Tuesday, May 5, 2015

YMCA property in Ardmore trades hands



Developer C.F. Holloway & Co. has bought the former Main Line YMCA property in Ardmore, Pa., for $6 million.

The seller was a venture between Cornerstone Communities and Provco Group of Villanova, Pa. That partnership had acquired the site two years ago from the Main Line YMCA for $2.6 million and took it through the approval process, said David Della Porta, who runs Cornerstone Communities.


Cornerstone and Provco's plans had involved tearing down the existing 25,000-square-foot structure on 1.8 acres at the corner of Montgomery Avenue and St. George’s Road and constructing a $20 million, 32-unit condominium complex. Approvals are in place for a four-story building.

It is unknown whether the new owner will move forward with those plans. Cas Holloway III, who operates C.F. Holloway of Wayne, Pa., couldn’t be reached for comment.

The developer has been prolific along the Main Line. In addition to constructing single-family houses, Holloway has successfully delved into multifamily development and constructed several condominium projects in Wayne.

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