Tishman Speyer Properties is forging ahead with its plans to develop 2.1 million square feet of new space in Bala Cynwyd that would transform that section of Lower Merion over the next 25 to 30 years.
The New York real estate company envisions building 757 new apartments, 720,000 square feet of additional office space, a 168-room hotel, retail space along with a 12-acre park and amphitheater on 61 acres its owns at Bala Plaza office complex. The existing office buildings would remain and the development would occur around them.
“It’s essentially a sea of asphalt,” said Al Fuscaldo, an attorney representing Tishman during a presentation before the township on Oct. 25.
Tishman has been working on these plans for the last several years. It received tentative sketch approval in 2019 and is now going through the preliminary plan development approval phase.
The Tishman plan is not the only one under consideration that has potential to dramatically change Bala Cynwyd and lead to the infusion of what could end up being hundreds of million of dollars in investment. It would join other Montgomery County communities, such as King of Prussia and Conshohocken, which experienced unprecedented development over the last decade, completely transforming them.
*Article courtesy of Philadelphia Business Journal
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