• In 1995, Steven and his sons take The Korman Company in a new direction, and Korman Communities becomes a stand-alone company. Their goal is to evolve the Korman Suites concept and expand outside the Philadelphia area. Today Korman Communities is managed by the family’s fourth generation. Steven’s sons Larry and Brad serve as co-CEOs.

  • In 1997 Korman Communities recognizes a need in major cities for luxury extended-stay apartments with hotel services. Rittenhouse 222 in Philadelphia becomes the company’s first urban high-rise of this nature.

  • In 2008, the company announces three exciting new brands: AKA, AVE and ARK.

Steven’s oldest son, Larry, joined the company in operations in 1986, and his second son, Brad, in finance in 1987. His youngest son, Mark, joined later in 1994 as head of the commercial division. Larry made his first mark on The Korman Company by introducing the idea of synergy, the whole being more valuable and effective than the individual parts. Until then, all 23 Korman apartment communities operated independently of each other, each with their own operation standards and marketing identity. In 1987, all 23 properties became one brand, Korman Suites.

Korman Communities Inc., with Larry and Brad Korman as co-CEOs, emerged as a stand-alone company in 1995 and continued to evolve the Korman Suites concept, expanding into Delaware, Virginia, North Carolina, and Georgia. In 1997, recognizing an unmet need in major cities for luxury extended stay apartments with hotel services, Korman renovated Rittenhouse 222, the first building they operated as 100% furnished suites. This building would be the origin of a new brand, AKA, with the purchase, renovation, and repositioning of eight high-rise properties in coveted urban areas, including four in midtown Manhattan. AKA became a national and international brand in 2012 with the opening of AKA Beverly Hills and AKA West End in London.

In 2008 Larry and Brad named three women, each with the company for more than 20 years, to lead the company's three exciting new brands: AKA, a portfolio of urban, luxury extended-stay serviced residences; AVE, a collection of suburban, garden-style and mid-rise furnished and unfurnished residences; and ARK, the original portfolio of garden-style apartment communities nestled in key Philadelphia suburbs.