PLYMOUTH MEETING, Pa., March 17, 2026 (GLOBE NEWSWIRE) -- AVE, the residential brand of Philadelphia-based Korman Communities, in partnership with Ensemble Investments (Ensemble) and Mosaic Development Partners (Mosaic), today announces the official opening of AVE Navy Yard (1200 Normandy Place/1225 Constitution Avenue), introducing a new option of apartment living in Philadelphia at the historic waterfront.
AVE Navy Yard anchors Philadelphia’s first new neighborhood in a generation, delivering 614 contemporary apartments across two complementary communities – Normandy and Constitution – along with 75,000 square feet of on‑demand wellness, business and leisure amenities and 25,000 square feet of restaurant and boutique retail space. The Navy Yard neighborhood – an expanding live-work-play district home to 150 companies – offers residents extensive green space, waterfront views and easy connectivity to Center City, Philadelphia International Airport (PHL) and the Philadelphia Sports Complex.
“AVE Navy Yard is the result of decades spent listening to what our residents value most,” said Brad Korman, Co-CEO of Korman Communities. “Coming off our recent recognition as the best apartment management company in America for the fourth consecutive year, we remain focused on what matters: genuine hospitality and best‑in‑class amenities. We’re excited to bring that experience to Philadelphia’s newest neighborhood.”
“The opening of AVE Navy Yard represents a major milestone in the transformation of the Navy Yard into Philadelphia’s newest neighborhood,” said Brian Cohen, Managing Director, Ensemble Investments. “For decades, the Navy Yard has been a place where people come to work. Now, with the arrival of its first residential community, we’re creating a true live-work-play environment where residents can live steps from innovative companies, waterfront parks, and new retail and dining. This is exactly the kind of sustainable, mixed-use growth the Navy Yard’s long-term plan envisioned.”
AVE Normandy
With a focus on elevated apartment living, AVE Normandy offers flexible-stay, furnished apartments and luxury apartment rentals. Spacious residences feature chef‑inspired kitchens, spa‑like bathrooms with glass‑door showers or deep‑soaking tubs, built‑in desks and closet systems, and in‑home Whirlpool washers and dryers. Market rents for luxury apartment rentals start at $2,771 for one-bedrooms; $3,783 for two-bedrooms; and $7,369 for three-bedrooms. Furnished apartments are curated with Restoration Hardware furniture and Crate + Barrel kitchenware.
The community features 30,000 square feet of amenity space, designed to enhance resident lifestyle and work performance well beyond typical multifamily offerings. Standout leisure amenities include a resort‑style pool and sundeck; gaming lounge with billiards; golf simulator; an expansive 24/7 fitness center with seven private fitness pods; soundproof recording studio for podcasting and music; pet spa; and a Zen courtyard with fire‑pit lounge.
Business amenities include AVE’s most extensive business space to date – a boardroom, multi‑size conference rooms, 12 individual work pods, a business center and flex workspaces, plus a café with hot beverage bar, lounge and library.
AVE Constitution
Designed for the modern lifestyle, AVE Constitution features luxury, market rate and income-restricted, affordable apartments, all boasting nine-foot ceilings with floor-to-ceiling windows; fully accessorized kitchens with Samsung stainless steel appliances; spa-like bathrooms offering showers with glass doors or deep-soaking tubs; spacious closets; and Whirlpool washers and dryers in each apartment. Market rate rents start at $1,928 for studios, $2,030 for one-bedrooms, and $3,007 for two-bedrooms. Income-restricted, affordable apartments are also available with rents based on household income.
Featured amenities include a social lounge with television viewing area and fireplace; gaming room with poker table; outdoor courtyard with grills; expansive 24/7 fitness center with seven fitness pods; coffee bar; business center with individual work pods; private party room; and pet spa.
Neighborhood
Named the largest LEED Neighborhood Development (ND) in the United States and certified LEED‑ND Gold, the Philadelphia Navy Yard features 20 acres of green space across five parks and six miles of waterfront. The neighborhood offers close proximity to Lincoln Financial Field, Citizens Bank Park and Wells Fargo Center, as well as convenient access to Center City. The area is also located five miles from Philadelphia International Airport.
AVE Navy Yard is now leasing and open for move-ins. For more information and to submit an application, visit: liveatthenavyyard.com.
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About AVE and Korman Communities
Korman Communities is a fully integrated, fifth-generation, 100-year-old real estate investment and property management company with nearly 40 properties across the United States and London. AVE specializes in elevated apartment living for discerning renters and individuals seeking a flexible living solution for business or personal lifestyle. AVE conveniently offers traditional unfurnished apartments along with fully furnished apartments with flexible lease options. Each community features a dedicated service team and unparalleled business, wellness, and leisure amenities such as flex workspaces with gigabit Wi-Fi; resort pools; firepit lounges; 24-hour, state-of-the-art fitness centers; wellness classes; bike share; tranquility gardens; pet spas and parks; media theaters; and outdoor gaming and recreation. Ranked the No. 1 property management company in the U.S. based on renter satisfaction for the last four consecutive years, AVE provides comfort and seamless living for those who want to LIVE BETTER®. Learn more at: www.aveliving.com.
About Ensemble/Mosaic
Ensemble/Mosaic is a joint venture between Ensemble Investments, LLC and Mosaic Development Partners JV. The partnership is the exclusive developer of a 109-acre mixed-use development at the Navy Yard in Philadelphia, including office, life science, retail, hospitality and the first residential complex to be built in the community. Ensemble/Mosaic, in partnership with PIDC, directed the creation of the 2022 Navy Yard Comprehensive Plan. Ensemble/Mosaic has pledged $1B over 20 years to diversity, equity and inclusion (DEI) hiring and initiatives. Ensemble Investments, LLC, established in 1989 and with offices in Long Beach, California, Philadelphia and Phoenix, has successfully invested and developed more than $2 billion in real estate across the United States. Mosaic Development Partners JV is a Philadelphia-based, minority-certified (MBE) commercial real estate development firm established in 2008. Mosaic focuses on ground up development and adaptive reuse of land and buildings. For more information, visit http://www.ensemblemosaic.com, www.ensemble.net, and www.mosaicdp.com
Ashley Cerasaro AVE by Korman Communities 570-956-0577 acerasaro@aveliving.com Jenna Koeble Evins Communications 2126888200 jenna.koeble@evins.com
