Every once in a while, a project comes along that feels bigger than the buildings themselves. For me, AVE Navy Yard is one of those projects. Whenever we start a new residential project, we always ask the same question: What will this new community be like for the people who will live here? And in this case, we weren’t just building apartments — we were helping create an entirely new neighborhood in Philadelphia.
For generations, the Navy Yard had no residential development. It was a place of history and industry, where ships were built and repaired, and thousands of Philadelphians went to work each day. Yet no one could call the Navy Yard home. That’s what makes this project so special. With the opening of AVE Constitution in November 2025, and AVE Normandy following soon after in early 2026, people will finally be able to live where they work — and in a place where Philadelphia’s future is being shaped.
Honoring History, Creating Home
The Navy Yard has always been part of the city’s DNA. George Washington commissioned the first naval ships here in the 1770s. League Island was gifted to the U.S. Navy by the City of Philadelphia for one dollar in the 1860s, and for more than a century it stood as one of the most important shipyards in the nation.
When the Navy decommissioned the site in 1996, it became a quiet, hidden jewel at the southern edge of the city. Over the past two decades, Ensemble/Mosaic, PIDC, and the City of Philadelphia have done a remarkable job attracting major employers — Urban Outfitters, Jefferson Health, Adaptimmune, and dozens of leading life science and technology companies. More than 16,000 people come here every day to work.
Until now, every one of them had to leave at night.
With AVE Constitution and AVE Normandy, we’re introducing the missing piece — a residential community designed for every lifestyle and every income level. Together, the two properties offer 614 apartments, both furnished and unfurnished, along with 75,000 square feet of on-demand wellness, business, and entertainment amenities and 25,000 square feet of retail and dining. It’s a place where people can live, work, and play — and truly feel part of something new.
Continuing a Century of Building Communities
In many ways, what we’re doing at the Navy Yard isn’t new for Korman Communities — it’s who we’ve always been. More than a hundred years ago, my great-grandfather Hyman Korman began developing homes in Northeast Philadelphia. In the first, second, and third generations of our family business, Korman Communities built entire neighborhoods where none existed before — turning farmland and vacant land into planned residential communities with homes, apartments, and shopping centers that became part of Philadelphia’s growth story.
This project brings us full circle. Just as my grandfather and father once built neighborhoods across the region — places where people could put down roots and feel at home — we’re now helping shape Philadelphia’s first new neighborhood in decades. That continuity matters to me. It reflects the spirit of Korman Communities: investing not only in real estate, but in people and place.
The Evolution of the AVE
The AVE brand has always been about flexibility and service — apartments that feel like home, with the convenience and care of hospitality. Coming out of the pandemic, we spent time rethinking how people live and work. Remote work isn’t a passing trend; it’s a new way of life. Our residents want space for connection and focus, for wellness and comfort.
At AVE Navy Yard, we took everything we’ve learned and built it into the design. AVE Normandy features our most extensive business and wellness amenities to date — over 30,000 square feet of indoor spaces, including conference rooms, co-working pods, a golf simulator, soundproof studio, and a resort-style pool deck. AVE Constitution complements it with a mix of luxury and affordable apartments, including 92 workforce units made possible through the Ensemble/Mosaic team’s commitment to diversity, equity, and inclusion. Together, the two properties reflect what we call the best of both worlds — the energy of an urban setting, the breathing room of the suburbs, and the feeling of community that defines AVE.
Partnerships and Placemaking
None of this happens alone. We’re fortunate to be the residential partner to Ensemble/Mosaic, the master developers of the Navy Yard, alongside our equity partners MetLife and Basis Investment Group, and M&T Bank as our construction lender.
This collaboration brings together public and private partners with shared values — a focus on design excellence, sustainability, and inclusion. The Navy Yard is now the nation’s largest LEED Neighborhood Development, a 20-acre campus of parks, trails, and waterfront spaces that’s already changing how people think about living in Philadelphia.
What excites me most is that this isn’t just another project — it’s a living, breathing neighborhood that will continue to evolve over the next decade. From the new Chapel Plaza to the planned hotel and retail corridor, this district will have the kind of street life, green space, and civic energy that defines great cities.
A Personal Connection
For our family, this is home. Korman Communities may now operate nationally, but our roots are firmly in Philadelphia. To be building again in the city where my great-grandparents first started, and to help shape a place that future generations will enjoy, means a great deal to all of us.
When I walk the site, I see the same spirit that has carried our company through five generations — optimism, craftsmanship, and a belief that housing is about more than buildings. It’s about creating neighborhoods where families are nurtured, people feel cared for, and life-long connections and memories are made.
The Korman Integrated Approach
As a fifth-generation, family-owned company, we’ve learned that long-term value comes from alignment — owning, managing, and branding our properties within one organization. That’s the Korman Integrated Approach:
- Ownership ensures we invest with a generational perspective.
- Property management delivers consistent quality and service.
- Brand creation builds trust and differentiation in every market.
At the Navy Yard, all three come together. We’re not just building apartments; we’re investing in the future of Philadelphia — creating a place where people can Live Better today and where the city can thrive for generations to come.
