Source, Philadelphia Business Journal, Natalie Kostelni
The development of 142 new townhouses by Toll Brothers Inc. at the Village at Valley Forge and another 270 residential units off Route 202 are among the new housing projects recently approved by Upper Merion.
In all, 528 for-sale single-family and townhouse units were signed off on and will add to a development boom in the King of Prussia area of the township that has gone unabated during the pandemic. It will also bring additional for-sale housing to the suburbs, which has, along with Philadelphia, suffered for the last several years from historically low inventory.
The new housing developments will join several other residential projects completed or in the pipeline for Upper Merion. While new single-family and townhouse projects have gotten built in recent years, much of the development in Upper Merion has involved the construction of roughly 3,000 new apartments over the last five years, according to King of Prussia District.
Horsham-based Toll Brothers (NYSE: TOL) has been among the most prolific of those residential developers in Upper Merion and that will continue with two additional projects. The new Toll project at the Village at Valley Forge will be called Overlook at Town Center and will be built upon seven acres facing Guthrie Road. The development of that parcel means two sites remain undeveloped at the Village at Valley Forge.
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