Press Room



Philly's Suburbs May Not Be 'Cool,' But That's What Makes Them Valuable

Bisnow

Summary of Biznow panel discussion on the value of Suburban Philadelphia for developers. AVE President and Korman Communities COO Lea Anne Welsh participates.

Multifamily developments have proliferated in the last couple of years, with several projects looking to come online in the next year or so. While the easy narrative would be to chalk that up to Millennials moving back out to the suburbs to start families, the reality is different.

Baby Boomers look to be the primary driver of rent prices in the suburbs as they look to sell their homes and downsize once their children have moved away. They are renters by choice.

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