Federal Realty Investment Trust will break ground on a new apartment building at the site of the former Lord & Taylor in Bala Cynwyd this spring, writes Paul Schwedelson, for Philadelphia Business Journal.

The residential development will have 16,000 square feet on the ground floor for retail space and a two-level parking garage.

Mark Brennan, vice president of regional development at Federal Realty Investment Trust, said that the plan is for the retail space to be rented out to multiple tenants such as restaurants, banks, or small fitness boutiques.

The new apartment building will also have a rooftop patio, courtyard, golf simulator, and work-from-home stations.

This is the second phase of the residential project, Delwyn, which is transforming the Bala Cynwyd on City Avenue shopping center, formerly known as Bala Cynwyd Shopping Center.

In the first phase which was completed in 2020, 87 apartments were built.

“We’re obviously happy with the way [the Delwyn] has delivered quality residential units to the Bala Cynwyd market, and we feel there’s an opportunity given the lack of lease-ability for a 1960s-era department store,” Brennan said.

“It unlocks an opportunity to deliver a Class A mixed-use project of this size in this incredible location on City Avenue.”

Read more about the new apartment building being built at the site of the former Lord & Taylor in Bala Cynwyd in the Philadelphia Business Journal.

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