We are seeing a lot of urban town center projects in our area. There are two planned developments that i can think of right now, Worthington Urban town Center in Malvern, there was an article in the Philadephia Inquirer this week that identifies Wegmans as the first major retail tenant to commit to the development. This site was originally the Worthington Steel Plant and is planned to become a 1.6 million sq feet mixed use development, to include 740,000 sq feet of restaurants, retail and other uses. almost 200,000 sq ft of office space and also 753 multifamily residences.
Another similar development is planned for King of Prussia on the old Valley Forge golf course next to Home Depot's current location.
These urban town center developments are popular as residents like them, many having offices in the development, they are often able to walk to cinemas and restaurants or even to supermarkets. We have seen a couple of these, one in Florida in West Palm Beach and another where one of our sons live north of Charlotte. They are attractive and they work if the right mix of retail, coffee shops and restaurants is obtained.
What do you think of these developments? Let us know!
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