Philadelphia, PA — Federal Realty Investment Trust announced the groundbreaking of the second residential phase of Bala Cynwyd on City Avenue. This milestone marks a significant phase in the ongoing revitalization of City Avenue, reinforcing Federal Realty’s dedication to fostering growth and community enhancement in the region.
Situated on City Avenue between Belmont Ave. and Conshohocken State Rd., Bala Cynwyd on City Avenue stands as a premier destination for shopping and dining, recently reinvigorated with a comprehensive façade and streetscape renovation. The forthcoming development will include 217 residential units above 16,000 s/f of retail space on the site of the former Lord & Taylor building, further solidifying Federal Realty’s total investment in the shopping center, which is set to reach nearly $170 million upon completion.
The groundbreaking of Bala Cynwyd on City Ave. represents a pivotal moment in the ongoing evolution of City Avenue,” said Mark Brennan, VP of Regional Development at Federal Realty. “By integrating residential units and fresh retail offerings, we are revitalizing the eastern end of the shopping center, enriching the community experience and providing enhanced opportunities for shopping, dining, and socializing.”
Designed to meet LEED Gold certification standards, the residential building will boast a range of amenities, expansive open spaces, and abundant outdoor seating options. Residents can look forward to a rooftop patio offering panoramic views of Center City, an inviting interior courtyard featuring grill stations, fireplaces, pergolas, and an outdoor living room for dining and relaxation, as well as an outdoor pool and multipurpose path seamlessly connecting to City Avenue and nearby Cynwyd Heritage Trail.
“We are thrilled to celebrate the groundbreaking of another redevelopment within Federal Realty’s Philadelphia portfolio and contribute to the growth of City Ave.,” said Kari Glinski, VP of asset management at Federal Realty Investment Trust.
Architectural services for the project were provided by Bernardon in collaboration with Bohler, who oversaw civil engineering design and permitting services. Studio39 served as the landscape architect, while MSA Interiors led project interior design efforts. CBG serves as the construction partner.
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