By Olivia Bunescu March 5, 2025 Source: Multi-Housing News
The Pennsylvania developer has leveraged its vertical integration capabilities and stayed active. COO Michael Hankin expands.
Over the past six decades, family-owned Hankin Group has been active on the residential development front through its dedicated division, bringing online more than 7,000 residencies and 2,500 apartments to date, most of them in Pennsylvania.
Adopting a build-and-hold long-term strategy, Hankin has been developing mixed-use projects with a particular focus on sustainable living. We asked Michael Hankin, COO & President of Hankin Apartments, to highlight key trends he’s seeing in the local multifamily market, and expand on how he’s tackling development challenges to deliver environmentally friendly projects in today’s tough economic climate.
How is the multifamily development landscape evolving in the markets you’re active in?
Hankin: Across the region, we have seen a slowdown in development stemming from escalating land values. Due to high interest rates and construction costs, there is a disconnect between asking prices and what developers are willing to pay. We don’t expect to see an influx of new multifamily development until the market is balanced. Developers are also being more creative in identifying financing solutions, such as exploring joint ventures.
The multifamily communities that are succeeding are the properties that have a clear vision and can differentiate themselves in the market. Renters aren’t looking for a ‘big box’ product, they want lifestyle-centered, destination communities.
As an example, we’ve seen incredible demand in Hankin Group’s 800-acre Eagleview, which features over 1,000 amenity-rich residences, 2.4 million square feet of distinctive commercial office space and over 50,000 square feet of prime retail space. The mixed-use community is anchored by Eagleview Town Center, a vibrant community hub with a variety of dining, shopping, entertainment and recreation opportunities.
Across the board, we are also seeing a push from local governments around environmental sustainability, which has a huge advantage for residents and the community at large, along with the demand for more affordable and workforce housing options.
To what extent have high construction costs and supply chain disruptions impacted your ability to keep projects on time and on budget?
Hankin: Hankin Group is a vertically integrated real estate company, allowing us more control, consistency and cost savings across the lifespan of development. Fortunately, we are well-equipped to navigate high-cost environments because our business is based on quality, sustainability and long-term ownership. Many developers build, lease up and immediately sell to capitalize on a quick flip. Our motto is ‘build long term, hold long term.’ To some extent, fluctuations in entering costs aren’t as relevant because we are holding properties and accounting for long-term appreciation.
What unique opportunities and challenges does Pennsylvania’s multifamily housing market present, particularly when looking at suburban vs. urban areas?
Hankin: Both suburban and urban development presents unique opportunities and challenges in Pennsylvania, primarily around land availability and density.
Cities and boroughs often understand the benefits of density and mixed-use development, but there is more limited real estate. However, this also provides more opportunities for redevelopment, such as our River Station project in Downingtown, Pa.
After completing the 242-unit Keva Flats community in 2019, the company kicked off the second phase of the project in September 2024, planning to add two new buildings and 96 units. Image courtesy of Hankin Group
Suburban markets, alternatively, have greater availability of land, which is an advantage, but often municipalities have zoning obstacles and a lower appetite for adding housing. Zoning regulations have good intentions, but if not kept current, can impede strategic planning and development. Parking is a great example. For instance, multifamily buildings typically utilize approximately 1.4 parking spaces per unit, whereas many ordinances require 2.5 spaces per unit. Building parking to sit empty is a poor use of land and we would much rather utilize this valuable space to deliver community-oriented amenities, such as walking trails, outdoor recreation space or even a town square.
Regardless of where a community is being developed, working closely with the local governing body is key to getting projects across the finish line. Hankin Group’s Keva Flats, a 19-acre sustainable, luxury apartment community in Chester County, Pa., was the direct result of a zoning map change. The Keva property was located within the Office/Laboratory zoning district adjacent to West Whiteland Township’s Town Center zoning district. Working with the Township through a comprehensive planning process, West Whiteland remapped Keva to Town Center Zoning, encouraging added density in the downtown to support existing office and retail.
How do you decide where to develop new multifamily properties within Pennsylvania? Do you focus on certain trends, indicators or insights?
Hankin: Hankin Group is headquartered in Exton, Pa., and we are typically focused on about a 180-mile radius in terms of our development footprint. Our team is well-versed in the local real estate landscape, keeps a pulse on trends and closely monitors key market indicators, such as shifting demographics, population growth, Class A office development, an uptick in lifestyle amenities, an influx of higher-end businesses, university proximity etc.
