A subsidiary of developer Trammell Crow Co. has acquired a six-acre waterfront tract beside SEPTA’s Conshohocken Regional Rail station with plans for a 230-unit apartment building at the site.

High Street Residential, the Trammell Crow unit that builds apartment and condominium projects, plans to complete the five-story building at 101 Washington St., to be known as Matson Mill, by the end of June 2022, the developer said in a release on Wednesday.

Trammell Crow, which is owned by commercial real estate group CBRE, was partnering on the 317,740-square foot project with insurer MetLife Inc., it said.

Chris Sencindiver, a principal with the Trammell Crow’s Northeast U.S. operations, said the developer was drawn to the site by its highway and public transportation access, as well as by other development activity in the borough.

Other projects in the area include Keystone Property Group’s Sora West project, which will be a new headquarters for AmerisourceBergen, and Seven Tower Bridge, which a team involving Oliver Tyrone Pulver Corp. is building for office users including investment manager Hamilton Lane.

“We are thrilled to begin the construction process at Matson Mill,” Sencindiver said in the release. “The borough of Conshohocken is in the midst of a revitalization period.”

A Trammell Crow spokesperson declined to share a purchase price for the Washington Street development site. The property was last owned by the family of late Conshohocken businessman James J. Neve, records show.