Kevin Michals, managing partner of Cross Properties, said that the company has acquired 20 properties on the nearly deserted North Bala Avenue for mixed residential and retail development.
Michals and his partners from Cross Properties are hoping to revitalize the area with the support of the Lower Merion Township commissioners. The officials have made zoning changes over the last two years that allow for taller residential developments in the area.
Construction is already underway on the first part, a $43 million four-story residential development with 110 units, two blocks from Bala Avenue’s business district.
Cross has also been welcoming the local community over the weekends to promote the development, with a pop-up NoBa art gallery and live performances with local beer and coffee on offer.
“We love to revitalize things that are overlooked and underused,” said Bobby Fijan, a Cross Properties partner. “Bala Avenue is not just an opportunity to revitalize a historic building, but a historic neighborhood.”
Read more about Cross Properties’ plans at Philly.com by clicking here.