John and James Korman standing together


Korman Ventures is launched to form strategic partnerships with institutional and private investors to acquire opportunistic and core multifamily properties and portfolios.
Korman apartment with floor to ceiling windows showing the city outside


Korman Residential Properties transacts over $600 million of multi-family asset acquisitions and dispositions between 2010-19. Korman expands its operations through acquisitions of land and apartments in Florida. Korman introduces its Management+ program and secures incentivized management contracts for assets located in Pennsylvania and Delaware. Korman celebrates its 100-year anniversary in 2017.
Korman Executive Team


Korman develops apartment and hotel properties in Center City Philadelphia and adjacent to Philadelphia International Airport. Korman serves as third-party manager for two portfolios in Pennsylvania totaling over 2,000 units. Korman Residential Properties is formed in 1996 to acquire and manage multi-family properties and portfolios.
Korman Catalina buiding exterior


Korman enters into a joint venture with Resorts International to develop housing near Atlantic City, NJ. Korman accelerates sales activity in the company’s land bank. Korman syndicates several entities in its various residential portfolios. Korman converts the Plaza Apartments into the Palace Hotel in partnership with Trusthouse Forte. Korman partners with SmithKline and Philadelphia Electric to develop Franklintown, a Center City Philadelphia mixed-use community of high-rise apartments, office buildings and public spaces.
Photo of a high rise apartment building


Korman phases out of its homebuilding business and began its Builder Program partnering with residential homebuilders to monetize the company’s land holdings. Korman continues apartment development throughout Pennsylvania and New Jersey emphasizing resort-style living. Korman expands its extended-stay program to meet the short-term housing needs of its corporate customers.
Old newspaper article featuring a story on Parkwood Manor


Korman enters into a joint venture with Reynolds Metals Co. to develop the largest urban renewal project in the country (comprising 5,000 homes and apartments, two shopping centers, and a business park). Korman develops the Neshaminy Mall in Bucks County, PA, as well as the Plaza, a 28-story apartment tower in Center City, Philadelphia. Korman assembles land tracts throughout PA and NJ providing sites for three major developments containing over 10,000 homes and 6,000 apartments.
Vintage photo of a construction crane


Korman accelerates large scale residential & commercial development in Philadelphia and Montgomery County, PA. Korman acquires land parcels for additional residential & commercial development.
Vintage photo of a truck with crane filling the bed


Korman continues residential and commercial development in Northeast Philadelphia. Korman purchases Frankford Supply Co., which becomes the major building material supplier in the Philadelphia area. Korman acquires Lansdale Brick Co and BMPD, Inc., a wholesale distributor of building materials.
Vintage photo of a home


Korman begins developing apartments and shopping centers and continues its home building business.
Vintage photo of a home


Hyman Korman acquires additional farms and incorporates to build homes in large developments.


Hyman Korman acquires the Hamilton Farm in Northeast Philadelphia for residential development.