Chuo-Nippon Land & Building to Develop Luxury Rental Apartments Near Philadelphia

Chuo-Nippon Land & Building Co., Ltd. will develop “AVE HORSHAM,” a luxury multifamily community in Horsham, Montgomery County, Pennsylvania, in partnership with U.S. real estate developer RXR Realty (RXR) and Korman Communities. Construction began on Feb. 25, 2026 (local time), with completion and initial move-ins targeted during 2028.

The project will be a four-story, wood-frame rental apartment building with 274 units and a Gross Floor Area of approx. 9,484 tsubo (approx. 337,479 sq. ft.). The unit mix will include 18 studios, 91 one-bedrooms, 39 one-bedrooms with den, 101 two-bedrooms, and 25 two-bedrooms with den, along with 414 parking spaces. The community will be part of Korman’s “AVE” luxury rental brand, which is positioned above what is commonly referred to in the U.S. as “Class AA” luxury apartments.

Chuo-Nippon Land & Building signed a partnership agreement with RXR and Arden Group in October 2023; this will be its second joint development with RXR and its first with Korman. Horsham—located about a 35-minute drive from Philadelphia—is known as an affluent area, with more than 20% of households earning over $200,000 in annual income. The company group plans to expand its overseas business through real estate investment in the U.S.

Key Facts

• Property Name: AVE HORSHAM

• Developers: Chuo-Nippon Land & Building Co., Ltd.; RXR Realty LLC; Korman Communities

• Location: 723 Dresher Road, Horsham, PA 19044 (Horsham, Montgomery County, Pennsylvania)

• Construction Start: February 2026

• Completion: During 2028

• Number of Floors: 4F / B0 (plus parking structure)

• Gross Floor Area: approx. 9,484 tsubo (approx. 337,479 sq. ft.)

• Planned Units: 274 (18 studios; 91 1BR; 39 1BR+DEN; 101 2BR; 25 2BR+DEN) + 414 parking spaces