KING OF PRUSSIA, PA—Realen Properties of Berwyn, PA reports it plans to break ground later this summer on the first phase of its Village at Valley Forge development here.
The firm intends to begin working on a residential component of the planned $1.2-billion town center, mixed-use development to be built on a 132-acre site off North Gulph Road. Dennis Maloomian, president of Realen Properties, says the firm will break ground on a 363-unit apartment complex located at what will be the Main Street of the site's town center. The complex will sit at the corner of Guthrie Road and Swedesford Road, according to the Philadelphia Business Journal.
Realen, which is developing The Village at Valley Forge in a joint venture with Northwestern Mutual, did not disclose the first phase project cost. On the company's website, Realen says the overall development will entail 1 million square feet of retail, entertainment and hotel space and up to 3,000 townhomes, apartments and condominiums.
The residential building will be designed as a “wrap” or “Texas donut,” with the apartment building wrapped around a parking structure that is virtually hidden from view. See story in the Philadelphia Business Journal.
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