Morning Headlines: $60 Million Apartment Complex Planned in King of Prussia

Plus: Are Philly's Millennials staying put?; Real estate agent charged in fraud scheme and more!

751 Vandenburg Boulevard, King of Prussia | Image: Google Street View

751 Vandenburg Boulevard, King of Prussia | Image: Google Street View

Thanks to some new zoning changes that promotes density and mixed-use projects in the business park area, King of Prussia is looking to become more than just a place with one of the largest mall in all the land. The Philadelphia Business Journal’s Natalie Kostelni reports that  homebuilder Bentley Homes has teamed up with Cornerstone Communities out of Villanova to create a $60 million plan to bring a 320-unit residential community to 751 Vandenburg Boulevard. It is “one of the first projects that will take advantage of the new zoning,” says Kostelni.

The 20-acre site, which rests north of the mall and east of Valley Forge National Historic Park/Valley Forge Casino in the King of Prussia Business Park, will consist of four apartment buildings that will have a central courtyard with “landscaped rooms” for community enjoyment. Plans also include a cafe that will be open to the public, according to Kostelni.

Headlines: Charges in Real Estate Scheme…

From Citified: Ruh-Roh!

While an active and growing Millennial population is being heavily counted on to revive Philadelphia,  it’s not all rosy:

Millennials move out of the city as well. And, indeed, a Pew Philadelphia Research Initiative report from last year warned that Philadelphia’s Millennial surge — 100,000 more young adults between 2006 and 2012 — could be slowing down…

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