Real Estate
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Developers Behind Town Center Project Accuse New Hanover Township of Racially Motivated Plot to Prevent People of Color from Moving Into Area
RP Wynstone and a group of landowners in New Hanover are accusing township officials of a racially motivated plot to prevent people of color from relocating to the area, writes Kenny Cooper for WHYY. The developer and the group of landowners filed a federal lawsuit against the township, seeking an unspecified amount of damages for…
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Toll Brothers Reports a Strong 2024 First Quarter in Home Sales
Toll Brothers, Inc., the nation’s leading builder of luxury homes, has had a good 2024 first quarter, according to a recent release from the homebuilder. Home sales revenues were $1.93 billion, up 10 percent, compared to FY 2023’s first quarter. Delivered homes were 1,927, up 6 percent. Net income and earnings per share were $239.6…
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First Bank House of the Week: Stunning Traditional in Villanova
A stunning traditional home on 1.49 picturesque acres with five bedrooms and four full and two half bathrooms is available for sale in Villanova. . . This residence offers the ideal combination of elegance and modern comfort. The welcoming front foyer leads to a beautiful grand staircase. A formal living room with fireplace is to…
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Philadelphia Now Among Top 10 Most Sought-After Cities For Apartment Renters
Thanks to a soar in rental activity in February, Philadelphia is now among the 10 most sought-after cities for renters, writes Ryan Mulligan for the Philadelphia Business Journal. According to the newest monthly report from RentCafe, which measures website traffic for listings in the 150 largest cities in the U.S., Philadelphia jumped 42 spots from…
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Michael Karp, Gladwyne Developer, Makes WSJ List of $100M+ Home Buyers
Michael Karp, Gladwyne developer, was noted by The Wall Street Journal as one of only a handful of U.S. luxury home purchasers who shelled out more than $100 million for a home in 2022. Katherine Clarke covered the nine-digit deed acquisition. The luxury home market regained some equilibrium in 2022, according to industry data: Eight…
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A Montgomery County Community Is Also Pennsylvania’s Most Expensive Neighborhood
For the second time in nearly a year, a neighborhood in the Philadelphia region has been declared the most expensive neighborhood in Pennsylvania, based on average home prices. Villanova, with an average home price of $3,762,000, is honored as the state’s most expensive neighborhood, writes Matt Pelkey for CashNetUSA. The same community had that title…
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Bala Cynwyd Company Has Big Plans for a Quakertown Shopping Center
Bala Cynwyd-based Velocity Venture Partners acquired The Richland Plaza shopping center in Quakertown for $16.7 million, writes Paul Schwedelson for the Philadelphia Business Journal. The 225,000-square-foot retail center, which was sold by APS Associates, is 90 percent vacant. Its new owner now plans to convert the property into a multi-tenant industrial site. The entire project…
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First Bank House of the Week: Magnificent Log Cabin in Meadowbrook
A magnificent log cabin home on 2.3 acres with five bedrooms and three full and two half bathrooms is available for sale in Meadowbrook. . . This stunning residence is authentic, tranquil, and perfectly positioned in an open but private setting. Highlights inside include the living room with its 28-foot ceiling, stone floor-to-ceiling double-sided fireplace,…
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Head of King of Prussia-based Universal Health Services Buys Waterfront Mansion in Florida for $14.05M
Billionaire Alan Miller, the founder and executive chairman of King of Prussia-based Universal Health Services, is the new owner of a stunning waterfront mansion in Florida, writes Brian Bandell for the Philadelphia Business Journal. A trust in the name of Miller paid $14.05 million for the 5,901-square-foot home in the Admirals Cove neighborhood of Jupiter.…
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Comcast President Puts His Chestnut Hill Estate for Sale For $8.495 Million
Comcast President Michael Cavanagh has listed his 13,000-square-foot Chestnut Hill estate on the market for $8.495 million, writes Ryan Mulligan for the Philadelphia Business Journal. Cavanagh and his wife, Emily, purchased the four-acre home in 2016 for $4.32 million, property records show. His estate comes with an adjacent property that can be used to build…
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5 Reasons Why 1701 Market Street is Ideal for a Residential Property
1701 Market Street in Center City is now the former headquarters of Morgan Lewis & Bockius law firm, and since the move, Alterra Property Group has been unrelenting in its pursuit to convert the office building into a residential property. According to Alterra Property Group’s vice president of acquisitions Connor Burke, the 18-story, 305,170-square-foot building…
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First Bank House of the Week: Attractive Colonial in Lower Gwynedd
An attractive stone-front colonial home on 0.98 lovely acres with five bedrooms and five full and two half bathrooms is available for sale in Lower Gwynedd. This gorgeous residence with magnetic curb appeal has been masterfully transformed into a sophisticated, inviting haven by its current owners. The home impresses right away with an entrance featuring…
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Jumpstart Germantown, A Philly Real Estate Program, Reaches $50 Million in Loans
Jumpstart Germantown, a training program designed to help new developers find their footing in the industry and create affordable housing in Philadelphia, recently reached a $50 million milestone, writes Aaron Moselle for WHYY. In late 2022, Les Hamilton was finishing up his time as a former military recruiter in Philadelphia and Maryland. Without a plan…
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Montgomery County Has A Little Something for Everyone, Where Can You Picture Yourself Living?
Main Line Today recently rounded up some of the best places to live in the Main Line area based on what characteristics draw you in the most. And just in Montgomery County, there are a lot of towns that have enticing qualities, writes Gina Lizzo for Main Line Today. If you are an extrovert, for…
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Redevelopment of Towamencin Shopping Village Could Include Target, Whole Foods
Talks are on again for the redevelopment of the long-vacant Towamencin Shopping Village, but residents remain skeptical that any real progress will be made, writes Dan Sokil for The Reporter via Main Line Times & Suburban. Developer Mark Nicoletti gave an update on the shopping center at a recent meeting announcing that Whole Foods has…
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A Mount Airy Couple Shares Why They Downsized to a Smaller Montco Abode
Many baby boomers are facing tough decisions about whether it is time to downsize to a smaller residence, writes Sandy Smith for Philadelphia Magazine. One Mount Airy couple shares what the process was like for them. Larry and Eileen DiFranco’s move from a 3,465-square-foot seven-bedroom Tudor house in East Mount Airy to a three-bedroom colonial…
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First Bank House of the Week: Georgian Brick Colonial Masterpiece in Collegeville
The epitome of luxury, the four-bedroom, five-bath Georgian Brick Colonial in Collegeville comes with many extra features, including a pool with a cascading waterfall, a patio with a fire pit, and a great room. When you enter the grand foyer, your eyes will be immediately drawn to the classic hardwood floors, arched ceilings, and solid…
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Once Contemporary Norman, Bryn Mawr Home Is Now Modernist Masterpiece
A former attractive contemporary Norman home in Bryn Mawr that has since been transformed into a true Modernist masterpiece inside a Norman shell recently hit the market, writes Sandy Smith for the Philadelphia Magazine. The inside of the 1969 home was fully remodeled by architect Steven Verner and interior designer Janelle Spilman. It is now…
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