PHILADELPHIA (February 26, 2026) – SEPTA today awarded a contract to Korman Communities, Inc. and Benchmark Real Estate, LLC for the long-term ground lease of the parking lot at Ambler Station along the Lansdale/Doylestown Regional Rail Line.
Under this agreement, the developer will pay SEPTA $402,500 per year with annual increases of 3% for a total contract value estimated to be $236 million over a term of 99 years.
SEPTA is building on the success of its Transit Oriented Communities (TOC) Program by pursuing joint development opportunities to secure better returns on its real estate assets. Dedicated revenue from ground leases and new ridership revenue is projected to grow to $10 million annually within the next decade.
“SEPTA is committed to strict fiscal discipline and finding innovative ways to generate new revenue streams beyond the farebox,” said SEPTA General Manager Scott A. Sauer. “Building housing and commercial space near our stations will boost ridership and bring economic activity to the communities that SEPTA serves.”
SEPTA’s TOC Program encourages equitable and sustainable community development around its services, allowing more people to live and work near high-quality transit.
The Authority has coordinated with Ambler Borough since 2023 to ensure that the request for proposals aligns with the borough’s vision for the 3.4-acre parking lot located at 35 West Butler Pike.
The Korman and Benchmark proposal closely reflects the development goals set forth by SEPTA and the community. It includes ground floor commercial; high quality open space and stormwater management; commuter and development parking; and multi-family housing with an affordable component.
The developer will be responsible for all aspects of financing, zoning, permitting, design, construction, and maintenance of the project, and redevelopment of the parking lot is subject to SEPTA’s approval.
SEPTA’s other TOC projects are underway in various stages of development at Conshohocken, Germantown and Langhorne stations.
SEPTA is hosting an open house on March 23 at Penndel Borough Hall to request feedback from the community about the Langhorne Station property.
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