Kimco Realty, the New York real estate investment trust with offices in Ardmore, is proposing the development of a new apartment complex at Suburban Square, writes Natalie Kostelni for Philadelphia Business Journal.

According to preliminary plans filed with the Lower Merion planning department, the proposed building fronting Coulter Avenue would have five stories and a partial sixth story.

[uam_ad id=”51712″]

Advertisement

When complete, it will feature 158 apartments along with 19,300-square-feet of retail space at street level. There will also be 264 parking spots through a combination of underground and above ground spaces.

To construct the 73,811-square-foot building, Kimco Realty would have to demolish five of its property’s along Coulter Avenue along with a portion of another of its adjacent buildings.

Preliminary site plans are set to be presented to the Lower Merion planning commission next week. This would start the approval process which could take at least six months.

For the project to move forward, no variances or zoning changes would be required. “It is a permitted use,” said Andrea Campisi, a Lower Merion senior planner.

This would not be Kimco’s only project at Suburban Square. The company already has construction underway on a parking garage and an addition to an existing store.

Read more about the proposal at Philadelphia Business Journal by clicking here.

[uam_ad id=”52088″]