History



AVE is a brand of Korman Communities, a fourth-generation, family-owned-and-operated real estate company.

The Korman family pioneered the corporate housing industry in the 1960s and have been innovating the hospitality approach to residential real estate for decades.

Generation four

2017

AVE doubles its portfolio of communities.

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The brand celebrates the Grand Opening of AVE Florham Park in New Jersey, the most state-of-the-art rental community on the East Coast boasting over 65,000 square feet of indoor and outdoor amenity space. They expand their portfolio of communities in the Greater Philadelphia Area and acquire a second property in the East Bay Area of San Francisco, AVE Walnut Creek.

2016

AVE becomes bicoastal with the acquisition of AVE Emeryville in the East Bay Area of San Francisco.
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AVE Florham Park opens and becomes the new standard for luxury and service in the region.
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2011

Korman Communities acquires the Benjamin Franklin Hotel in Center City Philadelphia. Due to its historical significance, it operates as "The Franklin Residences."
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2008

Now CEO, Larry Korman announces Korman Communities three exciting residential brands

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  • aka, a portfolio of urban, luxury extended-stay hotel residences in metro areas
  • AVE, a collection of suburban, mid-rise and garden-style communities offering furnished suites and apartments
  • ARK, the original portfolio of garden-style apartment communities in Philadelphia

Generation three

2000s

Korman Communities develop and acquire properties in New York City, New Jersey, and Delaware.
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1990s
1990s-kc_linkedin120x72.jpg Steven and his sons Larry and Brad form Korman Communities with the dream of expanding outside Philadelphia.
1980s
Korman Company exits the residential business to focus on its portfolio of 23 apartment properties. Steven's sons Larry and Brad join the family business. 1980s-levick-st.jpg
Larry introduces the idea of marketing all furnished apartments as KormanSuites. 1980s-History3-Steve-ARK-BlueBell-Landscaping.jpg
Korman pioneers a hospitality approach to apartment living, offering both furnished and apartment residents amenities such as pools, weekday club breakfast, housekeeping service, and social events. 1980s-KorMal05.jpg
1964-1980

In 1964, Steven pioneers furnished apartments with flexible leases at The Plaza in Center City Philadelphia.
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He begins implementing this program at all Korman properties. He also introduces features like washers and dryers and wall-to-wall carpeting, which are apartment standards today.

Generation two

1960

Now Korman Company, Hyman and his sons develop Neshaminy Mall, the largest single-story, indoor-enclosed mall in the Northeast. Hyman's grandson Steven joins the family business.
Neshaminy Mall - photo from 1963

1958

Hyman launches Frankford Supply, a building materials company, to ensure easy access to quality materials.
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1940
Apartment Center HKI begins development on its first apartment complex, Apartment Center.
1938

HKI builds its first apartment development, Leiper Street Apartments.
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Generation one

1923-1934

Hyman and Alfred form separate companies. Hyman's sons Max and Sam join the business, and they become Hyman Korman Inc.
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They build single-family homes, twin homes, row homes, and community developments with homes, apartments, and stores. By 1934, the company builds more than 500 homes, which was a very sizable percentage of the total homes in all Philadelphia.

1918-1922

Hyman continues purchasing farms along the future route of expanding Philadelphia on Oxford Avenue.

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He leaves his job at the clothing factory and partners with Alfred P. Orleans real estate company to begin building homes in Northeast Philadelphia.

1914-1917

The initial leg of Roosevelt Boulevard from Broad Street in Philadelphia was opened to traffic right through Hamilton Farm.
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By 1916, the boulevard from Broad Street was extended all the way to Pennypack Circle, a 7.5 mile stretch. Hyman foresees the expansion and development of Philadelphia. He purchases Hamilton Farm from his in-laws.

1905

Hyman and his wife, Yetta, move to the Philadelphia area to Hamilton Farm, which is owned by her parents. Hyman works in Center City as a tailor in the garment industry.
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He rents an apartment where he resides during the week and spends his weekends on the farm with his family. Yetta supplements the family income by taking boarders.

1904

Hyman emigrates to America.
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1898

Hyman Korman spends his teenage years working alongside his uncles – successful railway builders in Eastern Europe.
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To expedite the construction of the railway across Russia, they provide temporary housing for their workers – log cabins that were easily disassembled and reassembled as they traveled across the country.

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