The New York-based real estate company Tishman Speyer Properties announced plans to add 2.6 million square feet of mixed-use space in Lower Merion Township, PA.
This massive addition will include office, retail, and restaurant space along with a hotel and over 700 apartments at the Bala Plaza in Bala Cynwyd, PA.
“The plan we have unveiled is consistent with our original vision, which was to create a vibrant neighborhood that complements the adjoining communities in Lower Merion and Philadelphia,” said a Tishman Speyer Properties spokesperson.
This new vibrant space is expected to attract residents, employers, and visitors to Greater Philadelphia. Planners of Lower Merion are also considering creating new transportation connections, such as mass transit, scooters, bicycles, or pedestrian pathways.
SEPTA is working towards increasing connectivity throughout the region as well. In early 2019, the transportation company shared upcoming construction plans to extend the Norristown High Speed Line, which will connect the region’s three largest areas of employment —Center City, University City, and King of Prussia.