Transposed from Philadelphia Business Journal, written by Paul Schwedelson
Radnor Property Group is set to begin construction on a mixed-use development in Ardmore that will add hundreds of apartments to an area drawing attention from multifamily developers looking to build near transit hubs.
The $187 million, 270-unit development at 100 W. Lancaster Ave. is planned to have about 30,000 square feet of ground-floor retail space and 480 garage parking spaces, including 108 for public use by retail customers. The project is named The Piazza at Ardmore after property owners Daniel Piazza and his family.
Radnor Property Group CEO David Yeager said he and Daniel Piazza view the project as an opportunity to “create a gateway” into downtown Ardmore.
The development would be along Lancaster Avenue between Greenfield and Ardmore avenues. It’s a quarter-mile northwest of Suburban Square, Ardmore Music Hall and the Ardmore train station. A recently drafted Montgomery County comprehensive plan has called for more high-density residential developments near public transit.
“We know the vitality of Suburban Square,” Yeager said. “In many respects it will be an extension of a lot of the vitality you see there and downtown.”
With construction beginning in January, The Piazza at Ardmore could be completed by early 2028.
Piazza secured $140 million in financing for the project from New York-based Affinius Capital, Yeager said.
“Ardmore is such a dynamic place,” he said. “Easy access to the city with mass transportation. There’s a lot of entertainment venues to attract the younger demographic, but also young families and empty-nesters.”
Yeager declined to say how much rent would be for the apartments but expects rates to be similar to Bozzuto and Kimco Realty’s 131-unit Coulter Place development at 115 Coulter Ave. next to Suburban Square. Coulter Place is set to open in late January with one-bedroom units starting at $2,875, according to its website.
The Piazza at Ardmore will replace an Acura dealership and a former IHOP location, which will be demolished. Yeager said the Acura dealership, owned by the Piazza family, is expected to be relocated.
As part of the development, Radnor Property Group is adding public spaces along the sidewalk, signalization improvements at intersections and a median to Lancaster Avenue.
“It was very important to the township that we invigorated the pedestrian experience,” Yeager said. “It’s such an important commercial district to the town of Ardmore. That was really important to the township that we maintain that pedestrian and retail experience throughout Lancaster Avenue.”
Of the development’s 270 units, roughly 57% will be one-bedroom apartments, 35% two-bedroom and 8% three-bedroom. The residential portion of the building is planned to have a community lounge, coworking space, fitness center, outdoor pool and 19,000 square feet of outdoor courtyard space.
The ground-floor retail could include a mix of food and beverage, health and wellness, fashion or service tenants, and a portion of the parking garage will be underground.
In addition to The Piazza at Ardmore and Coulter Place, recent additions to the Ardmore residential market include Dranoff Properties’ 110-unit One Ardmore, developed in 2019 and later sold to AIMCO.
Radnor Property Group is working on the project with IMC Construction, JKRP Architects, Bohler Engineering, landscape architect Stuart and Associates and engineering consultant IMEG.
Radnor Property Group’s other regional projects include The Hamilton, a 576-unit mixed-use development at 15th and Hamilton streets in Philadelphia, 276 units at 3737 Chestnut St. and Vue32, a 164-unit development at 3201 Race St. in University City.
Read the original Philadelphia Business Journal article online in the Commercial Real Estate section: https://www.bizjournals.com/philadelphia/news/2025/12/29/piazza-ardmore-development-radnor.html
