “new” building are actually over 100 years old and inspired the creation of a “modern barn” styled office building which narrates the Equus story and Brand. Ellis Preserve’s unique story is one that represents the finest points of responsible and sustainable real estate investment and development. Ellis Preserve encompasses historic preservation of century old and iconic stone buildings, preservation of open lands, repurposing of previously functionally obsolete office and lab buildings and the creation of new residential, hotel and retail offerings that blend elegantly with their countryside surroundings while generating an economic boon that benefits Newtown Township and the greater Delaware County community. The final development phase of Ellis Preserve is now well under way. Known as The Village at Ellis Preserve and comprising more than 30 acres, this phase features the newly constructed “The Harrison at Madison Ellis Preserve”, a community of 200 luxury apartment homes that offer Country Club style living. Prominently situated within the Village will be the region’s first Mass Timber office building which totals 105,000 SF in 5 stories and is 100% pre-leased. Located adjacent to a newly created community lawn designed for outdoor dining and entertainment will be a new 140 key AC Marriott Hotel plus 63 urban style townhomes and an additional 87,000 SF of retail, dining and event space. Currently under construction and opening later this year, the Newtown Square community has enthusiastically embraced this newest addition and leasing activity has exceeded expectations. Key tenants will include Ruth’s Chris Steakhouse, Benari Jewelers, Spread Bagelry, La Colombe, Sedona Tap House, Turning Point Restaurant and more. Rounding out the Village at Ellis Preserve will be “The Ivy”, the second wedding and conference venue to enjoy the convenience, scenery and vistas found at Ellis Preserve. Once a restricted campus of functionally obsolete buildings, Ellis Preserve is now the town center of Newtown Square and is Delaware County’s center of economic growth.
The numbers tell the story:
2004–Acquisition: • Gated and closed campus • 800,000 SF of mostly dilapidated and functionally obsolete buildings • 3 companies • 150 employees • No residents
Today: • Open campus welcoming the public daily • 1.425 million sf of renovated or newly constructed office space that is 99% leased to 57+ companies • 8,500+ employees • 655 residential units—comprised of 452 rental units and 203 individually owned homes • 110,000 SF Town Center that is 100% leased with an additional 93,000 SF of retail/dining to be completed in Q4, 2023 • 105,000SF Mass Timber office building to be completed in Q3, 2024 • Two hotels totaling 278 rooms
