Willow Grove air base redevelopment narrowed down to four development groups

The Horsham Land Redevelopment Authority has received a final list of proposals from four development teams interested in transforming the former Willow Grove air base.

The four groups are comprised of a lead developer that has lined up a cadre of experts including architectural and engineering firms, attorneys, construction companies, commercial real estate brokerages, and even other specialized developers to help them tackle the project.

Last spring, the Horsham Land Redevelopment Authority, or HLRA, sent out a request for qualifications and later a request for proposals seeking a master developer for the shuttered air base. It totals 862 acres.

Eleven firms initially signaled they wanted to participate in the process. The list was later narrowed down to five. However, that was further whittled down when Toll Brothers Inc. withdrew and decided to join forces with another team.

The four lead developers that have submitted proposals are:

Catellus Development Corp. of California: The real estate firm has served as master developer of other former airports, military bases and industrial sites and created mixed-use communities from the properties.

Hankin Group of Exton, Pa.: The developer of Eagleview, a master-planned, mixed-use community off Route 100 in Exton.

K. Hovnanian Homes, a residential builder from New Jersey: It has teamed up with Korman Communities and Oxford Properties, which focus on multifamily development, and Keystone Property Group, which is involved in office development.

Lennar Corp., a residential builder from Florida: It now has Toll Brothers Inc. on its team.

The land redevelopment authority had anticipated naming a master developer by the end of August but that deadline changed, said Tom Ames, deputy director of the HLRA. In late July, the Navy contacted HLRA indicating it needed to do additional ground water testing and monitoring for chemicals used in foam that extinguishes fires. That testing has the potential to affect timing of when the Navy transfers the land to HLRA.

Once HLRA gets title to the ground, it will then sell the property to the master developer. The transaction would involve the redevelopment authority to use proceeds received from the sale of the land to a private developer to pay for buying the property from the Navy.

In the meantime, the HLRA board is reviewing the proposals submitted by the four groups and is hopeful it will select a master developer by year-end, Ames said.

The master developer will execute on a redevelopment proposal that would incorporate a town center, residential, office, retail, recreational and educational uses.

Source: Philadelphia Business Journal