Ellis Preserve: Two Decades of Collaboration and Innovation

In the competitive landscape of Southeastern Pennsylvania’s real estate development, few projects can match the scale, complexity, and lasting impact of the Ellis Preserve Town Center Development in Newtown Square, Pennsylvania.

This ambitious undertaking turned a historic campus into a thriving mixed-use community, setting a new standard for suburban development in the region. 

At the heart of this extensive project is the partnership between Equus Capital Partners and Glackin Thomas Panzak, now RGS Associates. This collaboration, which began with Glackin Thomas Panzak (GTP) in 2004, has stood the test of time, weathering challenges and adapting to changing market conditions. In 2021, GTP merged with RGS Associates, and earlier this year, the brands unified under the RGS banner, bringing together decades of expertise and local knowledge.

The Ellis Preserve story is one of vision, perseverance, and strategic collaboration. John Forde, Senior Vice President of Development at Equus, and Lisa Thomas, RLA, AICP, and Principal at RGS Associates, were two key figures in this massive undertaking. Their experiences and insights illuminate the intricacies of large-scale development in Southeastern Pennsylvania while also illustrating the value of strategic partnerships in the industry. 

The Origins of Ellis Preserve

The journey began in 2003 when SAP America, which owned the 219-acre campus and its historic buildings, decided to divest the property.

“SAP realized they were better suited for the technology world than the real estate world,” John recalled. “They reached out to a select number of developers throughout the country. We were included in that list, and I think we were the only local group SAP reached out to.”

Equus won the bid and closed on the campus in August 2004. This acquisition marked the beginning of a long and winding development process that would span nearly two decades.

A Partnership Forms

John joined Equus in early 2004, specifically to work on the Ellis Preserve project. It was during this time that he connected with the GTP team.

“Steve Spader, our current president and CEO, had a relationship with one of their principals, Dennis Glackin,” John said. “They, along with Bob Dwyer, had worked together on a few Equus projects prior to Ellis Preserve.”

The existing relationship, combined with the Equus’ proximity to the site, created a natural fit. 

Challenges and Triumphs

The development of Ellis Preserve was far from straightforward. John described the process as “definitely difficult.”

The team faced numerous challenges, including:

• Community Engagement: “Between 2004 and 2009, we had over 120 meetings at night,” John said. “We had focus groups and meetings at the township. Some meetings had over 500 people at the local high school.”
• Competing Stakeholder Interests: “We had to deal with a lot of different groups in town,” John said. “The Save Open Space folks, the historical groups… They were looking for assurances that there would be adequate open space and preservation of the historic buildings.” 
• Legal Hurdles: The project faced legal challenges from a neighboring developer, which led to a lengthy legal process. “It went through the zoning hearing board, then the Court of Common Pleas, then the Commonwealth Court, and ultimately to the Supreme Court of Pennsylvania,” John said.
• Changing Economic Conditions: Over the 20-year period, the team had to adapt their plans to evolving market demands. “We started out with over 300,000 feet of retail in phase two,” John said. “In today’s world, that’s just not achievable. We scaled it back to about 91,000 square feet of retail and added more residential than we had originally planned.”
• Despite these challenges, the team persevered. A major milestone came in September 2014 when they received a favorable decision from the Pennsylvania Supreme Court. 

“Literally, we filed building permits within 30 or 45 days of that decision,” John said.

The Role of RGS Associates

Throughout the development process, GTP, now RGS Associates, played a crucial role. John praised the Paoli team’s expertise and leadership.

“They took the lead at our project meetings,” he said. “They were instrumental in guiding the other architects and consultants.” 

He highlighted the firm’s unique capabilities.

“There’s a lot of firms that do landscape design, but these folks can do much more than that,” John said. “If we need a property rezoned, they can draft an ordinance. They’re more of a technical expert in zoning than what you see at other landscape architecture companies.” 

Working with Equus on the Ellis Preserve project, certainly had its challenges, Lisa said. But it also had its rewards.

“It’s been so much fun, and I think part of it is because the projects have been so hard, she said with a laugh. “They’re complex, they’re challenging. But there’s just a lot of good back and forth and creativity in terms of how to solve the problems and get to where we all need to be on the project.” 

The Final Phase and Looking Ahead

As of 2024, Ellis Preserve is in its sixth and final phase. The project includes retail space, residential units, a hotel, and innovative office spaces, including the first mass timber office building in the Philadelphia suburbs.

“From a construction standpoint, the last phase of the buildings are up right now., John said. “The landscaping is going in. For the retail portion, we’re 80% leased. The hotel will be complete by the end of this month. We have a fully leased office building. The residential units are about 80-85% leased right now.” 

A Lasting Partnership

The Ellis Preserve project stands as a testament to the power of collaboration and perseverance in real estate development. Over the course of two decades, Equus and RGS Associates’ Paoli team have not only revived a historic property, but have also forged a lasting professional relationship.

And this partnership extends well beyond Ellis Preserve. 

“They have been involved in numerous other projects with us, from multifamily developments to office projects and repositioning efforts,” John said. “But Ellis Preserve definitely stands apart.”

Through all the ups and downs of this important project, John said he got to know Lisa, Dennis Glackin, Bernard Panzak and the rest of the Paoli team quite well. 

“We were really more or less – I want to say ‘family,’” he said. “I mean, during those pivotal years, I was spending more time with them than with my own wife!”

As the real estate landscape in Southeastern PA continues to evolve, relationships like those between Equus and RGS will undoubtedly play a crucial role in shaping the communities of tomorrow.