Wilkes-Barre Residents Voice Concerns About Plan To Convert Sacred Heart Into 31-Unit Apartment Building

WILKES-BARRE, PA — A proposal to convert the Sacred Heart of Jesus Church and School into high-end apartments drew the ire of several North End residents at Wednesday’s Zoning Hearing Board meeting.

Philadelphia developer Hysni Syla, a current Kingston resident, said he “came here to invest” in potential development sites like the shuttered school and church at 601 N. Main St. The former closed in 2011 as shrinking membership and a drop in priests forced the Diocese of Scranton to close the doors of the century-old church.

The proposal would convert the school into 31 units, while renovating the church into an art studio and rectory into four additional apartment units.

Read more:  http://www.timesleader.com/news/local-news-news/152948142/

Plan Calls For 175 Luxury Apartments In Downtown Kennett Square

KENNETT SQUARE, PA – Borough officials are considering a plan that would bring 175 luxury apartments and a pub restaurant to the western section of town.

Called The Lofts, it will be located very close to Victory Brewing Co. on Cypress Street that will open sometime this month. Specifically it will be bordered by State Street to the north, Washington Street to the east, South Mill to the west, and Bernard Alley to the south.

Developer, StanAb Real Estate Development Co. of West Chester, purchased the entire 600 block of State Street recently, which had been the site of Kennett Motors and Kennett Transmissions.

“Except for Magnolia Place, there are few other choices (for rental housing),” said Tony Stancato, an executive with StanAb. “The lure of Kennett Square is that is has walkable amenities, and there are many businesses wanting to come to Kennett. Demand for rental has been increasing with those ages 20 to 34 holding off buying decisions for many reasons. Kennett Square is an underserved marking for rental housing.”

Read more:

http://www.dailylocal.com/general-news/20150412/plan-calls-for-175-luxury-apartments-in-downtown-kennett-square

South Bethlehem Complex Of 110 Luxury Apartments, Offices And Stores To Start In Spring With Authority Approval

The developer of Bethlehem’s first City Revitalization and Improvement Zone project got approval Thursday to proceed with a second project.

BethWorks Renovations’ three-building complex of 110 luxury apartments, offices and retail space will flank its first project, a distillery called Social Still slatted to open on East Third Street as early as this weekend, the developer said.

Construction on Greenway Commons, as the three-building complex is called, will follow starting in March, said Rob de Beer, the development director for Peron Development, a BethWorks-affiliated company. The company plans to start construction on the two retail-and-apartment buildings in March with the retail-and-office building starting as soon as a nearby garage the complex plans to use for parking is underway, de Beer said.

The complex will be built atop three parking lots across from Northampton Community College. BethWorks bought the lots from the former Bethlehem Steel Corp. in 2004, de Beer said.

Read more: http://www.lehighvalleylive.com/bethlehem/index.ssf/2014/12/south_bethlehem_complex_of_110.html

Center City Allentown High-End Apartments Renting Far Faster Than Expected, Developer Says

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

Developer J.B. Reilly has been building apartments for 25 years, but he’s never seen demand like he’s seeing now for his high-end apartments in Center City Allentown.

His company, City Center Lehigh Valley, announced Sept. 8 it was accepting deposits for 170 apartments in the under-construction Strata Luxury Flats at Four City Center. Two months later, almost half have deposits on them.

“I’ve been in the apartment development business my whole career and we’ve never experienced this kind of demand – even close to this kind of demand,” Reilly said Friday.

The interest in the apartments is tied to the new attention on Allentown’s downtown, Reilly said. In recent months, new restaurants, office space and a minor league hockey arena have opened, with Reilly leading much of the development.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/11/center_city_allentown_high-end.html

Brandywine Finds Partner For 29-Story Apt. Tower At 1919 Market St.

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

Brandywine Realty Trust, the Radnor company that is the dominant office landlord in Center City, says it has a partner and detailed plans to build a 29-story, 321-apartment, $140 million tower on the grassy lot it controls at 1919 Market St. in Center City. The tower will also feature 24,000 sq. ft. of commercial space, mostly leased to Independence Blue Cross (IBC) and the CVS drugstore chain. Statement here.

Brandywine’s 50-50 joint venture partner for 1919 Market is Berwyn-based LCOR CalSTERS, a successor to the former Linpro Co., which now manages property investments for the California State Teachers Retirement System. The partners arranged to borrow $88.9 million for the project, pricing the credit at Libor plus 2.25%. Equity investment is $59.2 million, split by the two partners; Brandywine’s half includes the $13 million value of the land. The company projects a cash yield (rent/cost) of 7% a year (vs 8% for Brandywine’s $385 million FMC office/apartment tower, and 7.6% at Brandywine’s $158 million Evo apartment project, both in University City).

Read more at http://www.philly.com/philly/blogs/inq-phillydeals/New-29-story-tower-proposed-for-1919-Market-St-.html#bOWzSHLeSA7BBpJU.99

Residents Facing Evictions At Jenkintown High Rise

Map of Abington Township, Montgomery County, Pennsylvania (Photo credit: Wikipedia)

Some 200 Jenkintown residents, many of them elderly, are losing their apartments due to a dispute between local officials and the property owner.

“We’re the pawns in this,” said Marshall Jones, 93. “[The owner] is saying, ‘If you won’t do it our way, we’ll just close it down.’ ”

Jones has lived in the Colonade high-rise apartments on Old York Road, in the Jenkintown section of Abington Township, for 16 years. He and other residents have had a string of complaints about leaks, electrical outages, broken elevators, cold water, broken heaters, and other issues, many of which ended up in the courts.

In 2012, the building was cited for more than 200 code violations, and the township’s solicitor was “looking into criminal charges,” according to an Inquirer report.

Read more at http://www.philly.com/philly/news/20140904_Residents_facing_evictions_at_Jenkintown_high_rise.html#FfYzbjqVDIYStHix.99