Municipal and county officials recently signed an agreement of sale with Pinnacle Realty Development Company (PRDC) to start the long-awaited Norristown development project on land conveyed from Norristown State Hospital. The formal signing ceremony gives PRDC the ability to begin construction plans for a mixed-used development, dubbed the Preserve at Stony Creek, on 68 acres of the former state hospital grounds. Tony Maras, founder and president of PRDC, said the company will begin presenting conditional use plans for the property to council over the next couple months. The officials stressed that the signing ceremony is just the first step in a long process — one that is being touted as an economic boon for Norristown. A total of 728 residential units, including 453 townhomes and 288 apartments, are in the initial proposal, PRDC said.
Source: Main Line Media News; 2/27/2025