The Bridge at Collegeville, one of Montco’s largest office campuses, just saw its tax burden shrink dramatically, writes Paul Schedelson for the Philadelphia Business Journal.
After two rounds of appeals, the assessed value of the 340-acre site dropped by more than 75 percent. This cut the owners’ property tax bill from $7.8 million to $1.9 million for 2025.
The campus is anchored by global giants Pfizer and Dow and spans 1.9 million square feet across 14 interconnected buildings. It has long been a major employment hub in Montco, with Dow renewing its 800,000-square-foot lease in January 2024.
Owners David Werner Real Estate Investments and GreenBarn Investment Group, bought the property in 2023 for $135 million. Property records now list the assessment at $45.4 million, down from $184.3 million.
Even with the lower assessment, the campus’s adjusted market value still exceeds its recent purchase price, coming in at $147.6 million under the county’s common level ratio calculation.
The reduced tax bill comes as the owners prepare to expand and modernize the site. Plans include adding up to 1.4 million square feet of lab, office, and manufacturing space, along with new amenities like a fitness center, golf simulator, and pickleball courts.
To learn more about the reassessment and redevelopment plans, visit the Philadelphia Business Journal.
