PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[Urbanthusiat]

Norristown Times Herald building sold, razed to make way for $50M apartment project

[summersm343]

Originally Posted by Urbanthusiat

Norristown Times Herald building sold, razed to make way for $50M apartment project

Great project:

A building that housed Norristown’s Times Herald for decades has sold for $600,000 and razed to make way for a proposed $50 million apartment complex.

The 35,621-square-foot building at 410 Markley St. was purchased by Bennett Properties, a Harleysville real estate firm run by Ross Ziegler, an orthodontist who dabbles in development. Bennett bought the property, which sits on just over an acre, from 410 Markley Street LLC, which is an affiliate of Alden Global Capital.

Preliminary plans call for the development of a 320-unit apartment complex that will cost between $50 million to $55 million. Ziegler is working with the borough, which approved zoning for the project. However, the developer has yet to file a land development plan, said Jayne Musonye, director of planning and municipal development in Norristown. The site is in a federal opportunity zone.

“I’m pretty excited about the project,” Ziegler said. “You look at Norristown and it’s ideally located in the middle of two employment hubs … King of Prussia and Philadelphia. This is across from the train station and near 202 and the turnpike.”

Ziegler expects the land planning process to take six months to be finalized.

[Urbanthusiat]

SORA West’s town square taking shape in Conshohocken

[Urbanthusiat]

River Station on path to become new local hub in Downingtown

[Urbanthusiat]

Apartments, retail planned for Bala Cynwyd’s One Belmont Avenue site

[chimpskibot]

Originally Posted by Urbanthusiat

River Station on path to become new local hub in Downingtown

I am glad Downingtown is getting more density and the industrial blight is gone, but the congestion and traffic on the feeder road is going to be a nightmare. I used to live around here and after 3pm the traffic under the viaduct was no joke. I also think the should have a better flood protections as it seems like Throndale, Caln and Downingtown have had really poor flood management last few years. Especially in areas with viaducts.

[cardeza]

Originally Posted by Urbanthusiat

Apartments, retail planned for Bala Cynwyd’s One Belmont Avenue site

This is better than a parking lot, but the issue with adding apts along this stretch is that it is not walkable and the traffic on City ave is horrendous. Unless the people work from home they are likely to be using their cars or the 44 bus which uses City ave and I76 and thus gets tied up in traffic.

[PhilliesPhan]

Originally Posted by Urbanthusiat

Norristown Times Herald building sold, razed to make way for $50M apartment project

Great for Norristown! Norristown has many of the ingredients that Conshohocken and King of Prussia simply don't have: a ton of rowhomes, multiple walkable retail corridors, a zoo, access to Valley Forge and Philadelphia via the Schuylkill River Trail, a large transit hub, and a much lower cost of living. It is also a county seat. It should be a MUCH more vibrant place than it is at the moment.

The major thing that Conshy, KOP, and even Bridgeport have over Norristown is schools, however.

[summersm343]

Originally Posted by Urbanthusiat

SORA West’s town square taking shape in Conshohocken

Love this project. It's done a great job of making the "Downtown" area of Conshohocken feel larger and feel like a small city.... and the historic firehouse will be TWO restaurants which is super cool. Now if we could just get that parking garage across the street developed into a highrise

[summersm343]

Originally Posted by PhilliesPhan

Great for Norristown! Norristown has many of the ingredients that Conshohocken and King of Prussia simply don't have: a ton of rowhomes, multiple walkable retail corridors, a zoo, access to Valley Forge and Philadelphia via the Schuylkill River Trail, a large transit hub, and a much lower cost of living. It is also a county seat. It should be a MUCH more vibrant place than it is at the moment.

The major thing that Conshy, KOP, and even Bridgeport have over Norristown is schools, however.

That's fine. Norristown just has to attract the younger demographics that don't have kids yet. Offer something different.

[summersm343]

Originally Posted by Urbanthusiat

River Station on path to become new local hub in Downingtown

Love this project! Great project. Downingtown is another town in the region that has a ton of potential. I love how this project connects to the trail along the East Branch Creek, and I love the idea of moving the train station closer to the heart of town.



