Philadelphia/ Real Estate & Development
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Published on June 06, 2024
Revitalization Efforts Surge as Phase 2 of Bala Cynwyd Development on City Avenue CommencesSource: Google Street View

Montgomery County is poised to offer residents and visitors a revitalized City Avenue experience as Phase 2 of the Bala Cynwyd development started with shovels hitting the dirt. The area on City Avenue between Belmont Avenue and Conshohocken State Road is set for a diverse mix of retail, dining, and residential opportunities. A notable addition in the area will be transforming the former Lord + Taylor site into a fresh complex with over 200 apartments, representatives confirmed Wednesday.

The endeavor marks a continuation of a significant commitment by Federal Realty to enhance the neighborhood. With an estimated $170 million flowing into the project, commercial and living spaces are expected to be both modern and desirable. According to a CBS News Philadelphia report, Lower Merion Township's 9th Ward Commissioner Louis Rossman commented, "This is incredible. We've been passing an empty store that says, 'For lease.' It's now torn down. It's going to be rebuilt to the level and the enjoyment that people had in this neighborhood years ago."

Further details indicate that the project will feature amenities that enrich urban life. Among these will be a rooftop patio, an interior courtyard with grills, and a pool, seamlessly connecting residents to the adjacent Cynwyd Heritage Trail. Moreover, the project includes a promise of a half-acre of accessible public space, underscoring an urban design mindful of community and environmental well-being.

Amid community-centered advances, project visionaries emphasize the potential economic impacts of such a development. "It's about building a future - a future where City Avenue is a premier destination, attracting highly sought-after retail dining and entertainment offerings. Development will be a catalyst for economic growth for businesses, jobs and enhancing the quality of life for visitors and the workforce," Bryan Fenstermaker, the President of the City Ave Business Improvement District, elaborated by 6abc.

With an eye on completion in 2026, the strategy appears to be a successful start. The first phase, the Delwyn apartment building further up City Avenue, has reported a robust 97% occupancy rate. This thriving occupancy signals positive anticipation for the expansion endeavors. Both residents and officials are watching closely as the skeleton of the old Lord & Taylor yields to a vision of community and commerce harmonizing along the storied avenue.