Montgomery County Planning Commission Maintaining and improving the

Montgomery County Planning Commission Maintaining and improving the County’s quality of life Jody L. Holton, AICP, Executive Director

Montgomery County’s Regional Position • 820, 000 people • 500, 000 jobs • 57 miles of highways, 1. 2 billion auto trips • 41 stations on 6 rail lines • 90 miles of regional trails + more local trails

Montgomery County 2015 New Construction • 1, 100, 000 sf new nonresidential space • 51% increase over the prior year • 1, 838 housing units constructed • 15% increase over the prior year • New residential construction represents $287 M of taxable property value

Montgomery County 2016 Median Housing Price • 11, 441 market rate sales of homes • Overall median sales price: $278, 500, a 2. 9% increase • New homes: $448, 524, a 14. 2%increase • Existing Homes: $268, 000, a 3. 1% increase

Montgomery County’s Future Homes • By 2040, 94, 000 more people in 38, 000 new housing units • 32% of households are single- headed (11% in 1960) – household size has shrunk • The senior population will grow 58% between 2010 and 2040 • 2 nd highest median household income in the state • Poverty is rises

MONTCO 2040: A SHARED VISION COMPREHENSIVE PLAN • The Montco 2040 Comprehensive Plan is a roadmap for making Montgomery County the best place to live, work, and open a business. MCPC

MONTCO 2040: A SHARED VISION COMPREHENSIVE PLAN • County Trail Development • Montco 2040 Grant Program • Farmland Preservation Program • County Road Projects MCPC

Montgomery County The effect of county projects on the housing market

Providence Town Center • Perkiomen Trail opened in 2004 • 422 Corridor Improvements • Corporate campuses expanding - SEI, GSK, Dow/Pfizer • Providence Town Center • 758, 000 sf retail including Wegmans

Providence Town Center • Toll Brothers & Madison Residential Projects • 75 units built in 2014 -2015 White Springs at Providence (Toll Brothers) • 67 units built in 2014 -2015 Providence Corner (Ryan Homes) • Proposed 656 units at Residences at Providence Town Center 656 Units Proposed Residences at Providence Town Center 67 Units Providence Corner

Median Sold Price Providence Town Center TREND Montgomery County $310, 000 $290, 000 $270, 000 $250, 000 $230, 000 $210, 000 $190, 000 $170, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $150, 000 11

Median Sold Price Change in Median sold Price from 2011 -2016 Providence Town Center Montgomery TREND +10. 9% + 9. 2% + 9. 6% Change in Median Price from the Peak Year Providence Town Center 2006 + 0. 4% Montgomery TREND 2006 2007 - 5. 5% - 4. 5%

Days on Market Providence Town Center TREND Montgomery County 100 90 80 70 60 50 40 30 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0

Months Supply of Inventory Providence Town Center TREND Montgomery County 14. 0 12. 0 10. 0 8. 0 6. 0 4. 0 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0. 0

Conshohocken Area • • Blue Route fully opened in 1992 Schuylkill River trail opened in 1995 Office growth between 1980 s-90 s • Riverfront 2. 7 M sf of office • 423 hotel rooms 1, 400 new apartments/multi-family units added 2005 -2015

Conshohocken Area • Proposed: 1. 27 M sf of office, 920 apartments, and one hotel 610 units 418 -401 Washington

Conshohocken Area 300, 000 SF Office; 200 -room Hotel One Conshohocken 330, 000 SF Office 400 W Elm

Median Sold Price Conshohocken TREND Montgomery County $350, 000 $300, 000 $250, 000 $200, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $150, 000 18

Median Sold Price Resales Conshohocken TREND Montgomery County $350, 000 $330, 000 $310, 000 $290, 000 $270, 000 $250, 000 $230, 000 $210, 000 $190, 000 $170, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $150, 000 19

Median Sold Price Change in Median sold Price from 2011 -2016 Conshohocken Resales Only Montgomery TREND + 21. 6% + 17. 4% + 9. 2% + 9. 6% Change in Median Price from the Peak 2005 + 12. 7% Year. Conshohocken Resales Only Montgomery TREND 2008 2006 + 12. 9% - 5. 5% - 4. 5%

Days on Market Conshohocken TREND Montgomery County 90 80 70 60 50 40 30 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0

Months Supply of Inventory Conshohocken TREND Montgomery County 14. 0 12. 0 10. 0 8. 0 6. 0 4. 0 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0. 0

