Main Line Real Estate
From one end to the other, Main Line commercial and multi-family residential real estate is on fire! Semi-urban residential living on the Main Line is not far behind.
From one end to the other, the Main Line is seeing significant retail and multi-family developments.
It started 2years ago in Wynnewood, at the corner of Lancaster Ave and E Wynnewood Road, initially with the demolition of several lots, and now the construction of a new 10,000 sq f retail space for the new Whole food, Starbucks, and a couple of other shops.
Ardmore, the principal economical center of the Main Line, is enjoying an increasingly vibrant retail and restaurant scene. Property developments are now transitioning to more luxury condominium such as the one on Montgomery Ave, right across Suburban Square replacing the old YMCA. A 32-unit condominium complex, over 4 stories is now under construction and expected to be on the market by late summer 2016. These luxury condos are expected to sell around $1M.
Downtown Bryn Mawr is also seeing a transformation with construction of a $20M mixed use development at 909 Lancaster Ave, which has historically been a soft spot in term of retail activity. The new development called “The Village” will include 35K sq f of retail space and 17K sqf of office space. Completion is expected in spring 2016.
As the Millennia generation is flocking Philadelphia, and trickling into the urban area of the Main Line in search of more space and better school, residential living offering walkability to shops, restaurant and public transport continue to be in high demand. Real Estate prices in that segment of the market are expected to continue to increase at above average.
By Remy De Vlieghere. www.MainLine-Properties.com