Like a Black Friday Consumer at the Mall, SEPTA to Go on KoP Real Estate Shopping Binge

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train on elevated tracks
Image via KOP Rail at YouTube.

Black Friday is still weeks away; however, SEPTA is about to go on a King of Prussia shopping spree of its own, as Thomas Fitzgerald reported for The Philadelphia Inquirer. With $200 million in its wallet, it will soon seek to acquire 70 land parcels and easements needed for the KOP Rail project.

“Unfortunately, there was no magic route that would not require any real estate to be acquired in the dense King of Prussia area,” said Anna Hooven, KOP Rail director.

The real estate about to be bagged includes residential, industrial, and commercial properties. Planners worked diligently to mitigate the number of involved homes.

The elevated-rail design, applicable to about 90 percent of the route, means that SEPTA will be buying smaller parcels designed to hold only supports.

The transit authority must also, however, acquire air rights from the Pa. Turnpike Authority for two KOP Rail spans over 1-276.

Temporary easements will enable needed access to property for construction purposes. Once the lines and its five stations are completed, those permissions will lapse.

Hooven described the acquisition process as “property by property,” with title, appraisal, and price negotiations in the mix.

SEPTA’s goal is to have ownership of all necessary real estate assets by Dec. 2024, with a groundbreaking in 2025.

More on the real estate implications of the KOP Rail project are at The Philadelphia Inquirer.

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