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Developer plans $100M overhaul of Bala Village

Cross Properties has zeroed in on a corner of Lower Merion referred to as Bala Village and has plans to spend roughly $100 million to develop upwards of 300 multifamily units.

For its part, Cross has a vision of how it sees Bala Avenue evolving and anticipates taking an active role in shaping its future through some of the projects it is proposing.

At this point, it owns: 10 Union Ave., where it expects to begin work next month on a new apartment building that will have 110 units; 9-11 Union Ave., which consists of five properties that will be razed to make way for a complex that will have 80 units; and 202 Bala Ave., which is the site of the former BMW dealership. There, Cross is considering building as many as 110 units. Each project would have a retail component that would cater to residents of the apartments, other nearby neighbors and more.

Cross Properties has completed two apartment projects in Lower Merion — the Palmer in Wynnewood and the Square in Ardmore. Both have been deemed successes and, for Michals, provided proof the market can absorb more multifamily development. Tenants at those two projects have been young professionals between 28 and 35 years old and those between 55 and mid-80s who are downsizing. The gap between those two groups is the result of those in prime child rearing years who own a home, he said. Michaels expects the Bala projects to draw similar demographics as the other two developments.

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