M I X E D - U S E DRE is charged with identifying and leasing distinctive, upscale retailers for The Village at Valley Forge, a mixed-use development in King of Prussia, Pa. The Village at Valley Forge Breaks Ground KING OF PRUSSIA, PENNSYLVANIA -- Construction is currently underway at the highly-anticipated Village at Valley Forge in King of Prussia, Pa. The project, a joint venture between The Northwestern Mutual Life Insurance Co. and Realen Properties, is the first of its kind in the area. The 1 million-square-foot, mixed-use Village at Valley Forge will feature retail and office space, up to 3,000 residential units, and two hotels with up to 500 hotel rooms. “This project is located right in the heart of the King of Prussia market,” says Gerald Divaris, chairman and CEO of Divaris Real Estate, Inc. (DRE), who heads up the leasing team for the project. “This development will draw on the strength of the King of Prussia Mall, as well as the surrounding daytime population provided by the 16 million square feet of office space located nearby, in addition to the major roads that access the property.”  The location of The Village at Valley Forge is a key component to the project’s success. “The 125-acre site is situated at the confluence of, and has direct access to and from, four of the region's most important highways — the Pennsylvania Turnpike, Interstate 76, Route 422 and Route 202 — and it is located in the heart of suburban Philadelphia's most important employment center, which features 16 million square feet of office space,” says Dennis Maloomian, president of Realen Properties in Berwyn, Pa. “Additionally, it is adjacent to the King of Prussia Mall, one of the largest and preeminent retail centers in the country and surrounded by the highest demographics in the region.” In addition to its prime location, The Village at Valley Forge is different from other retail developments due to its design and content. The project is designed as a mixed-use lifestyle center, or ‘village,’ with its own town center. Retail stores, boutiques, restaurants, entertainment, office space, residential housing and hotel projects are all part of the planned uses for the development. Other unique features include a system of lakes and water features as well as open areas, piazzas, a town square and an amphitheater for both shoppers and residents to enjoy. “The Village at Valley Forge has been planned as a high density, ‘New Urbanist,’ pedestrian-oriented community of retail, office, entertainment, hospitality and residential uses, all integrated in a manner which encourages walking as the preferred means of transportation, on site,” says Maloomian. “The tightly woven fabric of this development maximizes the amount of green space and embodies many of the Department of Environmental Protection's Best Management Practice, such as ponds, rain gardens, recycling of rainwater for irrigation, bike trails, shuttle bus stops and an innovative storm water management system designed to recharge the groundwater.” The first phase of 425,000 square feet of retail space is underway with completion scheduled for late 2009 and a grand opening in Spring 2010. The second phase will be constructed in stages thereafter, with new sections opening as they are completed.  Its merchandise mix is focused on four major components: food; entertainment and recreation; home goods and furniture; and fashion starting out in phase one with active wear.  Divaris Real Estate, Inc. One Columbus Center, Suite 700 Virginia Beach, VA 23462 TEL: 757.497.2113 FAX: 757.497.1338 info@divaris.com
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