Despite economic headwinds and rising development costs, Bozzuto is doubling down on the strength of Montgomery County’s rental market, writes Paul Schwedelson for the Philadelphia Business Journal.
The real estate firm is preparing to open Coulter Place, a 131-unit luxury apartment community next to Ardmore’s Suburban Square, this fall.
Pete Sikora, senior vice president at Bozzuto, said the timing is ideal. “There’s plenty of demand out there for this location, this quality product type,” he noted. Sikora’s confidence is buoyed by the recent $96.5 million sale of Ember at Berwyn (now The Point at Berwyn). Quick leasing validated investor appetite for quality suburban multifamily assets.
Coulter Place, located at 119 Coulter Ave., will offer more than just housing. It’s set to include 20,000 square feet of retail space, with tenants like New Balance, Rhone, and Sugared + Bronzed. The project is a joint venture with Kimco Realty and plays off the success of nearby Suburban Square.
While construction challenges and uncertainty about tariffs loom large, Sikora says Bozzuto “dodged a bullet” by starting the project early. Now, with suburban rental demand at an all-time high, Bozzuto is actively scouting more opportunities in Montgomery County.
To learn more about Bozzuto’s Coulter Place and the strength of Montco’s rental market, visit the Philadelphia Business Journal.
