ARDMORE, PA – Piazza Property Development Company and Radnor Property Group announced the start of construction of The Piazza at Ardmore, a $187 million new mixed-use, multi-family housing and retail project at 100 Lancaster Avenue in Ardmore, Pennsylvania. The Piazza at Ardmore will bring 270 apartments, nearly 30,000 square feet of street-living retail space, and 480 parking spaces to Ardmore’s business district, 108 of which will be for public use.
The site is owned by Daniel Piazza Esquire and The Piazza Family who currently operate an Acura dealership. In January 2025, Dan Piazza Esquire selected Radnor as his developer to undertake the pre-development and development process.
“Radnor is delighted to expand our multi-family portfolio expertise to Ardmore, one of Philadelphia’s finest suburban communities to live and work,” said David Yeager, Radnor’s CEO & Managing Partner. “Through collaboration with ownership, The Piazza at Ardmore is a tremendous opportunity to carry on the area’s momentum and growth, enhancing its vibrancy and economic prosperity for the future.”
The project is part of a transit-oriented development at the Amtrak/SEPTA Rail station, bringing greater density and walkability to the downtown. Located adjacent to the Ardmore train station—the area’s busiest stop for regional SEPTA trails—and within walking distance of the Suburban Square Shopping Center, Ardmore Farmer’s Market, Ardmore Music Hall, and Trader Joe’s, The Piazza at Ardmore is ideally situated to make a right sense of place.
Amenities for The Piazza at Ardmore will include covered public and private parking, a community lounge, gaming room, media room, demo kitchen, co-working space, fitness center, an outdoor pool, and over 19,000 SF of outdoor courtyard space. The target retail tenants include a mix of food and beverage, health and wellness, and specialty retail uses.
“The groundbreaking of this project represents an exciting milestone for Piazza and the community of Ardmore,” said Daniel Piazza Esquire “This development has long been in the works, and we’re thrilled to be engaged with Radnor to bring The Piazza at Ardmore to fruition and deliver a truly fantastic live-work-play environment.”
This project illustrates the concerted effort between Radnor and Piazza in delivering a thoughtful, responsive, and elevated community. The team worked closely with Lower Merion Township and the Ardmore Initiative, the community’s Business Improvement District, to engage with stakeholders, ensure ample parking and walkability, and make pedestrian-friendly spaces where people can congregate.
“We hope that The Piazza project will bridge the years-long connectivity challenge between Haverford College and downtown Ardmore,” said Alec Hersh, Executive Director of the Ardmore Initiative. “The Piazza at Ardmore is another huge piece in the puzzle of making Ardmore the Main Street of the Main Line.”

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RALEIGH, NC – Elevest Capital, a boutique private equity firm specializing in multifamily real estate, announced the successful completion of Fund 63 with the acquisition of a 97-unit B+ class multifamily property located in the Raleigh-Durham MSA, in partnership with Rise48 Equity. This latest acquisition underscores Elevest Capital’s continued dedication to sourcing high-quality assets that offer strong investment potential and enhance communities.
Built in 1987, the asset is well positioned within a strong submarket of one of the Southeast’s fastest-growing metropolitan areas. The property offers compelling value-add potential through unit renovations and targeted amenity enhancements. It currently benefits from healthy occupancy levels and is supported by robust fundamentals, including an expanding job base, continued population growth, and sustained rental demand.
“Our ability to successfully close Fund 63 demonstrates the ongoing strength of our investor base and their confidence in our investment strategy,” said Adam Williams, Founder & CEO of Elevest Capital. “The Raleigh-Durham area continues to attract residents and businesses alike, making it a compelling addition to our portfolio.”
To drive long-term value and enhance the resident experience, there are extensive plans to do a comprehensive renovation program focused on upgrading unit interiors, installing in-unit washers and dryers, and enhancing community amenities. These strategic improvements are intended to increase occupancy, support rental growth, and maximize investor returns.
“This acquisition reflects our commitment to identifying high-quality assets with strong value-creation potential,” said Dana Williams, President of Elevest Capital. “By executing a strategic renovation plot and applying proven management expertise, we believe the property is well positioned to deliver long-term benefits for residents while generating attractive returns for our investor partners.”

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CHICAGO, IL – S2 Capital, a national vertically integrated real estate investment manager, announced the acquisition of Ovaltine Apartments, a 344-unit garden and loft-style multifamily community located in Villa Park, Illinois, a western suburb of Chicago, marking the firm’s first investment in the greater Chicago area. Terms of the transaction were not told.
The acquisition represents a strategic expansion for S2 into a new major U.S. market following several years of evaluation and underwriting across the Chicago region. The property was bought through a highly competitive marketing process led by the JLL Investment Sales team and aligns with S2’s value-add investment strategy.
Originally converted from the historic Ovaltine Chocolate Factory in 2001, Ovaltine Apartments is a generational landmark asset featuring distinctive loft-style layouts, 9- to 15-foot ceiling heights, and unique architectural character rarely found in suburban Chicago. The community is located in DuPage County, a supply-constrained submarket with no new multifamily units currently under construction within a three-mile radius and strong recent rent growth.
“All markets are not made equal, and our entry into Chicago reflects years of disciplined research and conviction around long-term fundamentals,” said Cole Stephens, Managing Director of Asset Management, Residential at S2 Capital. “Ovaltine offers a compelling combination of historical character, durable demand drivers, and value creation potential, making it an exciting first investment for S2 in the Chicago market and a strong addition to our portfolio.”
The property has demonstrated exceptional recent performance, maintaining average occupancy above 95% since January 2024 while consistently outperforming comparable properties in rent growth. Approximately 98% of units remain unrenovated or only partially upgraded, providing S2 with the opportunity to do a comprehensive renovation program aimed at driving rental growth and enhancing resident experience.
S2 bought the asset through its fully discretionary closed-end fund, S2 Real Estate Fund II. The firm plans to leverage its vertically integrated operating platform to implement interior renovations, targeted capital improvements, and operational efficiencies over the investment horizon.

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