Montgomery County real estate is seeing a rush of multifamily development despite endless red tape, writes Noah Zucker for Bisnow.
Local developers face a complex landscape of zoning reviews and pushback from residents wary of dense housing. Still, demand is strong. Suburban Philadelphia has one of the nation’s tightest rental markets, with a 95% occupancy rate. That’s enough incentive for firms like AVE by Korman Communities to push forward with new projects in Blue Bell, King of Prussia, and now Horsham.
“In Lower Montgomery, … trying to even find real estate that can support a larger development project is hard,” said BET Investments President Michael Markman.
Even transit uncertainty hasn’t slowed momentum. While SEPTA’s proposed service cuts may affect towns like Conshohocken and Ardmore, developers are betting on walkability to draw in renters. Empty nesters and professionals seeking low-maintenance living are ideal targets for such developments.
Montgomery County remains a tough place to build, but for those with patience and local knowledge, the payoff is worth it.
Read more about the housing development woes in Montgomery County and across the Philadelphia region in Bisnow
