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

2021

AVE acquires a brand new, state-of-the-art residential community in North Austin and rebrands it as AVE Austin North Lamar. This is an exciting, new market for AVE with a lot of opportunity, as the booming Central Texas city has high demand for flexible accommodations due to job growth.
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2020

AVE opens the doors to a mid-rise, ground-up construction in Blue Bell, Pennsylvania boasting 270 furnished and luxury apartments, nearly 50,000 square feet of innovative business and resort amenity space, and a 24/7 service team. The delivery serves a market’s demand for spacious, thoughtfully-designed apartments for local discerning renters and downsizers, as well as comfortable, fully furnished apartments for flexible housing needs.

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2018

 

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AVE opens the doors to a mid-rise, ground-up construction in King of Prussia, Pennsylvania boasting 274 furnished and luxury apartments, nearly 50,000 square feet of innovative business and resort amenity space, and a 24/7 service team. Its spectacular elevation at the corner of South Goddard and North Gulph roads is within walking distance of Suburban Philadelphia’s, award-winning, lifestyle center King of Prussia Town Center and down the street from the largest mall in America, King of Prussia Mall. This prime location at the junction of the region’s four main highways, just 20 miles from Philadelphia, provides flexible housing options for the area’s professionals and extended-stay visitors.

2017

AVE Becomes Bicoastal​
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AVE enters the East Bay Area of San Francisco, taking over management of two vibrant rental communities in Emeryville and Walnut Creek, California. This is exciting growth for AVE, as it is now able to provide its furnished apartment offering to clients on the West Coast, who are craving the flexibility and inventory.
 

AVE Redefines the Rental Industry​
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AVE partners with the Rockefeller Group on a ground-up construction in Florham Park, New Jersey. In 2017, the duo opens the doors to a brand new, rental community that is unprecedented in the industry. The state-of-the-art, mid-rise property boasts 256 furnished and luxury apartments featuring premium finishes and fixtures, over 65,000 square feet of indoor and outdoor resort and business amenity space, and a dedicated service team on site 24/7. The delivery serves a market’s decades of pent-up demand for comfortable, flexible housing for area corporations and luxury apartments for local discerning renters and downsizers.

2011

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

1924-1934

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.

1919-1923

Hyman Korman starts his homebuilding business in Northeast Philadelphia.

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In 1919, Hyman completed his first single-family homes, building one or two at a time, gradually developing the land he owned near Lawndale. A year later, he left his job at the clothing factory to pursue his dream full-time. Later in 1921 and in 1922, Hyman built his first Northeast twin homes.

1914-1918

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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