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Philadelphia Commercial Real Estate

HIGH-END IN THE LAND OF LOW TECH

A 517-unit multifamily complex deep in the heart of Amish country is about to experience the sheer joy of an $8M renovation, thanks to a recent $46M acquisition by the New Jersey-based Solomon Organization. Previously known as Hershey Heritage Village, the newly rebranded Kensington Club will have luxury townhomes and apartments up to 1,850 SF, and renovations will include high-end kitchens and bathrooms, a gym, and a media room. The complex is already home to the largest swimming pool in Lancaster County. "Demand for multifamily is very strong [in the Lancaster area]," says Kislak's Robert Holland, who repped both Solomon and the seller. Robert adds that unlike office and retail, "multifamily occupancy rates in the area are running [at around] 95%."

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Related Topics: Lancaster County, Robert Holland
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