Eli Kahn is embarking on roughly $50 million in development in and around the new Pennsylvania Turnpike interchange in Malvern, Pa.
E. Kahn Development along with Gulph Creek Hotels plans to move forward next year on a 128-room Marriott Residence Inn at the corner of Route 29 and General Warren Boulevard. In addition, Kahn will construct 25,000 square feet of retail space.
“There’s very little in services up there,” Kahn said. “We own the Commons at Great Valley, Endo Pharmaceuticals and Atwater Corporate Center are across the street...you have all of these corporate people with no place to go, no dry cleaners, no restaurants at that end of Great Valley.”
Just around the corner, Kahn expects to break ground on 78 townhouses at Route 29 and Phoenixville Pike by the end of the year.
Kahn has owned the land at that corner of Great Valley for years but had been waiting for the completion of the new interchange before seeking to develop it. The interchange, which had long been planned, was finally completed last November. Endo Pharmaceuticals opened up its new headquarters at the beginning of the year and largely moved there because of the new slip ramp. The interchange has brought a renewed emphasis on that end of Great Valley.
Source: Philadelphia Business Journal
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