Morning Headlines: $60 Million Apartment Complex Planned in King of Prussia
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.
- $60M 320-apartment complex planned for King of Prussia [Philadelphia Business Journal]
Headlines: Charges in Real Estate Scheme…
- Bucks real estate investor charged in mortgage fraud scheme [Philadelphia Business Journal]
- Apartments Will Rise on Columbia Ave. Near Girard [Naked Philly]
- Landscape plan calls for new walkways [The Temple News]
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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