Moving forward, we’re particularly interested in expanding our footprint in Lancaster and Hershey, Pa. We are currently developing Queen Street Flats in Lancaster in partnership with Penn Medicine Lancaster General Health, which will transform a historic tavern into a three-story, more than 200-unit luxury lifestyle community along with a 30,000-square-foot state-of-the-art medical facility.
We’re excited to do more business in Lancaster, as the city has been fantastic to work with and is poised for considerable growth. From a new Lululemon and Apple store to the nearby Franklin & Marshall campus, we anticipate Lancaster to continue gaining traction in the years to come.
What role does sustainability play in your overall strategic development plan? Can you share some specific examples?
Hankin: To date, Hankin Group has developed 52 Energy Star-certified buildings (with 22 under development), 42 LEED-certified buildings and 1,035 LEED-certified apartment units (with another 951 under development). We strive to serve as a model for developers across the country and showcase the real and meaningful impact we can have on the environment by prioritizing sustainability and environmentally conscious design.
This commitment is exemplified in our new Hamilton Passive House, the country’s first market-rate Phius ZERO apartment community. The net-zero, 32-unit luxury building meets rigorous, third-party standards for quality, durability, health, safety and cost-optimized conservation. Notable sustainability features include cutting-edge R40 insulated walls, super-insulated triple pane windows, water-conserving bathroom fixtures, energy recovery units, central hot water and rooftop solar photovoltaic array, which will eliminate electricity bills for residents.
We also recently announced a $2.4 million floodplain restoration at Keva Flats, the state’s largest LEED Gold-certified apartment community. As an identified priority by the Pennsylvania Department of Environmental Protection, the initiative is one of the first in Chester County and will deliver significant environmental benefits for the environment, Township and local community.
How have you adapted to meet the needs of today’s renters, especially in terms of wellness, shared spaces and technological amenities?
Amenities at Keva Flats include a rooftop terrace with a grill area, a multi-sport simulator room, a resident lounge with an entertainment kitchen and bar, a clubhouse, a swimming pool and a fitness center, among others. Image courtesy of Hankin Group
Hankin: While the ‘amenities arms race’ of the past several years has cooled off, today’s generation of luxury renters expect more than just basic living spaces, Wi-Fi and a community room. In-unit smart home technologies, including smart locks and thermostats, remote entry and USB outlets are a priority.
We also focus on offering renters thoughtful, efficient amenity spaces to help residents thrive in their everyday lives. For example, at Hamilton at Eagleview and Keva Flats, residents enjoy top-of-the-line lifestyle offerings, including a resort-style pool and pool deck, golf and multisport simulator, clubhouse with entertainment kitchen, coffee bar, fitness club and much more. With the permanence of remote work, offering private and shared workspaces in our amenity suite has been incredibly popular with residents.
We anticipate wellness to be a continued emphasis for multifamily communities in 2025 and beyond. Developers will need to go beyond the traditional fitness center, and focus on offering more of a boutique, high-end gym experience—think yoga studio, Peloton, Echelon Fitness Mirror and tech integration.
How do you balance aesthetics with functionality? What are the key design principles that guide each project from conception to completion?
Hankin: Our team follows New Urbanism planning, which prioritizes walkability, connectivity, quality architecture, mixed-use design and traditional neighborhood structure. We are always thinking about how our communities will improve their quality of life. Aesthetically, is the project beautiful and is it a place I would love to live? Does the project fit into the surrounding context and add value? Are we taking a people-first design approach? How can we integrate events like community races, concerts and farmers markets to foster vibrancy?
Overall, we try not to emphasize trends, which quickly go in and out of style but instead invest in quality. With our in-house design, development and construction teams, we can always ensure our built product meets our high standards.
Tell us a bit about your expectations for multifamily development this year.
Hankin: Given current interest rates, we don’t anticipate a dramatic increase in multifamily development in 2025. Perhaps 2025 will be the year of acquisitions, with an opportunity for experienced developers to acquire new or vintage properties and improve profitability through enhanced management, value-add upgrades or renovations.
Excision Medical Moves Heart Technology Company to Hankin Group’s Eagleview in Exton, PA
The medical device startup joins growing number of life sciences companies moving to the thriving mixed-use development
EXTON, PA (November 18, 2024) – Hankin Group, a vertically integrated real estate company, has announced that Excision Medical, a privately held medical device company focused on structural heart technology innovations, relocated its corporate headquarters to 260 Sierra Drive at Eagleview in Exton, PA.
