History

AVE doubles its portfolio of communities.

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.

AVE becomes bicoastal with the acquisition of AVE Emeryville in the East Bay Area of San Francisco.

AVE Florham Park opens and becomes the new standard for luxury and service in the region.

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

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

• 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

Korman Communities develop and acquire properties in New York City, New Jersey, and Delaware.
   

In 1964, Steven pioneers furnished apartments with flexible leases at The Plaza in Center City Philadelphia.

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.

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.

Hyman launches Frankford Supply, a building materials company, to ensure easy access to quality materials.

HKI builds its first apartment development, Leiper Street Apartments.

Hyman and Alfred form separate companies. Hyman's sons Max and Sam join the business, and they become Hyman Korman Inc.

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.

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

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

The initial leg of Roosevelt Boulevard from Broad Street in Philadelphia was opened to traffic right through Hamilton Farm.

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.

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.

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.

Hyman emigrates to America.

Hyman Korman spends his teenage years working alongside his uncles – successful railway builders in Eastern Europe.

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.