Montgomery County is becoming the proving ground for large-scale redevelopment projects, according to Paul Schwedelson for the Philadelphia Business Journal.
Michael Markman, president of Dresher’s BET Investments, says the best redevelopment opportunities often begin with strong retail sites. “Our best apartments are apartments that are on otherwise really good retail sites,” he said.
BET has eight projects underway, led by the $300–$400 million overhaul of the 90-acre former Prudential Insurance property in Dresher. Plans call for 600 apartments, 300 stacked townhomes, 120,000 square feet of retail, a gym, office space, and potentially a 100-room hotel.
Other local sites are also being reimagined. PREIT has pursued residential development at the Plymouth Meeting Mall. West Conshohocken-based Keystone is adding 149 apartments to the mall’s footprint, and 275 more units have been approved.
The trend reflects a broader suburban shift. Aging malls and office campuses are giving way to mixed-use centers designed for walkability, lifestyle, and community growth. Elkins Park-based Abrams Realty is moving forward with a redevelopment plan for Exton Square Mall, anchored by Whole Foods.
To learn more about how developers are reshaping Montgomery County’s future, visit the Philadelphia Business Journal.
