Six new projects are poised to bring an influx of around 1,000 new apartments to Lower Merion over the next three to five years, writes Natalie Kostelni for the Philadelphia Business Journal.
Already on the drawing board is a $54 million, 206-unit project from Roseland Property in partnership with Keystone Property Group at 150 Monument Road in Bala Cynwyd.
There is also a planned $45 million apartment project by Cross Properties at 10 Union Avenue, while Jefferson Apartment Group and Haverford Properties are moving forward with the 250-unit Reserve at Maybrook.
Rounding out the new developments are a $60 million project with 250 apartments at 335 Righter’s Ferry Road, a nearly completed 275-unit complex at 600 Righter’s Ferry Road, and a $56 million, 121-unit mixed-use development on Cricket Avenue in Ardmore.
“We are extending our community by providing these alternative living areas,” said Chris Leswing, assistant director of planning in Lower Merion. “By doing that, we are diversifying our communities, and we are seeing a generational bump back into our neighborhoods.”
Read more about the developments in the Philadelphia Business Journal by clicking here.