History

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.

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.

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.

AVE Becomes Bicoastal​

AVE Redefines the Rental Industry​

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.

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.

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 Korman starts his homebuilding business in Northeast Philadelphia.

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.

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.