The 12,276 square foot space is an expansion for the Malvern-based startup, which is focused on addressing the rapidly growing need for lifetime management of aortic stenosis through transformative leaflet modification technology. The move follows the company’s successful $11 million series A fundraise and marks the next phase of growth as Excision Medical prepares to transition from research & development to clinical testing.
“We are thrilled to officially move into our new space at Eagleview,” said Jason Keiser, Vice President of Operations, Excision Medical. “Throughout my professional career, I’ve always had an excellent experience with Hankin’s property management, and the customizable, Class A CDMO facility is exactly what we were looking for as we continue to develop the next evolution of structural heart products.”
“Excision Medical is the third business Jason and his partners have brought to Eagleview, a testament to the value master-planned, amenity-rich, and transit-oriented real estate delivers for companies across industries,” said Bob Hankin, CEO, Hankin Group. “We look forward to seeing their continued success at Eagleview for years to come.”
260 Sierra Drive is a fully-leased, 80,000 square foot facility designed for office, research & development, light manufacturing and assembly, warehouse, and pharmaceutical uses.
With more than one million square feet of life sciences, research, and development space, Eagleview is quickly becoming the premier destination for the life sciences sector in the greater Philadelphia region.
Most recently, Hankin Group welcomed KOKO Medical, a medical device and women’s health company, to 770 Pennsylvania Drive and Frontage Laboratories, a full spectrum CDMO, and Fruh Packaging, a Swiss pharmaceutical packaging company, to 240 Sierra Drive. Additional tenants include West Pharmaceutical Services, Takeda Pharmaceuticals, Castle Biosciences, DSM, Immunome, and more.
Eagleview is an award-winning, 800-acre mixed-use community located in Chester County, PA. The master planned development boasts over 1,000 residences, 2.5 million square feet of distinctive commercial office space, and over 50,000 square feet of prime retail space. Eagleview’s thoughtfully designed system of sidewalks, jogging paths, and greenways create a unique experience that seamlessly integrates the residential, commercial, and retail aspects of the community.
Excision Medical was represented by Mitch Reading of Tactix Advisors. Hankin Group was represented internally by Sam Sherrill.
For additional information on Eagleview, visit www.hankingroup.com/eagleview.
About Hankin Group
Located in Exton, Pennsylvania, Hankin Group is a full-service, family-owned real estate company who designs, develops, and manages residential and commercial properties. For more information about Hankin Group and its projects, please visit www.hankingroup.com.
Hankin Group Opens Pennsylvania’s First Phius ZERO Multifamily Community
The net zero luxury apartment building adds 32 sustainable units to Hamilton at Eagleview in Exton, PA
EXTON, PA (October 15, 2024) – Hankin Group, a vertically integrated real estate company, today celebrated the grand opening of Hamilton Passive House, marking what will be Pennsylvania’s first Phius ZERO apartment community and one of the first 100% market rate, Phius ZERO communities in the country. The net zero, 32-unit luxury building completes the first phase of Hamilton at Eagleview, the award-winning, 156-unit eco-friendly apartment community in Exton, PA.
Phius ZERO is the industry-setting standard for net zero energy design and the highest certification from Phius, the leading certifier of passive house projects in North America. Hamilton Passive House will meet rigorous, third-party standards for quality, durability, health, safety, and cost-optimized conservation, including eliminating on-site fossil-fueled combustion and off-setting annual operational energy with renewable energy.
Notably, the building features cutting-edge R40 insulated walls, resulting in an estimated 40% reduction in heat flow compared to lower performance R20 insulation; rooftop solar PV array, expected to generate 217,825 kWh annually and eliminate electricity bills for residents; hybrid heat pump water heaters, delivering near instant hot water that is four-times more energy efficient than standard electric heaters utilizing approximately 70% fewer heaters; and PVC and sustainable rice hull siding, which is made from 100% recycled and tree free materials to support natural habitats and biodiversity.
Hamilton Passive House Aerial View with Solar Panel Roof and Solar Canopy parking lot in view
“For more than 20 years, Hankin Group has been committed to environmentally-conscious development, and we’re proud to represent the future of sustainable living with Hamilton Passive House,” said Bob Hankin, President and CEO at Hankin Group. “Phius has been an incredible partner throughout this process, and we hope today’s milestone inspires a continued investment in our environment from developers across the country.”
