Real Estate
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It Is Cheaper to Rent or Own a Home in the Philly Area?
Renting a median-priced three-bedroom house in the Philadelphia region is more affordable than buying one, even though rents have increased faster than home prices, writes Michaelle Bond for The Philadelphia Inquirer. A report by the national real estate data company Attom analyzed rental prices for 2023 and 2022 home prices and measured housing costs as…
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Real Estate Firm Ensemble Expands to Wayne, Purchases Two Office Buildings
Long Beach-based Ensemble Investments is buying two Wayne office buildings that total over 200,000 square feet from Prologis Inc. The deal for the property at 650 and 680 E. Swedesford Road closed Wednesday, but the real estate firm did not disclose how much it paid, writes Paul Schwedelson for the Philadelphia Business Journal. The building…
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Malvern Bank House of the Week: Historic Farmhouse Was First Schoolhouse for Parkesburg Community
A historic farmhouse set on 2.4 acres with four bedrooms and two and a half bathrooms is available for sale in Parkesburg. Built in 1795, this splendid residence was the first public schoolhouse for the local community. . . The home welcomes you with its antechamber and front-to-back hallway. Old newspaper clippings from the 1860s…
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Philadelphia Region’s Housing Market Primed for Return to Normalcy in 2023
After several years of pandemic-driven frenzy, the Philadelphia region’s housing market is primed for a return to normalcy in 2023, writes Ryan Mulligan for the Philadelphia Business Journal. Most housing experts agree that the current year will be a slower year for the market than the last one, which still had some residual heat remaining…
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Malvern Bank House of the Week: Colonial-Style Family Home with Distinguished Curb Appeal in Malvern
A colonial-style family home set on private six acres with five bedrooms and four and a half bathrooms is available for sale in Malvern. . . The residence boasts distinguished curb appeal from its wrap-around porches, which also provide stunning views of the property. The heart of the home is the large chef’s kitchen featuring…
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Here’s What to Expect From the Coatesville Redevelopment Renaissance
Coatesville is getting a redevelopment renaissance with $200 million dollars pumped into projects that will stimulate the economy. In addition, funds will also go towards infrastructure, transportation, banks, and other public utilities, writes Bill Rettew for The Daily Local News. $65 million dollars will go towards an ADA-accessible train station. It’s accessible along Fleetwood…
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Malvern Bank House of the Week: Striking ‘Gaffney House’ and Accompanying Painting Studio in Romansville
Peter Bohlin’s “Gaffney House,” a gorgeous contemporary home with three bedrooms and three full bathrooms, is available for sale in Romansville. This gorgeous 9.8-acre property is also home to Deborah Remington’s former Chester County Painting Studio Retreat & Gallery. . . The home has received numerous design awards, including a Silver Medal for Design Excellence…
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Landenberg Home Gracefully Marries Farmhouse and French Country
A custom-built 13,000-square-foot home bonds two aesthetics in holy matrimony. Owned by husband and wife, the Landenberg house incorporates both Farmhouse and French Chateau aesthetics, writes Drew Limsky for Delaware Today. “The husband wanted a traditional Pennsylvania farmhouse exterior aesthetic, whereas she was interested in more of a French country interior. So as a…
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Partnership That Includes Kennett Square Group Plans to Build 60-Room Hotel in Rehoboth Beach
One Rehoboth Avenue, a partnership between Kennett Square-based Onix Group and Grotto Pizza, is planning to build a 60-room hotel in Rehoboth Beach, writes Chris Flood for the Cape Gazette. The partnership submitted plans to Rehoboth Beach Planning Commission for a 42-foot-tall structure with four stories and a total floor area of 58,300 square feet.…
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The Main Line Dominates List of Top 100 Most Expensive Zip Codes in U.S.
While Pennsylvania failed to make the top 100 most expensive U.S. ZIP codes list, the Main Line continues to dominate in the Keystone State with seven of the ten priciest ZIP codes, writes Eliza Theiss for the Property Shark. Villanova’s 19085 remained the most expensive ZIP code in the state, as well as one of…
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Malvern Bank House of the Week: Blush-Colored Colonial in Wayne is Doll House-Like
A stunning, blush-colored Victorian colonial home on 0.34 beautiful acres with seven bedrooms and two and a half bathrooms is available for sale in Wayne. Built in 1890, this residence combines established history and modern amenities into beauty that looks like a doll house. . . It welcomes you with a 37-foot front porch…
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NYSE Suspends Trading in PREIT Shares, Starts Stock Delisting Process
Pennsylvania Real Estate Investment Trust, the owner of Plymouth Meeting Mall and Willow Grove Park Mall, is being booted off the New York Stock Exchange, writes Rich Bockmann for The Real Deal. On Thursday, the exchange announced it would suspend trading of the struggling mall operator’s shares immediately and begin the process of delisting its…
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Philly Suburbs Among Nation’s Hottest Residential Rental Markets in 2022
Suburban Philadelphia is one of 2022’s hottest residential rental markets in the country thanks to the high renewal rates of leases, a growing prospective renters’ pool, and relatively few apartment buildings being constructed, writes Ryan Mulligan for the Philadelphia Business Journal. A new report from RentCafe places suburban Philadelphia as the 12th-most-competitive rental market in…
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Malvern-Based Acme Sold to Kroger for $20 Billion
The owner of Malvern-based grocery chain, Acme, is selling its company to Kroger for $20 billion. Kroger will be accruing Acme-owner Albertsons’ $5 billion debt in the merger, writes Joseph DiStefano for The Philadelphia Inquirer. This merger combines the U.S.’s second- and third-largest grocers, just behind Walmart. Although grocery store workers may have traded over…
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Temple University President, Henderson Grad Will Be First in Decades to Move to School’s North Philly Neighborhood
Temple University President Jason Wingard, a Henderson High School graduate who grew up in West Chester, plans to move from his current Chestnut Hill home to the school’s North Philadelphia neighborhood to be closer to the campus and its surrounding community, writes Susan Snyder for The Philadelphia Inquirer. This will make him the first Temple…
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Idea for Coatesville Indoor Cycling Arena Could Be Hub for Olympic Training
A 245,000 square foot arena for indoor bike racing, or velodrome, could make Coatesville a track cycling destination, writes Michael Tanenbaum for the PhillyVoice. Developers have hit the ground running on this $79 million project, receiving $9 million of state funding for land development. The arena, called the National Sports and Events Center, will…
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Malvern Bank House of the Week: Intriguing Abode in South Coventry with Futuristic Vibes
An intriguing home with four bedrooms and five bathrooms is available for sale in South Coventry Township in the Owen J. Roberts School District. . . This one-of-a-kind, 8.6-acre equestrian paradise offers privacy and tranquility, while being close to major retailers, wineries, cafes, and preserves, among many other amenities. The amazing abode is filled with…
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Philly-Area Home Sales Drop to Lowest Level Since 2015
Housing sales are cooling quickly throughout the Philadelphia region, writes Ryan Mulligan for Philadelphia Business Journal. The seven counties in the Philadelphia metro area saw total closed sales at 30 percent lower levels in November than they were a year ago, according to Bright MLS. The slowdown in home sales comes from the national market…
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