274 Luxury Apartments Just Broke Ground in Horsham: What It Says About Montgomery County Housing

By Josh McKnight | The McKnight Team

AVE Horsham is officially under construction.

Korman Communities and Goodman Properties broke ground at 723 Dresher Road on a 274-unit luxury apartment building. The four-story project replaces a demolished former Telerx call center on the site. Completion is expected by early 2028.

This is a big deal for the Horsham real estate market, and it tells us something important about where Montgomery County is heading.

Why AVE Horsham Is Worth Watching

Korman is not new to this. The same company runs similar AVE properties in King of Prussia, Blue Bell, and Malvern. According to the developer, those buildings are running at 95% to 97% occupancy.

That is a number worth pausing on. Occupancy that high means demand for high-end suburban rentals is not a rumor. It is real, and it is consistent across the Philadelphia suburbs.

AVE Horsham will offer studios, one-bedroom, and two-bedroom units averaging around 1,000 square feet. It will also include 13,000 square feet of indoor amenities, two outdoor courtyards, and over 440 parking spots.

What This Means for Horsham Real Estate

Horsham has been one of the steadier markets in Montgomery County for a few years now. According to Redfin data pulled in May 2026, the median sale price in Horsham is $545,000, and homes are selling in roughly 21 days on market.

Adding 274 rental units changes the equation in a few ways. First, it gives people moving into the area a place to live while they figure out where they want to buy. Many AVE residents end up purchasing homes in the same area within two to three years. That feeds the buyer pool.

Second, it pulls some pressure off the existing rental market. Horsham has had very tight rental inventory. More units help.

Third, and this is the one most homeowners care about, more housing supply usually keeps a lid on runaway price growth. But 274 rental units in a market with thousands of single-family homes is a drop in the bucket. It will not crash prices. It will not even meaningfully soften them.

Why Suburban Apartment Projects Are Different Now

Korman's co-CEO credited Horsham Township officials for being unusually welcoming to the project. That is worth noting.

For years, suburban townships fought apartment projects hard. The default answer was no. That is shifting. More townships across Montgomery County are recognizing that vacant office buildings and empty commercial sites are a worse outcome than well-designed apartments.

AVE Horsham replaces a vacant office building. The site was sitting empty. Now it will generate property tax revenue, support local businesses, and add to the Philadelphia suburbs housing supply at a moment when supply is the number-one constraint on the market.

If you want a deeper read on the Horsham real estate market and what makes the area work for buyers and sellers, we keep our Horsham community page updated with current data and local insight.

What This Means for You

If you own a home in Horsham, this project does not threaten your value. Demand for single-family homes here continues to outpace supply by a wide margin.

If you are a buyer thinking about Horsham, do not wait for these apartments to deliver and somehow change the market. Early 2028 is a long way off. The houses for sale in Horsham today are what you are competing for.

If you are a seller, the bigger story is that Horsham is being treated like a desirable address by major national developers. That kind of validation does not show up in the data tomorrow, but it builds the case for this area over the next five to ten years.

Frequently Asked Questions

Where is AVE Horsham being built?

AVE Horsham is located at 723 Dresher Road in Horsham, Montgomery County, on the site of the former Telerx call center.

How many units will AVE Horsham have?

The project will include 274 luxury apartments across four stories.

When will AVE Horsham open?

Construction is expected to be complete by early 2028.

Will AVE Horsham affect Horsham home prices?

Adding rental supply puts mild downward pressure on rents but has little near-term effect on single-family home values in Horsham, where demand continues to outpace supply.

Thinking About Buying or Selling in Horsham?

AVE Horsham is one signal among many that Montgomery County remains a strong market. If you want to know what your home is worth today or what your buying power looks like in Horsham, we can walk you through the numbers.

Thinking about buying or selling in Horsham? Let's talk.

Source: Philadelphia Business Journal, May 6, 2026.