Real Estate
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Wealthiest ZIP Codes Cluster in Chester County, Philadelphia Region
Wealth in the Philadelphia region is still concentrated around Center City, though several Chester County ZIP codes earning top ten spots in specific categories, writes Todd Romero for the Philadelphia Business Journal. The latest ranking of the wealthiest ZIP codes is based on several factors, including per-capita income, home values, equity, savings, poverty rates, and…
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Tavern in Quakertown, Standing Since Before Nation’s Founding, Set for Auction
A building in Quakertown, currently home to The Raven’s Nest and once housing a tavern that predates the nation, is headed to the auction block on Sept. 23, writes Amy Unger for WFMZ 69 News. The stone and stucco structure, built in 1710, has served as a tavern since 1750. The current owner, Albert Pray,…
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Former St. Gabriel’s Hall Site in Lower Providence Sells for $14.5M
A landmark Montgomery County property has changed hands, writes Ryan Mulligan for the Philadelphia Business Journal. The 60-acre campus once home to St. Gabriel’s Hall in Lower Providence, has been sold to Audubon Land Development for $14.5 million, according to county records. The Archdiocese of Philadelphia closed St. Gabriel’s in 2020, ending more than 120…
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Philadelphia’s First of Its Kind Pilot Program, Which Gives Cash to Struggling Renters, Proves Effective
The PHLHousing+ program, a first of its kind in the nation, which gives no-strings-attached cash to struggling renters, is proving to be effective, writes Michaelle Bond for The Philadelphia Inquirer. The program was launched in the fall of 2022. Since then, Philadelphia has been giving cash to 301 households randomly selected from wait lists for…
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House of the Week: Charming Colonial in Chestnut Hill
A charming colonial home set on a lovely 0.46-acre lot with four bedrooms and three bathrooms is available for sale in Chestnut Hill. This elegant residence offers a rare combination of timeless charm and modern comfort in a serene, secluded setting. Its many refined details include wide-plank hardwood floors, high ceilings, abundant natural light, and…
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Greystar Plans 205 Apartments at Former King of Prussia Office Site
National apartment developer, Greystar, is eyeing another major project in King of Prussia, writes Ryan Mulligan for the Philadelphia Business Journal. The company has filed plans to demolish an 85,000-square-foot aging office building at 720 Vandenburg Road. In its place, they will construct a six-story, 205-unit apartment complex. The U-shaped development would include a central…
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Cardone Industries 1.3 Million-Square-Foot Northeast Philadelphia Headquarters Available for Lease
NorthPoint Development has listed Cardone Industries’ former 1.3 million-square-foot headquarters in Northeast Philadelphia as being available for lease, writes Ryan Mulligan for the Philadelphia Business Journal. The move indicates that the storied manufacturer will exit the region just two years after it was acquired by Michigan-based First Brands Group. The fully vacant building was acquired…
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111-Acre Office Park with Four Buildings Up for Sale in Malvern
The Malvern Green complex, an 111-acre office park with four buildings totaling 759,901 square feet, was recently listed for sale in Malvern, writes Paul Schwedelson for the Philadelphia Business Journal. The four buildings at 51 Valley Stream Parkway, three office buildings along with a data center, are currently occupied by Oracle, with the property currently…
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Dallas-Based Development Firm Acquires Northeast Philadelphia Property, Plans New $25M Warehouse Project
Crow Holdings Development has acquired a property in Northeast Philadelphia, where it is planning to build a new 103,500-square-foot warehouse at the site, writes Paul Schwedelson for the Philadelphia Business Journal. The Dallas-based development firm paid $7 million to James D. Morrissey Inc., a general contracting firm, for the 10-acre property. The project to build…
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285-Unit Development Project on Washington Avenue Finally Gets Greenlit
After over a year-and-a-half of public deliberations, the Philadelphia Zoning Board has approved a project that would bring 285 new units to Washington Avenue, writes Ryan Mulligan for the Philadelphia Business Journal. The new project will be located at 1601 Washington Avenue at a corridor that is largely zoned for industrial use. However, the area…
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House of the Week: Picturesque Contemporary in Mount Airy
A picturesque contemporary home set on 0.34 lovely acres with seven bedrooms and six and a half bathrooms is available for sale in Mount Airy. This exquisite residence seamlessly blends historic charm with modern sophistication in a complete restoration, and has vast curb appeal. . . Thoughtful details include wainscotting, hardwood floors, sun-filled interiors, and…
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Toll Brothers Temporarily Stops Sales at $2M Lyondale Meadows Homes in Newtown
Toll Brothers temporarily halted sales at its 45-home Lyondale Meadows community in Newtown, with prices starting at $1.6 million, after demand was overwhelming, writes Paul Schwedelson for the Philadelphia Business Journal. The Fort Washington-based luxury homebuilder opened sales earlier this month, and in just one week received 21 deposits, with buyers choosing options that raised…
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Chester County Home to Four of Region’s 15 Most Expensive Housing Markets
Chester County is home to four towns that are ranked among the 15 most expensive places to buy a home in Greater Philadelphia, according to a recently released ranking by Stacker. To compile the list, Stacker used data from Zillow, which compared a total of 235 cities and towns. Devon tops the list as the…
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Residents Say No to Affordable Housing Shortage Solution in Bucks County
Affordable housing shortage in Bucks County could be addressed by denser housing, but town residents oppose it, and town officials have not been approving such projects, writes Jess Rohan for the Bucks County Courier Times. The county spans around 400,000 acres, with over 40 percent already developed. By 2023, roughly 23 percent, or over 92,000…
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Conshohocken’s Morgan Properties Expands Again With $354M Acquisition
Conshohocken’s Morgan Properties, the third-largest apartment owner in the country, is growing again, writes Leslie Shaver for Multifamily Dive. Last week, the company announced that it will acquire Toronto-based Dream Residential REIT in a deal valued at roughly $354 million. The purchase adds 3,300 apartment units across 15 properties in Texas, Ohio, Kentucky, and Oklahoma…
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House of the Week: Stunning New Build Traditional in Wissahickon
A stunning new build traditional home on a lovely 1,742-square-foot lot with four bedrooms and three full and two half bathrooms is available for sale in Wissahickon. This stunning and thoughtfully designed residence exemplifies modern luxury. Refined details include European oak wide-plank flooring, soaring ceilings, Pella windows, and sophisticated lighting enhancing the warm, minimalistic interiors.…
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What You Get for $350,000 in Philadelphia, Bucks, Montgomery, Chester and Delaware County
What does $350,000 get you across the Delaware Valley? The answer changes depending on where you look. In Bristol, it’s a mid-century ranch reworked for one-level living. In Jeffersonville, a townhome with fresh updates and a bit more privacy. East Oak Lane offers a twin with hardwood floors and outdoor space, while Coatesville’s Valley Spring…
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Philadelphia Region Sees Significant Jump in Required Income Needed to Afford Typical Home Over Last Six Years
In just six years, the income buyers need in the Philadelphia region to afford a typical home has increased by almost 70 percent, write Joanne Drilling and Ryan Mulligan for the Philadelphia Business Journal. Recent Realtor.com data revealed that today, Americans need to earn around $114,000 per year to afford a median-priced home, which is…
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