1920s | Early Development & Expansion

Throughout the 1920s, Korman acquired additional farmland and began building homes at scale, forming the foundation of a residential development business rooted in Northeast Philadelphia.

1930s | Resilience Through the Great Depression

In 1933, the family business was incorporated. Despite economic conditions, Korman expanded development and management operations into apartments and neighborhood retail while continuing homebuilding.

The company also provided mortgage financing to homebuyers—an early example of creative capital solutions to sustain growth and community development.

1940s | Post-War Growth & Vertical Integration

Following World War II, Korman rapidly expanded to meet housing demand for returning veterans.

To support scale, the company vertically integrated—acquiring building supply and materials businesses, which allowed greater control over cost, quality, and delivery.

1950s | Scaling Residential & Commercial Development and Management

Large-scale residential and commercial development accelerated across Philadelphia and surrounding suburbs, as Korman continued assembling land for future growth.

At the same time, Korman expanded its fully integrated management platform, overseeing both residential communities and commercial properties with a long-term ownership mindset—prioritizing operational excellence, resident experience, and sustained asset performance across its growing portfolio.

1960s | Master-Planned Communities & Institutional Partnerships

The 1960s marked a transformative period of scale and ambition.

Korman developed large master-planned communities totaling 10,000+ homes and 6,000+ apartments and built major retail destinations including Neshaminy Mall. Additionally, Korman entered joint ventures, including one with Reynolds Metals to develop one of the largest urban renewal projects in the country.

The company also expanded into Center City Philadelphia with landmark high-rise residential development.

1970s | Lifestyle Living & Early Flexibility

Korman shifted its focus away from homebuilding and toward multifamily development and management and land monetization strategies.

During this decade, the company:

• Introduced resort-style living at its apartment communities
• Expanded into furnished and short-term housing, anticipating modern flexible living trends
• Continued large-scale development across Pennsylvania and New Jersey

1980s | Partnerships, Mixed-Use, and Capital Markets

The 1980s brought increased sophistication in capital structuring and partnerships. During this decade, Korman:

• Formed strategic joint ventures with Resorts International and others
• Converted the Plaza Apartments into the Palace Hotel in partnership with Trusthouse Forte
• Participated in major mixed-use developments including Franklintown in Center City Philadelphia
• The company began syndicating assets and repositioning its portfolio.

1990s | Transition to Owner-Operator Platform

In 1996 the Korman Company spun off its management operations into three distinct companies. Korman Residential Properties was formed under the leadership of Berton E. Korman and his sons, John P. Korman and James S. Korman.

Korman Residential focused on:

• Acquiring and managing multifamily properties and portfolios.
• Best-in-class institutional-quality property management
• Expansion of furnished housing programs

Korman also developed apartment and hotel assets in Center City and near Philadelphia International Airport, while managing third-party portfolios exceeding 2,000 units.

2000s | Operational Excellence & Geographic Expansion

Korman strengthened its identity as a fully integrated management company.

Key developments included:

• Expansion into Delaware and Florida
• Significant acquisitions and repositioning of multifamily assets
• Investment in technology, including online leasing and resident services
• Continued growth of third-party management capabilities

The company also deepened relationships with institutional capital and lenders, enabling scalable growth.

2010s | Managing Investments to Maximize Returns

From 2010–2019, Korman transacted over $600 million in multifamily acquisitions and dispositions, while continuing to refine its operating platform.

Other milestones included:

• Launch of the Management+ platform for third-party and institutional clients
• Continued expansion across Pennsylvania, New Jersey, and Delaware.
• Celebration of 100 years in business in 2017

2020s  | LiveKorman & Korman Ventures

Under the leadership of John and James Korman, Korman Residential continues to carry this legacy forward. John’s sons, Dylan and Tyler, have entered the business and represent the company’s fifth generation of leadership. The company is actively pursuing multifamily management and investment opportunities in the Mid-Atlantic region.