Ambler/Upper Dublin • • • SEPTA improvements to Ambler (2012) & Ft Washington (2007) Stations $2. 1 M in county funded downtown Ambler improvements Wissahickon Green Ribbon Trail & Open space program

Ambler/Upper Dublin • • • Fort Washington Office Park Flooding structures - 2014 New zoning - 2013

Median Sold Price Ambler/Upper Dublin TREND Montgomery County $400, 000 $350, 000 $300, 000 $250, 000 $200, 000 $150, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $100, 000 25

Median Sold Price Change in Median sold Price from 2011 -2016 Ambler/Upper Dublin Montgomery TREND +11. 1% + 9. 2% + 9. 6% Change in Median Price from the Peak Year Ambler/Upper Dublin 2005 + 2. 6% Montgomery TREND 2006 2007 - 5. 5% - 4. 5%

Days on Market Ambler/Upper Dublin TREND Montgomery County 90 80 70 60 50 40 30 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0

Months Supply of Inventory Ambler/Upper Dublin TREND Montgomery County 14. 0 12. 0 10. 0 8. 0 6. 0 4. 0 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0. 0

The Perkiomen Trail • • Perkiomen Trail opened in 2004 (19 miles long) Oaks to Green Lane through Collegeville and Schwenksville

Median Sold Price Perkiomen Trail TREND Montgomery County $330, 000 $310, 000 $290, 000 $270, 000 $250, 000 $230, 000 $210, 000 $190, 000 $170, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $150, 000

Median Sold Price Change in Median sold Price from 2011 -2016 Perkiomen Trail Montgomery TREND +27. 7% + 9. 2% + 9. 6% Change in Median Price from the Peak Year Perkiomen Trail 2006 + 0. 9% Montgomery TREND 2006 2007 - 5. 5% - 4. 5%

Days on Market Perkiomen Trail TREND Montgomery County 120 100 80 60 40 20 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0

Months Supply of Inventory Perkiomen Trail TREND Montgomery County 20. 0 18. 0 16. 0 14. 0 12. 0 10. 0 8. 0 6. 0 4. 0 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0. 0

Lansdale Borough • SEPTA express service less than 1 hour to city (SEPTA improvements have reduced travel time by over 10 minutes) • • $1. 6 M in county funded downtown improvements PA Turnpike NE Extension Expansion

Lansdale Borough

Median Sold Price Lansdale Boro TREND Montgomery County $290, 000 $270, 000 $250, 000 $230, 000 $210, 000 $190, 000 $170, 000 20 04 20 05 20 06 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 $150, 000 36

Median Sold Price Change in Median sold Price from 2011 -2016 Lansdale Boro Montgomery TREND + 5. 4% + 9. 2% + 9. 6% Change in Median Price from the Peak Year Lansdale Boro 2007 - 2. 0% Montgomery TREND 2006 2007 - 5. 5% - 4. 5%

Days on Market Lansdale Boro TREND Montgomery County 90 80 70 60 50 40 30 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0

Months Supply of Inventory Lansdale Boro TREND Montgomery County 14. 0 12. 0 10. 0 8. 0 6. 0 4. 0 20 17 20 16 20 15 20 14 20 13 20 12 20 11 20 10 20 09 20 08 20 07 0. 0

Montgomery County’s 2040 Plan: Turnpike Corridor Reinvestment • Reinvigorate business parks between the Valley Forge and Willow Grove interchanges of the Pennsylvania Turnpike • Existing corridor 10, 500 acres • 27 million SF of office • 16. 5 million SF of industrial • 2. 8 million SF of retail 40

Montgomery County’s 2040 Plan: Turnpike Corridor Reinvestment • 7 interchange improvements (3 new; 4 improved) - new toll revenue pays for these improvements over a 20 year period • Changing the Turnpike Corridor’s Business Parks with New Zoning and Interchanges adds • 26, 500 new jobs • 4, 150 new homes Employment Centers Draft rezoning of the Pennsylvania and Horsham Business Parks Source: Horsham Master Plan Illustration New interchanges 41

FUNDED – COMPLETION 2021 FUNDED – COMPLETION 2019 42

Montgomery County’s 2040 Plan: KOPRail Project • 5 -mile extension of rail service to KOP Mall and Business Park • Connecting the region’s three largest employment centers – KOP, University City, & Center City • $1. 2 billion construction cost Estimated value of additional development spurred by KOPRail over 20 years source: Economy League of Greater Philadelphia 43

Montgomery County’s 2040 Plan: Trail Expansion 44

Thank you! Have a Bright day! 45