Conshohocken is a populated and bustling borough outside of Philadelphia. The town has much to offer, from fun festivals and activities to many working opportunities and jobs. How did this area become so vibrant and important?
Mr. Atul Varma is the CFO of the private market investment management firm Hamilton Lane, based out of Conshohocken.
Hamilton Lane used to be centered in Bala Cynwyd, where according to Mr. Varma, “[Hamilton Lane] had about 50,000 square feet of the space, and [the company was] just growing really fast.”
Due to this increase in employees, largely resulting from the return of employees after the Coronavirus, the firm moved to Conshohocken.
“Our preference was to stay in Bala Cynwyd, but there was no space for our workforce, so we needed a bigger location,” Mr. Varma said. “They weren’t building office buildings there. We really didn’t want to move, but in Conshohocken we got the opportunity to move into an office building which was built for us where we are the anchor tenant. We can expand for 10+ years in this space.”
Conshohocken is all the rage for companies and expanding businesses due to this very reason. The space and location are just perfect, especially for the younger generation. Conshohocken is a hotspot for businesses, firms, and housing—due to its location.
“Another factor may be the Schuylkill river, which is a natural barrier to come to the city,” Mr. Varma said. “The bridges across it have become more popular with young people because they are entry points into the city. Young people who are working in Philly can’t afford the rents in the city, so they move out to towns like Conshohocken and Manayunk, and Conshohocken offers the combination of a short commute to the city and a cheaper rent because it is not directly in the city.”
Conshohocken acts as a gateway into the city for young interning workers who might appreciate its suburban feel.
In addition to the business standpoint, there is also a demand for housing causing Conshohocken’s residential boom.
“My dad’s family is actually from Conshohocken originally, he grew up there, but I grew up in Gilbertsville.” Spanish teacher Mrs. Brooke Kenna, a long-time resident of the borough, said.
After Mrs. Kenna pursued her interest in working in the baseball industry, she had to figure out where to live when she came back home.
“When I was looking to move back, I didn’t want to move into the city, but I wanted the city access and city spirit, while still having that hometown feel… and I ended up in Conshohocken!” Ms. Kenna said.
“When I moved, I purposely moved towards the train station thinking that I would be in the city more often, and then I realized… everything I needed was really right around Conshohocken,” Mrs. Kenna said.
Another principal reason Conshohocken is experiencing this rise in popularity is one many can attest to— the food scene.
“The restaurant scene is actually really amazing. If you want to grab a burger or enjoy a fancy meal, you can sort of get the best of both worlds,” Ms. Kenna said. “[It’s] super walkable, which is nice, and it’s beautiful!” Mrs. Kenna said. “The people are really nice, there’s a nice storefront area where I can do a lot of my shopping without having to get in my car.”