Another mixed-use development is gaining traction in Ambler, according to Paul Shwedelson for The Philadelphia Business Journal.
SEPTA has recommended Plymouth Meeting-based Korman Communities and Benchmark Real Estate to develop a 3.4-acre surface parking lot it owns next to the Ambler Regional Rail station. The transit agency’s board is expected to authorize a development agreement this week.
The proposed project could include up to 170 multifamily units along with ground-floor retail. It would transform part of the commuter parking lot into a transit-oriented community designed to boost ridership and long-term revenue.
SEPTA would retain ownership of the land under a 99-year ground lease, with an initial annual rent of $402,500, increasing by 3% annually.
SEPTA received seven proposals and determined the Korman-Benchmark bid offered the best overall value. The agency has emphasized walkability, street trees, and strong connectivity to the train station. At least 201 commuter parking spaces would remain.
This project is distinct from the nearby proposal by Dresher-based BET Investments, which is seeking approvals for a separate mixed-use development with 231 residential units and office space.
With multiple projects converging near the train station, Ambler continues to position itself as a hub for transit-oriented growth in Montgomery County.
To learn more about the proposed big changes coming to Ambler, visit The Philadelphia Business Journal.
