Higher density development, improved retail planned for City Avenue corridor

Higher density development, improved retail planned for City Avenue corridor

2024-03-20T09:56:52-04:00March 20th, 2024|Commercial Real Estate, Economy, Philadelphia|

Writer: Andrea Teran

higher density development, improved retail planned for City Avenue corridor

2 min read March 2024 — In an effort to rejuvenate the City Avenue corridor, local business leaders, in collaboration with the City Avenue District, have laid out a comprehensive master plan aimed at transforming the district into a more walkable urban space. 

The plan, situated along a 3-mile stretch on the border between Philadelphia and Lower Merion Township, envisions a diverse mix of retail, dining, and entertainment options, sustained by the addition of hundreds of new apartments, to create a dynamic district that caters to the evolving preferences of both residents and visitors.

“I think it’s something the district has been missing. It’s such a great opportunity,” said Bryan Fenstermaker, CEO of the City Avenue District, as cited by the Philadelphia Business Journal. “There’s nothing better than being able to walk from store to store or meeting people in an outside space. You can have a different experience than [if] I parked my car and I ran in and ran out and got back in traffic.”

In 2023, City Avenue District added 25 new businesses, and its grant-funded initiatives helped to add 11 upgraded e-bikes. The district has also seen a nearly 25% increase in total annual visits between 2020 and 2023.

Retail brokerage MSC and consultant RCLCO’s analysis projects a substantial increase in retail demand, expected to capture $462 million in retail expenditures, anticipating a need for 950,700 square feet of retail space by 2032, a notable rise from 2022’s 905,100 square feet. 

The master plan categorizes the district into three primary zones, each tailored to attract specific types of retail and entertainment offerings. Notably, the plan identifies areas along City Avenue for large footprint retailers and discount grocery stores, while envisioning boutique fitness centers and upscale entertainment venues along Presidential Boulevard and Saint Asaphs Road. Bala Avenue is earmarked for a transformation into a neighborhood-centric “Main Street,” complete with coffee shops and full-service restaurants. 

Several projects are already underway or in the planning stages, signaling the beginning of City Avenue’s transformation. These include Federal Realty Investment Trust’s redevelopment of the Bala Cynwyd Shopping Center, now rebranded as “Bala Cynwyd on City Ave,” and the construction of the One Belmont project by Keystone Development and Investment, which will feature 270 apartments and a grocery store. Additionally, the Bala Plaza’s recent acquisition by FLD Group and the Adjmi family for $185 million highlights the momentum building towards realizing the master plan’s vision.

Complementing private sector developments, public infrastructure projects are also in the pipeline to support the area’s revitalization. The Pennsylvania Department of Transportation (PennDOT) has announced plans to reconstruct the Belmont Avenue and St. Asaphs Road Intersection into a two-lane roundabout, aimed at improving traffic flow and safety. Moreover, the construction of a pedestrian bridge by St. Joseph’s University on City Avenue is set to enhance pedestrian access and connectivity across the corridor.

For more information visit: 

https://cityave.org/

https://www.penndot.pa.gov/

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