Plans to construct over 400 apartments near City Avenue in Bala Cynwyd have advanced with Houston developer Hanover’s recent $21.3 million purchase of the 8.5-acre site at 111 Presidential Boulevard, writes Paul Schwedelson for the Philadelphia Business Journal.
Demolition of Bala Pointe Office Center, located on a site once owned by Amerimar Realty, was completed this fall.
Hanover’s preliminary land development plan included a five-story, 425-unit apartment building with a ground-floor commercial space and a 676-spot parking garage. It was approved by Lower Merion Township Board of Commissioners in September 2022.
Drafts of the project were presented to Lower Merion Township. Plans include a walkway that connects two sides of the building. The plan also featured public gathering space and streetscape improvements.
The site is within the City Avenue District. The business improvement district has been advocating for more connectivity between properties along City Avenue.
“What we like about the project is it’s going to start connecting the dots,” said City Avenue District CEO Bryan Fenstermaker. “We’re trying to create this walkable community with connectivity. This will be that next piece on that side of the street.”
Read more about the planned development for the Bala Cynwyd apartments in the Philadelphia Business Journal.