“Achieving Phius Certification for a project is an accomplishment worth celebrating as it is representative of the hard work of the project team and shows that this project will be among the most efficient and comfortable buildings in the world,” said James Ortega, Project Certification Manager at Phius.
The four-story building offers one-, two-, and three-bedroom apartments with robust sustainability features, such as water conserving bathroom fixtures; induction cooking, which heats three-times faster than gas cooking while reducing harmful air pollution; super insulated triple pane windows; stainless steel Energy Star appliances; and high efficiency HVAC and ERV systems. Additional in-unit amenities include full-size high efficiency washer and dryer, expansive closets, smart lock entry and thermostat, wood inspired flooring, modern kitchens with under cabinet lighting, and more.
Residents of Hamilton at Eagleview also enjoy a full suite of upscale community amenities, including resort-style pool with outdoor TV, golf and multisport simulator, top-of-the-line fitness center, pet spa and bark park, coffee bar, EV charging stations, business center with private workspaces, spacious clubhouse with entertainment kitchen, valet trash and recycling services, and more.
The building is located just 0.5 miles from Eagleview Town Center, a vibrant community hub that offers a variety of dining, shopping, entertainment, and recreation options. The thriving Town Center features a beautifully landscaped, two-acre gathering space that hosts a variety of community events, such as festivals, movie nights, summer concerts, and weekly farmers market. Other amenities, including soccer and baseball fields, tennis courts, playgrounds, community garden, and swimming pools, complete Eagleview’s holistic approach to a healthy, convenient lifestyle.
Hamilton Passive House is the latest addition to Hankin Group’s 800-acre, award-winning Eagleview in Chester County, PA. The mixed-use, master planned community boasts over 1,000 residences, 2.5 million square feet of distinctive commercial office and life science space, and over 50,000 square feet of prime retail space. Eagleview’s thoughtfully designed system of sidewalks, jogging paths, and greenways create a unique experience that seamlessly integrates the residential, commercial, and retail aspects of the community.
“Hamilton Passive House is perfect for those seeking a luxury living experience, while also prioritizing a green lifestyle with reduced environmental impact,” added Michael Hankin, COO at Hankin Group and President at Hankin Apartments. “The building perfectly encapsulates Eagleview as a hub of community, innovation, and sustainability.”
Hankin Group is an industry leader in sustainable, socially responsible development. In September 2024, Hankin announced one of Chester County’s first floodplain restoration projects at Keva Flats, the 19-acre luxury apartment community in Exton, PA. The $2.4 million floodplain restoration, an identified priority by the Pennsylvania Department of Environmental Protection (DEP), will restore the site’s floodplain to provide cutting-edge stormwater management and deliver several other significant environmental benefits, including mitigating erosion, revitalizing and expanding local habitats, reducing pollution, and improving local water quality.
The Hamilton at Eagleview residential community will be completed in three phases, with plans to deliver more than 300 luxury apartments to the site. Hamilton Passive House project partners include NORR (architecture/structural design), DAS Architects (interior design), MaGrann Associates (Passive Housing and LEED consultation), ProtoGen (solar concept design), and Solar States (solar design and installation). Hankin Construction served as the general contractor.
For additional information on Hamilton at Eagleview, please visit www.hamiltoneagleview.com.
About Hankin Group
Located in Exton, Pennsylvania, Hankin Group is a full-service, family-owned real estate company who designs, develops, and manages residential and commercial properties. For more information about Hankin Group and its projects, please visit www.hankingroup.com.
About Hankin Apartments
Hankin Apartments is a premier property management company dedicated to providing exceptional living experiences across our diverse portfolio of residential communities. With a commitment to quality, innovation, and sustainability, we offer a range of modern, well-appointed apartments designed to meet the needs of today’s discerning renters. Our properties are strategically located in vibrant neighborhoods, offering convenient access to amenities, transportation, and local attractions. At Hankin Apartments, we prioritize resident satisfaction through superior customer service, state-of-the-art facilities, and a welcoming community atmosphere. Discover your next home with Hankin Apartments, where comfort and convenience come together. Learn more at www.hankinapartments.com.
