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Dranoff Takes Over Ardmore With $150M Plan

ARDMORE, PA-Dranoff Properties is taking over the redevelopment of this Philadelphia suburb with a more modest plan than its predecessor.

By Erika Morphy | Updated on March 21, 2008

ARDMORE, PA-There has been a change in plans for the development of this town in Lower Merion Township; namely the first developer selected by the area’s commissioners–Philadelphia-based EBL&S Development–has opted out of its previously proposed $300-million plan. Up at bat now is Dranoff Properties, which is negotiating contract terms with the Lower Merion Township Board of Commissioners.

Its proposed vision for the Ardmore Transit Center is a more modest $150-million concept. Dranoff became the leading contender for this project following presentations by BET Investments, Strategic Realty Investments and public input at the March 19 Economic Revitalization Committee.

Dranoff, which has extensive urban redevelopment experience, is transplanting these design features into a suburban environment, president Carl Dranoff tells GlobeSt.com, with its plan to develop a mixed-use village in Ardmore with 335 residences; 60,000 sf of retail and restaurant space; 12,000 sf of office; and approximately 650 public parking spaces and 500 private parking spaces. There are four phases, with an expected 60-month build-out. The first and second phases incorporate the new train station, a mid-rise residential structure, parking, retail shops and office space.

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