More renderings for the project are available at the website here:
https://www.hankingroup.com/property/river-station/

...And in the project brochure here:
https://www.hankingroup.com/wp-conte...ted-2022-2.pdf

[summersm343]

Originally Posted by cardeza

This is better than a parking lot, but the issue with adding apts along this stretch is that it is not walkable and the traffic on City ave is horrendous. Unless the people work from home they are likely to be using their cars or the 44 bus which uses City ave and I76 and thus gets tied up in traffic.

This is a backwards way of thinking. There are a ton of plans to make Bala Cynwyd more walkable, and the township is pushing for it too.

There's quite a few walkable developments already completed and future plans on and around Bala Ave. The owner of the Bala Cynwyd shopping center built the Delwyn and is planning a more urban-style apartment building at the site of the old Lord & Taylor.... AND Tishman Speyer whom owns many properties in the Bala Cynwyd office complex is planning a more urban and walkable redo of their properties between Decker Blvd. and Kings Grant Drive, as well as their properties in and around Bala Plaza.

You fight traffic by building transit oriented development and walkable areas. This whole area is urbanizing and will becoming more walkable. This is just the next property in line to get the treatment.

[PHLtoNYC]

Informative article about the history of the Moorestown Mall.

A struggling South Jersey mall to get new life by adding apartments, hotel, and a health clinic

https://www.inquirer.com/real-estate...-20220330.html

"Long eclipsed by the Cherry Hill Mall, its larger and flashier cousin 10 minutes west on Route 38, the Moorestown Mall has lost three of its four department stores."

"But a proposed transformation — including the construction of more than 1,000 apartments, an outpatient medical center, and a hotel — may help the smaller mall survive the disruption of bricks-and-mortar retailing and emerge from Cherry Hill’s shadow, as well."

[summersm343]

Westrum Development Co. buys Wilmington site for new apartment complex

An entity affiliated with Westrum Development Co. has paid $3.3 million for a 3.49-acre site in Wilmington and plans to develop a 193-unit apartment complex on the property.

CSW Luxor VI Wilmington LP, the Westrum affiliate, bought the property at 340 S. Market St. from E-Tegos LLC of Newark, Delaware. A single-story, vacant warehouse totaling 17,500 square feet that dates back to 1970 is on the property.

“Right now there continues to be a major appetite for apartment development sites in the city of Wilmington,” said John Hickey, a broker with NAI Emory Hill, who represented the seller in the transaction. “This is not just a real estate transaction but it’s an important, strategic moment in the development of that corridor. That’s the direction Wilmington is growing.”

Article behind paywall here:
https://www.bizjournals.com/philadel...ilmington.html

[cardeza]

Originally Posted by summersm343

This is a backwards way of thinking. There are a ton of plans to make Bala Cynwyd more walkable, and the township is pushing for it too.

There's quite a few walkable developments already completed and future plans on and around Bala Ave. The owner of the Bala Cynwyd shopping center built the Delwyn and is planning a more urban-style apartment building at the site of the old Lord & Taylor.... AND Tishman Speyer whom owns many properties in the Bala Cynwyd office complex is planning a more urban and walkable redo of their properties between Decker Blvd. and Kings Grant Drive, as well as their properties in and around Bala Plaza.

You fight traffic by building transit oriented development and walkable areas. This whole area is urbanizing and will becoming more walkable. This is just the next property in line to get the treatment.

Nothing along City ave is more walkable. You are talking about building "urban" apt complexes within parking lots -its like the town center near KOP, its walkable within the boundaries, but its not connected to anything in the area by foot or bike. City ave itself would need major changes to become pedestrian friendly and Ive see no such plan. So what you will end up with is more congestion in the near term. The apt complex built at the rear of One Bala Plaza is tucked behind a shopping center surrounded by surface parking- its not connected to anything.

[Busy Bee]

Originally Posted by summersm343

Love this project! Great project. Downingtown is another town in the region that has a ton of potential. I love how this project connects to the trail along the East Branch Creek, and I love the idea of moving the train station closer to the heart of town.

