Funding will support rehabilitation of historic 202 Bala Avenue property and catalyze broader mixed-use development in Bala Cynwyd

BALA CYNWYD, Pa., (May 28, 2026) —  City Ave District, a bi-county business improvement district focused on strengthening the City Avenue corridor through economic development and placemaking, today announced it has been awarded $1,000,000 through the FY2025–2026 Main Street Matters funding round to advance the rehabilitation of 202 Bala Avenue, a long-vacant, historic property at the heart of the Bala Avenue commercial corridor.

The investment represents a significant step forward in ongoing efforts to revitalize one of the region’s most strategically important main streets and will serve as a catalyst for broader economic development across the District.

The Main Street Matters Revolving Loan Fund will directly support construction and related soft costs associated with repositioning 202 Bala Avenue as a vibrant, mixed-use asset. Plans for the property include a 2,500-square-foot hospitality-driven commercial space at street level and three residential units on the second floor.

“This investment addresses a highly visible vacancy at the center of Bala Avenue and advances a project that will have meaningful, long-term impact on the corridor,” said Bryan Fenstermaker, President & CEO of City Ave District. “Equally important, the Revolving Loan Fund establishes a sustainable financing tool that will allow us to continue supporting small businesses and property owners on 54th, 63rd, and Bala Avenue unlocking additional investment where it’s needed most.”

Catalyzing a Larger Redevelopment Vision

The redevelopment of 202 Bala Avenue is one component of a larger, coordinated initiative led by Core Development and HOW Property Management, in partnership with Lower Merion Township and City Ave District.

Located at a prominent corner, the property will serve as an anchor for a ground-up mixed-use development at 210–216 Bala Avenue, which will deliver:

  • 80+ residential units
  • 3,000 square feet of retail space
  • 118 parking spaces
  • A centrally located public gathering plaza

The planned public plaza is designed to function as a hub for community life encouraging social interaction, supporting local businesses and enhancing the overall quality of place along Bala Avenue.

The Revolving Loan Fund is designed to address one of the most persistent barriers facing small businesses and property owners: access to capital.

“City Ave District’s Revolving Loan Fund will be a transformative step in their ongoing revitalization efforts,” said Mary Jo Daley, State Representative for the 148th Legislative District. “As the only designated Main Street community spanning both Philadelphia and Montgomery Counties, this initiative will deliver meaningful, long-term impact. It will provide small businesses with the capital they need to grow, invest in their properties, and compete, ultimately strengthening Bala Avenue, 54th Street and 63rd Street as vibrant neighborhood commercial corridors.”

The investment addresses a highly visible vacancy at the center of Bala Avenue and establishes a sustainable financing tool that will allow us to continue supporting small businesses and property owners on 54th, 63rd, and Bala Avenue — unlocking additional investment where it’s needed most.

Fenstermaker also expressed gratitude for the legislators who championed the award: “We are deeply thankful to Senator Vincent Hughes, Senator Amanda Cappelletti, Representative Morgan Cephas, Representative Mary Jo Daley, and the leadership and staff at the Department of Community and Economic Development for their partnership and support in making this possible.”

The $1 million award builds on recent momentum for City Ave District, which was newly designated as a Main Street Matters community by the Pennsylvania Department of Community and Economic Development under Josh Shapiro’s administration. The multi-county designation, spanning Philadelphia and Lower Merion, positions the District to access up to $225,000 in additional funding and technical assistance to implement a comprehensive five-year revitalization strategy. That plan focuses on three key commercial nodes—Bala Avenue, 54th Street, and 63rd Street—and prioritizes walkability, small business growth, public space enhancements and the redevelopment of vacant and underutilized properties.

For more information on City Ave District, news, events and redevelopments please visit www.cityave.org. 

About City Ave District

City Ave District is the catalyst for transformation and revitalization across this important regional corridor. We serve the entire District community from businesses and employees, to residents, students, visitors and more, providing programs and supplemental services that create a clean, safe and vibrant environment. City Ave District spans a 2.7 mile area from the City of Philadelphia to Lower Merion Township. For more information visit www.cityave.org. 

Media Contact:
Melissa Grimm
Grimm & Grove Communications
215-840–0604
melissa@grimmandgrove.com