One MarketWay West Undergoing Major Revamp, Adding Eatery, Apartments

A largely underused building in the heart of York City will once again be a bustle of activity as its massive renovation project gets underway.

The massive One MarketWay West will be home to a restaurant, a flagship bank branch, apartments, an underground parking garage and more, said the father and daughter team who owns the building that was once Bear’s Department Store.

The owners and a redevelopment official say the amenities will not only attract people to the city for a bite to eat but also bring more residents to its downtown core.

“There will be people living here. There will be people coming back to the city,” said Patricia Will, a partner with One West, the company that owns the building.

Read more:

http://www.yorkdispatch.com/breaking/ci_28250253/one-marketway-west-undergoing-major-revamp-adding-eatery

Allentown’s Americus Hotel Revitalization Suffers Major Blow

English: City of Allentown from east side (Photo credit: Wikipedia)

Plans to revitalize Allentown’s historic Americus Hotel have suffered a major blow that could set the project back multiple years, according to the hotel owner.

Albert Abdouche said financing for the $16.5 million renovation project has fallen through due to an Allentown authority’s hesitation regarding his plans.

As a result, Abdouche said he is no longer seeking to tap into the Neighborhood Improvement Zone, Allentown’s 127-acre special tax district, to finance the project.

Instead, Abdouche plans to make $1 million in improvements to the first floor with private money, then perhaps return to the Allentown Neighborhood Improvement Zone Development next year to finance the rest of the hotel renovations.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/09/allentowns_americus_hotel_revi.html

BNY Mellon To Cut Workforce By Three Percent

Image via Wikipedia

Bank of New York Mellon is cutting 1,500 jobs world-wide to reduce costs.  While the company is generating excellent revenue, expenses are up 20 percent over this time last year.  A hiring freeze is being implemented as well as a cut back on temps and contract workers.

BNY Mellon is a LARGE employer in the Pittsburgh region.  There are about 7,700 BNY Mellon employees, mostly in downtown Pittsburgh.  BNY Mellon has targeted Pittsburgh as a low-cost global growth center!  That means BNY Mellon will continue to move jobs to the Pittsburgh region.  This is excellent news for Pittsburgh and Pennsylvania!

Fulton Bank Asserts Dominance In Lancaster Financial Services Market

Fulton Bank has asserted its dominance in the Lancaster County financial services market and expanded its lead over number two rival Susquehanna Bank.

Fulton Bank has 23.09% of all Lancaster County deposits, up from 21.3% last year.  Fulton increased its lead over rival Susquehanna Bank from 3.37% to 5.14% over last year.  Both banks are based in Lancaster County.  Susquehanna Bank is based in Lititz and Fulton Bank has its headquarters in Lancaster City on historic Penn Square.

Fulton Bank has a branch in Pottstown located at 799 State Street in the Pottstown Plaza shopping center.  Susquehanna Bank maintains a very visible presence downtown Pottstown occupying a 5-story building at the corner of High and Hanover Streets.

Fulton Bank has been named one of the best places to work in Pennsylvania for 2010 in the large company category.  http://www.fultonbank.com/viewpage.asp?n=3

Fulton Bank has just announced plans to expand their corporate headquarters in Lancaster City and add 225 more employees.  The building project will be between $15-$20 million dollars.  To see the details click here: http://articles.lancasteronline.com/local/4/300590