A once-aging industrial warehouse in Ambler with decades of wear and an uncertain future was recently reimagined as a community gathering place in the likeness of Philadelphia’s famed Reading Terminal Market.

A 12,500-square-foot property that houses multiple food and drink vendors and a second-floor event venue, Ridge Hall is now a year-round destination that’s bringing consistent foot traffic to the borough’s downtown. The project — led by Dan DeCastro, the owner of DeCastro Enterprises, and financed by C&N — represents one of the more ambitious adaptive reuse developments in Montgomery County in recent years.

A Calculated Risk — Backed by a Track Record

C&N began working with DeCastro Enterprises in late 2022 and closed on an acquisition loan in February 2023. At the time, the building was largely dilapidated and completely vacant.

Over the next year, DeCastro and his project manager, Russell Mahoney, worked through design, leasing, and redevelopment plans to convert the space into a multi-concept food and beverage hub. In early 2024, C&N closed on a construction loan. Construction wrapped in mid-2025, followed by a soft opening that summer. Ridge Hall is now fully operational, with most vendor spaces open and three awaiting final approvals.

For DeCastro, the project fits squarely within his development philosophy.

“Ground-up development is boring,” he said. “It’s cookie cutter. Everybody does the same thing.”

Instead, he focuses on distressed properties — buildings that require creativity, repositioning, and a clear vision for how they can serve a community differently.

That approach is rooted in experience.

From Second-Hand Sofas to Seven-Figure Deals

Long before he was repositioning industrial properties and reimagining underutilized buildings, DeCastro was honing his instincts in a far less glamorous corner of the market … Craigslist couches.

Not exactly the traditional origin story for a commercial real estate developer, but for the entrepreneurial DeCastro, who always knew he wanted to be his own boss, it worked.

He would scour listings for worn, overlooked furniture — the kind most people scrolled past without a second thought — then haul the pieces away, clean them up, make minor repairs, and resell them at a profit. It wasn’t always pretty work. Some couches came with stories — and smells — that required a little extra elbow grease and maybe an open window or two. But the margins were real, and so were the lessons.

“It taught me how to see value where others didn’t,” DeCastro said.

That early side hustle became more than just a way to make extra money. It gave him a repeatable playbook: find something underappreciated, improve it, and reposition it for a better outcome. And just as importantly, it gave him capital.

The profits from flipping furniture didn’t sit idle. DeCastro, who’s always considered himself a risk-taker, reinvested them into something he knew nothing about: residential real estate.

“I had to Google how to build a two-by-four wall,” he said, laughing.

He gradually built a portfolio of single-family and multifamily properties. Each deal built on the last, creating momentum and sharpening his understanding of acquisition, renovation, and resale.

After working in cell phone sales and later becoming a top sales representative in the security industry, he continued to scale his residential holdings, applying the same fundamentals he learned from those early couch flips: buy smart, improve strategically, and create value.

Over time, that portfolio grew into a meaningful platform. And when he reached what he describes as his 10-year mark in residential investment, DeCastro made a calculated decision. He sold off his holdings and shifted his focus entirely to commercial development, where the same principles could be applied on a larger stage.

“That’s when DeCastro Enterprises really took off,” he said.

The Annex: Proof of Concept

One of DeCastro’s first major commercial redevelopments was a former plastics manufacturing plant dating back to the 1950s. He purchased the property in late 2019, just months before the pandemic disrupted the market.

Despite the timing, the project succeeded. The building was repositioned as the Ambler Annex, a collaborative hub for small-scale artisans and independent operators. It attracted breweries, custom furniture makers, food businesses, and other entrepreneurial tenants.

Within eight months, the building reached more than 90 percent occupancy.

That success demonstrated two things: DeCastro could execute complex repositioning projects, and he could curate tenant mixes that built community rather than just filling space.

It also led to his introduction to C&N.

A Bank Willing to Finance the Unconventional

When DeCastro first met Thomas Howley, Vice President and Commercial Lending Relationship Manager at C&N in late 2022, the bank had not financed his earlier projects. Instead, DeCastro walked the management team through his completed redevelopment, showing them the transformation firsthand.

The experience helped build confidence in both the developer and his team.

When the Ridge Hall opportunity arose, C&N stepped in to provide acquisition and construction financing. According to DeCastro, that willingness to evaluate a nontraditional project was critical.

Traditional lenders, he said, often prefer straightforward, standardized developments — large apartment complexes or simple retail builds. Ridge Hall did not fit that mold.

“The big banks — the grandfathers of the industry — are too boring; all they want to do is finance traditional builds,” said DeCastro. “C&N was willing to take a risk with a very unique project. I mean, it doesn’t get any more unique than Ridge Hall.”

Equally important, he said, is accessibility.

“Any day, anytime — Sunday morning or Monday night — I can call Tom and get an answer,” DeCastro said. “That level of service makes a difference.”

A Visible Change in Ambler

DeCastro owns Ridge Hall with his girlfriend Michelle Marx, and the two have structured a plan to, after their passing, transfer ownership to the Ambler police department. The decision is rooted in DeCastro’s love for dogs and his desire to bring back the department’s K-9 unit.

That long-term vision for community impact, however, is already taking shape in the present.

The effect of Ridge Hall is measurable in foot traffic and visibility. What was once an empty industrial building now serves as an anchor in Ambler’s business district.

For C&N, the project adds a distinctive asset to its commercial lending portfolio.

For DeCastro, it reinforces a guiding principle: distressed properties, when paired with a clear vision and a responsive financial partner, can become catalysts.

Ridge Hall’s transformation from vacancy to vibrancy did not follow a standard development template. And that, DeCastro would argue, is precisely the point.

That mindset is already shaping what comes next. While details remain under wraps, DeCastro confirmed that his next development project is in the pipeline — and once again, it will be backed by C&N, continuing a relationship that has helped turn vision into reality.

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