Lancaster City Seeks Proposals For Bulova Building, Adjacent City Property

Lancaster city is formally seeking proposals for the vacant Bulova building and adjacent city-owned property in hopes of connecting a stagnant part of downtown.

The city intends to use eminent domain to take the Bulova building at North Queen and East Orange streets. That means the city would pay fair market value for the property and the building’s lien holders would then be paid.

The city issued requests for proposals on Friday.

Randy Patterson, the city’s economic development and neighborhood revitalization director, said the property is in a critical location downtown.

Read more:

http://lancasteronline.com/news/local/lancaster-city-seeks-proposals-for-bulova-building-adjacent-city-property/article_09f9f3de-00a7-11e5-84a4-17935f8a2998.html

Lancaster County Convention Center Gets Deadline Extension On Debt

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

The Lancaster County Convention Center is living on borrowed time.

With less than three weeks to go before the center’s $64 million in construction debt was due to be restructured — pushing interest rates higher — officials on Friday extended the financing for three more months.

The move buys time for negotiation with lender Wells Fargo to come to terms the center can live with.

A consultant sounded the alarm a year ago that the nearly 4-year-old center could be forced to close if revenues were not significantly increased or financing fees cut.

Read more: http://lancasteronline.com/article/local/813342_Convention-center-gets-deadline-extension-on-debt.html#ixzz2KX1XXIeh

Garden Spot Village’s Urban Retirement Project Dropped

In the nearly two years that Garden Spot Village marketed high-end units planned for the former Lancaster Press building, they saw lots of interest.

But no takers.

More than 450 people looked at the model unit that opened in February in the building at North Prince and West Lemon streets or stopped at the previous marketing office down the street.

They liked the building. They liked the downtown location. But they were looking for a condominium to buy or an apartment to rent.

When faced with questions about where they wanted to retire, “it caused them to pause in the process,” said Steve Lindsey, chief executive officer of the New Holland-based retirement community.

Read more: http://lancasteronline.com/article/local/739269_Garden-Spot-Village-s-urban-retirement-project-dropped.html#ixzz272nfutJr