By Josh McKnight | The McKnight Team
Upper Merion Township supervisors voted three to two on August 27 to approve a Greystar plan for a six story, 205 unit apartment building at 720 Vandenburg Road in King of Prussia. The vacant 85,000 square foot former Arcfield office building comes down first.
King of Prussia apartments have not been built in three years. Upper Merion has delivered zero new multifamily units in that span while average rent climbed to $2,170 as of July.
What Gets Built and What It Replaces
The unit mix runs 114 one bedrooms, 87 two bedrooms, and four three bedrooms. Add 261 parking spaces, a pool, and roughly 5,800 square feet of amenity space that includes a fitness center and co working rooms.
The site sits near Park Square Apartments, within walking distance of the Schuylkill River West Trail and Heuser Park. This would be the third Greystar project in King of Prussia, joining Skye 750 and Indigo 301.
Two supervisors voted no. Their objections were specific: no affordable housing component, and a six story building that stands taller than what surrounds it. One suggested fewer units. The project was first proposed last year and took that long to reach a vote. If you have watched a plan move through Upper Merion before, that timeline will not surprise you.
What 205 New King of Prussia Apartments Actually Do to Home Values
Adding rental supply is usually framed as a threat to nearby owners. That framing gets the mechanism backward. Rent at $2,170 a month is what pushes households toward buying. Supply that softens rent slows that push.
Set that against what the numbers show right now. The average King of Prussia home value is $507,983, up 3.3% over the past year, and homes go to pending in around eight days, per Zillow data through July 31, 2026.
Two hundred and five units will not move a number like that. The effect that matters is slower and smaller: a few more renters who stay renters, and a few fewer bidders on the same eight day listings. That is the number that touches your offer, and it moves by a hair.
Why Three Years Without New Units Is the Real Story
A township with the size and job base of Upper Merion delivering nothing in three years is not a policy choice anyone made out loud. It is what happens when each project gets fought one vote at a time.
The affordable housing objection deserves a fair hearing. A 205 unit building with no income restricted units does not help the households under the most pressure, and the supervisors who raised it were not wrong to raise it. Reasonable people land differently on whether blocking market rate supply helps those households or hurts them. What is not in dispute is that rent went up while nothing got built.
The other thing worth watching is the office building itself. An 85,000 square foot vacant office coming down and going residential is the pattern of this decade, in King of Prussia and in Center City both. The next wave of King of Prussia apartments will almost certainly come from the same source, which is vacant commercial square footage rather than open land. If you own near commercial property anywhere in Upper Merion, tell your neighbor to watch what trades next.
What This Means for You
If you are selling in King of Prussia, nothing about this approval changes your pricing this fall. Construction has not started and delivery is years out. If you are buying, the calculation is different. You are competing against renters who are watching rent climb and deciding to stop, and that competition does not ease until units actually deliver. Your edge this fall comes from being ready to move the day a listing hits, not from waiting on supply that arrives in 2029.
The wider Upper Merion and Plymouth corridor absorbs a lot of that demand when King of Prussia inventory runs thin, and we can pull closed comps for both if that helps you decide. The Plymouth Township market is the cleaner comparison when you are weighing your commute against your budget.
Thinking about buying or selling in King of Prussia? Let’s talk.
