At first glance it appeared that the $36.6 million settlement in the devastating apartment blaze would go a long way to compensate the victims. However most of the money is slated for the rebuilding of the two apartment buildings in Conshohocken’s riverfront. The serendipity of erecting new buildings after the horrific blaze will no doubt contribute to the successful revival of this aging town. Good fortune had it that the litigation resolved within months, or just little over a year.
The same construction companies that paid most of the settlement money will be responsible for doing the construction on the riverfront. The new buildings will be upscale complexes with doorman and rents up to $5,000. It is doubtful that the displaced victims of these apartment complexes could afford to pay these skyrocketing rents.