Amid strong rental demand, the Hankin Group is adding 373 new apartments to three existing projects in Chester County by the end of next year, writes Ryan Mulligan for the Philadelphia Business Journal.
The developer is now executing phase two of its Downingtown and Exton projects, representing a more than $150 million investment.
Exton-based Hankin Group is known for creating “town centers,” featuring retail property, commercial space, and new apartments organized around a central location. The developer constructs its communities in phases.
They continue to focus on the suburban Philadelphia rental market, one of the hottest in the country, with 94.9 percent occupancy and renewal rate of 77.9 percent, the highest among the top 20 markets.
In Downingtown, the developer is constructing its River Station complex around the future site of the nearby SEPTA station.
Last month, it officially broke ground on the 160-unit second phase of the project. The company is also expanding its Eagleview community in Exton, where a new 117-unit independent living facility is currently under construction, and starting phase two of its Keva Flats development, also in Exton, with 96 new units.
Read more about Hankin Group building new apartment rentals in Chester County in the Philadelphia Business Journal.
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