The Exton-based Hankin Group has been named one of five finalists competing for the opportunity to redevelop the 862-acre former Willow Grove Naval Air Station.

The Hankin Group stood out among the 11 initial applicants based on its “organizational structure and key personnel assigned to the project, experience on similar projects and past performance of the firms on each team,” the Philadelphia Business Journal reported.

The next step is a detailed plan for the space that revolves around the Horsham Land Redevelopment Authority’s community-driven vision for a new town center that incorporates residential development with offices, retail stores, recreational facilities and educational infrastructure.

Other local developers considered for the project included LCOR of Berwyn, O’Neill Properties Group of King of Prussia and Realen Properties of Berwyn.

Read more about selection of finalists here.