<Page>

                                                                    Exhibit 23.1

CONSENT OF INDEPENDENT AUDITORS


We consent to the incorporation by reference in the registration statement
(File No. 333-97985) on Form S-3 of Pennsylvania Real Estate Investment Trust
of our report dated March 28, 2003 (except for Note 18, as to which the date
is June 9, 2003), with respect to the financial statements and schedules of
Crown American Realty Trust, as amended, contained in the exhibits to this
Form 8-K of Pennsylvania Real Estate Investment Trust.


                                                     /s/ ERNST & YOUNG LLP
                                                     ERNST & YOUNG LLP

McLean, Virginia
August 12, 2003