Hankin Group Announces Kimberton Whole Foods to Open at Eagleview Town Center in 2026
The grocer’s largest Chester County store will deliver locally sourced, natural, and organic products in Exton, PA
EXTON, PA (October 3, 2024) – Hankin Group, a vertically integrated real estate company, is pleased to announce Kimberton Whole Foods, an independent, family-owned and operated grocery store, will open its largest Chester County location at Eagleview Town Center in the spring of 2026. Construction on the brand-new, 14,000 square foot grocery store on Rice Boulevard will begin this month.
Kimberton Whole Foods at Eagleview will offer a wide selection of fresh organic produce, grass-fed meats and dairy, specialty cheeses, natural and organic grocery staples, baked goods, supplements, body care, and more. Customers will also have access to a full menu of wholesome grab-and-go meals, including wraps, sandwiches, salads, soups, grain bowls, sushi, heat-and-eat dinner entrées, raw foods, and more. Online shopping and curbside pickup will be available.
“Located conveniently near I-76 and Route 100, Kimberton Whole Foods at Eagleview is set to become the top natural grocery destination for residents of Eagleview, Chester Springs, and surrounding areas,” said Sam Sherrill, commercial leasing manager, Hankin Group. “Kimberton Whole Foods is a tremendous addition to the vibrant mixed-use Eagleview community, providing residents, commercial tenants, and guests with a premier sustainable, walkable grocery option.”
“Eagleview is the perfect location for our eighth store, allowing us to expand our family-owned company and widen our distribution of products from local farmers and food producers,” said Ezra Brett, chief operations officer, Kimberton Whole Foods. “We look forward to serving Eagleview and the surrounding communities with healthy, locally sourced grocery options in a customer-focused environment.”
Eagleview is an award-winning, 800-acre mixed-use community located in Chester County, PA. The master planned community boasts over 1,000 residences, 2.5 million square feet of distinctive commercial office and life science space, and over 50,000 square feet of prime retail space. Eagleview’s thoughtfully designed system of sidewalks, jogging paths, and greenways create a unique experience that seamlessly integrates the residential, commercial, and retail aspects of the community.
Hankin Group will also expand its Claremont on the Square luxury apartment community with the addition of 41 new apartment units above Kimberton Whole Foods. The brand new, LEED-certified lifestyle community will offer top-of-the-line amenities, including on-site parking, bike storage, pet spa, work pods, and more. Plans also include a 4,850 square foot outdoor amenity terrace with seating and lounge space, fire pit, grilling area, tv, and turf gaming area.
Kimberton’s Eagleview location will be centered at the heart of Eagleview Town Center, adjacent to ACAC Fitness & Wellness and surrounding retail. Kimberton Whole Foods also operates stores in Collegeville, Douglassville, Downingtown, Kimberton, Malvern, Ottsville, and Wyomissing.
“Kimberton Whole Foods’ commitment to community and sustainability, and its dedication to supporting local vendors aligns perfectly with Hankin Group’s vision for Eagleview Town Center as a hub of community engagement and sustainable living,” added Bob Hankin, president and CEO, Hankin Group.
Kimberton Whole Foods is committed to giving back to the communities it serves through its Rounding Up at the Register program, which allows customers checking out to round up to the nearest dollar, with all proceeds donated to local nonprofit organizations. All funds raised are matched by Kimberton Whole Foods.
In addition to Kimberton Whole Foods, Hankin Group also recently announced the expansion of Frontage Laboratories, a full spectrum CDMO, and the addition of Fruh Packaging, a Swiss pharmaceutical packaging company, at 240 Sierra Drive in Eagleview, and the construction of Haywood Business Park’s 70,000 square foot expansion.
For more information on the luxury apartments at Claremont on the Square, please visit www.claremontonthesquare.com or call (855) 998-6564.
About Hankin Group
Located in Exton, Pennsylvania, Hankin Group is a full-service, family-owned real estate company who designs, develops, and manages residential and commercial properties. For more information about Hankin Group and its projects, please visit www.hankingroup.com.
About Kimberton Whole Foods
Founded in 1986, Kimberton Whole Foods is a multigenerational family business with a commitment to providing locally sourced, organic products. Kimberton Whole Foods prioritizes partnerships with over 200 local producers within a 100-mile radius of its distribution center in Downingtown. With seven locations throughout southeastern Pennsylvania, including Kimberton, Douglassville, Downingtown, Ottsville, Malvern, Collegeville, and Wyomissing, each offers a welcoming, community-focused experience that prioritizes developing relationships with customers and community partners.