Boscov: Mall At Steamtown Changes Must Get My Approval

Repurposing the troubled Mall at Steamtown as a Reading Terminal-style market, a casino or a skating rink will remain a dream.

That is because the mall’s lease agreement with Boscov’s Department Store allows the anchor tenant to veto significant changes like that, said department store chairman Al Boscov in an interview at The Times-Tribune, a Times-Shamrock newspaper, on Monday.

Boscov’s Department Store will likely be among bidders in the June 1 – 3 auction of the Mall at Steamtown and the goal will be to buy the mall and keep the mall all — or predominantly — retail, he said.

Boscov wants to keep people with ideas of re-purposing the mall, some of whom he called “cranks,” away from the auction scheduled by LNR Partners, the mall’s caretaker since it was taken over by lenders following foreclosure.

Read more:

http://citizensvoice.com/news/boscov-mall-at-steamtown-changes-must-get-my-approval-1.1883885

Grass-Roots Effort For A Marketplace In The Mall At Steamtown Continues

SCRANTON, PA — The idea of a Reading Terminal Market marketplace in the Mall at Steamtown is gaining momentum.

The concept to create a marketplace in a portion of the mall began nearly two months ago as brothers, Michael and George Boyd, both of Scranton, started a Facebook page to gauge public’s interest to save their city’s retail hub.

Thousands in Lackawanna and Luzerne counties have weighed in on the idea. Last month, the Boyd brothers said the positive responses were “overwhelming.”

Today the Facebook page, Reading Terminal Market at the Mall at Steamtown, has more than 5,800 “Likes” and is getting people talking about how to revive the mall.

Read more: http://www.timesleader.com/news/business-local-news/152278963/

Owen J Robert SD Loses $2 Million A Year Under Lowered Coventry Mall Tax Assessment

Map of Pennsylvania highlighting Chester County

Map of Pennsylvania highlighting Chester County (Photo credit: Wikipedia)

SOUTH COVENTRY TOWNSHIP, PA— The Owen J. Roberts School Board unanimously approved a real estate tax appeal settlement with Coventry Retail, LP, that lowers the assessed value of the Coventry Mall from $98 million in 2012 to $23.2 million in 2014.

The reassessment will equate to a loss of about $2 million a year in property tax revenues to the district.

In addition to the revenue loss, the agreement is retroactive to 2012, so the district will have to repay mall owners $1,619,799 of taxes paid in 2012, 2013 and 2014. In accordance with the agreement, $650,000 of that will be paid in cash within 60 days, according to attorney David L. Allebach Jr., who represented the board on this matter. The remaining funds will be credited to the mall against future taxes,

District officials had anticipated that cost and have reserved the full $1.6 million, according to district Chief Financial Officer Jaclin Krumrine. Therefore, the district has the $650,000 on hand to pay back the mall owner. The remaining nearly $1 million will help balance the 2014-15 budget to make up for the tax credit the mall will receive during that fiscal year.

Read more: http://www.pottsmerc.com/social-affairs/20140129/ojr-loses-2m-a-year-under-lowered-coventry-mall-tax-assessment

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In Search Of Progress, Downtown Wilkes-Barre Evolves

Map of Pennsylvania highlighting Luzerne County

Map of Pennsylvania highlighting Luzerne County (Photo credit: Wikipedia)

WILKES-BARRE, PA —In South Main Street’s first block, several storefronts are empty on the east side and recent demolitions on the other side have a dress shop waiting to reopen and a jewelry store working to re-establish itself.

Further down, the building that houses a longtime retailer has been sold and the former Bartikowsky’s building is expected to be soon owned by Wilkes University.

Changes have come to South Main Street — the city’s main retail artery — but sustained progress has remained elusive.

Jim Bellezza, owner of Bell Furniture at 95 S. Main St., purchased the building that houses the Outlet Army Navy Store at 113 S. Main St. for $159,000 on Jan. 3. An empty lot separates the two buildings and Bellezza plans to renovate the building and expand his business.

Read more: http://timesleader.com/news/news/1112993/In-search-of-progress-Downtown-W-B-evolves

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Under The Gun: Increase In Crime In Norristown Can Be Traced To Economic Decline

Location of Norristown in Montgomery County

Location of Norristown in Montgomery County (Photo credit: Wikipedia)

EDITOR’S NOTE:  This is Part One in a series examining crime in Norristown and possible answers to stem the tide.

NORRISTOWN — Renee Goldman remembers one of the sheer simplicities of Norristown’s golden age: leaving the door wide open on warm days.

She also remembers when crime — largely petty and non-violent, initially — slammed shut the door of her dad’s Main Street business and locked it for good.

“Eventually we went from keeping the door open when the weather was nice to keeping the door locked and opening it only when the customers came,” recalled Goldman, who began working at her father’s Custom Hearing Aids office in the 200 block of East Main Street as a teenager in the 1960s.

Back then she felt safe walking down to Woolworth’s on Main Street on whatever errand her dad, Henry Ginsberg, sent her on.

Read more:  http://www.timesherald.com/article/20130601/NEWS01/130609968/under-the-gun-increase-in-crime-in-norristown-can-be-traced-to-economic-decline#full_story

Granite Run Mall Management Addresses Middletown Council

Marquette Management, the new operators of Granite Run Mall, paid a visit to a Middletown Council meeting to share their plans for turning the mall around.  This news was met with much enthusiasm from council members and residents.  Middletown Township and the Rose Tree Media School District rely on the mall for a good portion of their tax base.

Marquette Management stressed Granite Run Mall is here to stay.  The company is committed to filling empty stores, making the mall more attractive, more secure and returning Granite Run Mall to its prominent place in the community.  When the forty empty stores are filled, it will add four hundred new jobs.  Marquette has eighty prospective tenants they are vetting to fill the empty space.

Marquette representatives will return to council in two months to update them on their progress.  We give Marquette Management two Roy’s Rants thumbs up for riding to the rescue and having a solid plan of action.