EXHIBIT 23.4


                         CONSENT OF INDEPENDENT AUDITORS
                         -------------------------------



         We consent to the reference to our firm under the caption "Experts" and
to the use of our report dated January 15, 2002, with respect to the financial
statements of Lehigh Valley Associates incorporated by reference in this
Registration Statement (Form S-3) and related Prospectus of Pennsylvania Real
Estate Investment Trust for the registration of 421,412 shares of beneficial
interest.

/s/ Ernst & Young LLP


Philadelphia, Pennsylvania
October 15, 2003