Phildadelphia Suburban Development Corporation owns majority of the land in this area that is currently vacant. And although they threatened to keep the land a “cornfield” while in litigation with the township over eminent domain, “Development” is in their name.
They have recently started construction of the first phase of the Towamencin
Town Square which will consist of a hotel, restaurants, retails shops, office space, an assisted living center, and 180 high-end residential rentals. They started moving ground for the infastructure and recently began construction of the first apartment building.
My friend John Anderson with Cornerstone Consulting, a local engineering firm, designed the plan along with PSDC to incorporate walking and bike trails and preserve open space, all while meeting the strict requirements for parking and traffic flow as per the Overlay District Ordinance.
View the Site Plan Here – This PDF will show you the layout of the entire plan including the proposed hotel, restaurants, shops and other features. It is a large file so be patient, it’s worth the look! Then click on the picture below to view the artist’s rendition of the finished product.
This takes care of one side of the bridge, and although I know what is being planned for the other side of the bridge, I will keep that one secret for another post. (If you really want to know, you can leave a comment and I’ll tell you)
In any case, there is one thing that I want to point out. These folks spents a ton of money on demographics in order to come up with this design. The first thing they are building….apartments. They see that when the market turns, the rental market will take hold as interest rates and property values increase at the same time. A dangerous time for buyers! Therefore, rental properties will be in demand. If you are a buyer, this is one more instance where a large company sees the writing on the wall and you should really think about getting into this market sooner than later. If your 401K, IRA, or other investments recently took a crap, you may want to investigate real estate as an option.
In real estate, there is one constant. The next height of the market will be higher than the previous high, and the next bottom of the market will not be lower than the previous bottom. What do you think?