Who Owns Philadelphia’s Apartments? - Philadelphia Development

With 1.6 million or so residents, you wouldn’t be wrong to assume that there are a few property owners that have more than most. Alan Domb has been called the condo king because he owns more than 400 units. What if I told you the person who owns the most dwarfs that number? What if I told you that they own 12 times that many?

PMC Property Group is the single largest property owner in Philadelphia with over 5,000 units. What’s most interesting is that though these units are broken up into larger and smaller buildings, a large contingent of them are found along the bank of the Schuylkill River. And, more are on the way! PMC is creating a hub through their developments of the Riverwalk properties, 23rd and Cherry, 2121 Market St, and a new development on JFK Boulevard.

One hundred and thirty units here, a few hundred over there, and a couple hundred just a few blocks away. It would seem PMC really has an edge on setting the market throughout the city. They have cut their teeth adapting older buildings and reusing them, something Philadelphia leads the country in, as well as building from the ground up. Adding to this, they own the air rights over some prominent rail track from 20th to 22nd and could launch a full scale effort to convert it into a shopping corridor or more housing, which is something Philadelphia still really needs!

-Austin Church