Equus Capital Partners Ltd. has acquired a 6.7-acre site beside Lansdale's SEPTA Regional Rail Line station, with plans for a complex of seven three- and five-story buildings with 181 apartments and 15,500 square feet of ground-floor retail.

Equus, based in Yardley, acquired the downtown Lansdale development site late last week for $1.9 million from the Lansdale Parking Authority, which no longer needed the site for parking after SEPTA's recent construction of a 680-space garage nearby, the company said in an e-mail Wednesday.

Equus plans to begin building the project, called Madison Lansdale Station, in mid-November. The first apartment units and retail spaces will be available for occupancy in fall 2018, the company said.