Isn't this kind of as faux urban as it gets though?

[3rd&Brown]

Originally Posted by summersm343

That's fine. Norristown just has to attract the younger demographics that don't have kids yet. Offer something different.

The Norristown Schools aren't THAT bad. I mean, it's not like Chester where literally the entire district is impoverished.

The Norristown School district includes East and West Norriton. These are middle to upper middle class places. If anything, I would think it means the Norristown schools actually overperform relative to the socioeconomic demographics of Norristown borough itself.

It should be a selling point for re-development relative to other urban areas.

[3rd&Brown]

Originally Posted by cardeza

Nothing along City ave is more walkable. You are talking about building "urban" apt complexes within parking lots -its like the town center near KOP, its walkable within the boundaries, but its not connected to anything in the area by foot or bike. City ave itself would need major changes to become pedestrian friendly and Ive see no such plan. So what you will end up with is more congestion in the near term. The apt complex built at the rear of One Bala Plaza is tucked behind a shopping center surrounded by surface parking- its not connected to anything.

It's weird to assume the re-development wouldn't be walkable without seeing any plans. Literally, at least on the Montgomery County side, just creating a planted barrier and maybe widening the sidewalk to 10 or 12 feet would vastly improve walkability and provide protection from the street.

Lower Merion is building walkability better than any other car oriented suburb in our area. It's not King of Prussia. They know that. They're doing a pretty good job with nearly everything that's going up in Bala, Ardmore, and Bryn Mawr. I mean, my god, the density of uses of new development would make residents in most other suburbs come out with the pitchforks.

LM has made it clear this is the future of the township (i.e. walkable village centers that spread into less dense housing on the outskirts). If you live there and you don't like it, then move to Malvern.

[el don]

Originally Posted by 3rd&Brown

The Norristown Schools aren't THAT bad. I mean, it's not like Chester where literally the entire district is impoverished.

The Norristown School district includes East and West Norriton. These are middle to upper middle class places. If anything, I would think it means the Norristown schools actually overperform relative to the socioeconomic demographics of Norristown borough itself.

It should be a selling point for re-development relative to other urban areas.

I'm honestly curious how you came to this conclusion?

Having been born and raised in Norristown, I can tell you anyone that can afford it would never send their child to public school. Can you get away with sending your kid to Paul Fly, or Cole Manor? Sure, but some of the other grade schools are pretty bad.

Then once again, The High (highschool) is easily the worst high school in Montgomery County. I went there, nobody middle class or up is sending their kids there. If you get kicked out of the high, they send you to Roosevelt, which as you can imagine is worse.

Then on top of all of that, every single school district around Norristown is unfathomably better in every single direction that you go.

If you want to scare people away bring up the school district, it should never ever be brought up to entice people to move there.

Other things about Norristown, MS-13 has a base there. It's not super large or anything but they are around. Mexican food is the best outside of Philly. It's very boring, hopefully as they build up the core near the courthouse more activities/attractions come into town.

[summersm343]

BET Investments puts Prudential's 90-acre Upper Dublin campus under agreement

BET Investments Inc. has put under agreement Prudential Insurance Co.'s 90-acre campus in Upper Dublin, seizing on an expansive parcel that is contiguous to other properties the real estate company owns.

BET Investments owns a 225,000-square-foot office building next door at 200 Dryden Road and developed the Promenade at Upper Dublin, an adjacent mixed-use complex with retail space and apartments. In addition, Toll Brothers Inc. developed the Enclave at the Promenade 55-plus residential community on land that also abuts the Promenade at Upper Dublin.

“For us, it’s really important,” said Michael Markman, president of BET Investments. “It’s the continuation of what we have built here and allows us to connect four great projects together and create an awesome development.”

Once combined with the Prudential property, a mixed-use development spanning a total of 200 acres would be created. Markman declined to disclose how much BET Investments is paying for the property since the transaction hasn’t closed.

Article behind paywall here:
https://www.bizjournals.com/philadel..._8&cx_artPos=0