Small Pennsylvania town locked in bitter dispute as billionaire buys up village to revamp under his control

Residents of a wealthy Pennsylvania village clashed with real estate developers this week after learning that a billionaire had quietly bought up much of the town’s commercial center, fueling fears that a single family now has outsized control over its future.

The backlash centers on Jeff Yass, Pennsylvania’s richest man, whose family has spent more than $15 million acquiring homes, storefronts and municipal property in Gladwyne, a community with a population of just under 5,000 and where the median home price exceeds $2.3 million.

At a packed public meeting in a school auditorium, developers working with Yass unveiled their first detailed plans for redeveloping the village center.

A moment that sparked both applause and skepticism from residents alarmed by the closure of businesses, rising rents and unanswered questions about the scope of the billionaire-backed project.

Standing before the crowd, Andre Golsorkhi, founder and CEO of design firm Haldon House, unveiled a massive redevelopment plan developed in partnership with Yass and his wife, Janine.

Golsorkhi billed the effort as a “community impact project,” insisting that the billionaire family’s intentions were rooted in preservation rather than profit.

But for a city already shaken by shuttered storefronts, the presentation aroused much suspicion and unease.

Over the past few years, Haldon House and the Yass family have acquired several properties clustered around the intersection of Youngs Ford and Righters Mill Roads – effectively the commercial heart of Gladwyne.

Gladwyne, Pennsylvania, a village of just under 5,000 people, suddenly finds itself at the center of a high-stakes fight for its future.

Controversy arose after Jeff Yass quietly bought out much of the village’s commercial core. Yass is pictured alongside his wife Janine Coslett

Redevelopment plans promise historic architecture, green spaces and independent retailers – but no chains or high-rises.

Those purchases include the former Gladwyne Market, the Village Shoppes, residential property on Youngs Ford Road, the Gladwyne Post Office building and the former OMG Hair Salon, which was leased and then vacated.

Two long-running venues, OMG Salon and Gladwyne Market, closed their doors last year after the acquisitions rippled through the community, fueling rumors about what was to come.

Gladwyne has long appreciated its small-town atmosphere and local businesses, even though it is one of the wealthiest zip codes in the state.

The idea that a billionaire family now controls much of the village center has worried some residents, especially since redevelopment plans have remained opaque until now.

“There was a lot of valid and justified concern,” Golsorkhi acknowledged during the meeting, as reported by the Philadelphia Inquirer.

Renderings presented by Haldon House show a carefully curated version of Gladwyne’s future: preserved stone architecture from the late 1800s, wraparound porches, ivy-covered walls, Adirondack chairs, hydrangeas and branded “Gladwyne Square” signage.

The plan calls for new green spaces, pedestrian paths and a mix of small, independent retailers.

Golsorkhi stressed that there would be no residential development, no national chain stores and no high-rise buildings.

The renderings emphasize Adirondack chairs, hydrangeas and pedestrian walkways meant to evoke a timeless village square.

Wide green lawns, picnic tables and open gathering spaces feature prominently, projecting a quiet, upscale community center.

Gladwyne Pharmacy is set to stay, with developers helping to “reimagine” its layout and customer experience.

Gladwyne Market, a longtime community staple, was closed after its building was acquired by developers.

Andre Golsorkhi, CEO of Haldon House, has become the public face of the project, insisting that the billionaire-backed overhaul is a community-driven effort rooted in preservation rather than profit.

Existing tenants like local cafe Homeroom and Gladwyne Pharmacy would remain, while the former Gladwyne Market site would become a “casual, yet elevated and approachable” restaurant.

“This is a place where we grew up, that we love and care for immensely,” Golsorkhi told meeting attendees.

“He was protected for all the right reasons, but he also didn’t evolve.” It needs revitalization.

Golsorkhi and his wife, Autumn Oser, co-owner of Haldon House, are both from the Gladwyne area, a point he repeatedly emphasized as residents questioned the motivations behind the project.

But not everyone is convinced.

“I just wonder what the bottom line is,” one resident said during the question-and-answer session.

“There’s always a price to pay for that, for someone to come along and say, ‘I’m going to make your community really, really cool and don’t worry about the money.’

Golsorkhi said the Yass family was willing to absorb the costs of the redevelopment, but it was too early to predict a timeline.

He has repeatedly described the effort as part investment and part philanthropy.

The Gladwyne Post Office, also purchased as part of the redevelopment, became a hotspot after confusion over whether its services could potentially be reduced or moved.

OMG hair salon closed after a steep rent increase, becoming a flashpoint for critics of the project

Home Room cafe set to expand and become part of village’s future under plan

They have already worked closely with Gladwyne Pharmacy to help them “reinvent” their design and customer experience with “no expectation of return”.

“We’re doing this because we think Gladwyne’s consistent experience and character is really important,” Golsorkhi said, adding that the pharmacy’s footprint had grown in a way that no longer best served the company or the community.

Developers have also floated ideas to expand green spaces, add picnic tables and lawns, and create venues for community events.

Independent bakeries, fitness studios and ice cream parlors are among the businesses they hope to attract.

One of the flashpoints involved the Gladwyne Post Office, which Golsorkhi said was “withdrawing its services,” raising the possibility of a consolidated shipping center combining USPS, UPS and FedEx.

But Paul Smith, public affairs manager for the U.S. Postal Service in the Philadelphia area, said the Gladwyne Post Office remains open for retail transactions and postal services and that the post office itself will not close.

Behind the polished renderings and talk of preservation, business owners say the transition has come at a personal cost.

Other small stores around Youngs Ford and Righters Mill Roads now find themselves at the center of redevelopment uncertainty.

Gladwyne is popular with residents for its historic charm, close-knit community and small-town atmosphere.

Longtime residents fear village identity being reshaped by billionaire’s vision

Maurice Tenenbaum, owner of OMG Hair Salon, said the building’s owners more than doubled his rent last fall, forcing him to abandon the space.

Pete Liccio, the former owner of Gladwyne Market, said he also felt left out after decades of serving the community.

Some residents left the meeting energized, saying the proposal was long overdue.

“What I see here is a center of gravity and an identity for Gladwyne that is well-deserved and long-needed,” one attendee told the Inquirer.

Others left unconvinced, wary of a future largely shaped by the vision of a billionaire.

“This is an investment and a philanthropic effort,” Golsorkhi told the crowd.

“I understand and recognize that this is a difficult thing to believe.”