Failed Movie Studio In Montco Cost Taxpayers Millions

Map of Pennsylvania highlighting Montgomery County

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

NORRISTOWN, PA — The project to transform an old Norristown shopping center into a movie studio was supposed to bring the glitz and fortune of Hollywood to the sagging seat of Montgomery County.

Build it and filmmakers will come. Build it and jobs will come and lift Norristown to prosperity.

That dream fizzled like a box-office bomb last May, when the project’s investor filed for foreclosure against the developer.

The forlorn shopping center, Logan Square, sits half-empty, its fate likely to be announced in the coming weeks. The county is grappling with how to recoup the $25 million it sank into the project — including $10 million in federal funds it must repay — and its lawyers are preparing a lawsuit against the developer. And prosecutors are scrutinizing the deal to see if more than bad luck and poor judgment were to blame.

Read more: http://www.pottsmerc.com/general-news/20140218/failed-movie-studio-in-montco-cost-taxpayers-millions

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Developer’s Agreement For $200 Million Plan Adopted In Conshohocken

Map of Pennsylvania highlighting Montgomery County

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

CONSHOHOCKEN, PA — A developer’s agreement with  Keystone Property Group (KPG) of Lower Merion to build a hotel, an office tower and a parking garage on Fayette Street and a new borough building for police and borough workers was unanimously approved Wednesday by Borough Council.

The $200 million KPG plan was selected by council in mid-September over a competing proposal by Brandywine Realty Trust (BRT) of Radnor.

The 32-page agreement will be ratified Friday by the Montgomery County Redevelopment Authority.

KPG agreed to build an 18-story, 200-room hotel at the intersection of Fayette and Elm streets, an eight-story parking garage to replace an existing three-story garage and a new, 16-story, 200,000-square-foot office building at the intersection of First Avenue and Fayette Street.

Read more: http://www.timesherald.com/general-news/20131218/developers-agreement-for-200-million-plan-adopted-in-conshohocken

Two Developers Set Sights On Fayette And Elm, Conshohocken

Location of Conshohocken in Montgomery County

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

CONSHOHOCKEN — The Montgomery County Redevelopment Authority (RDA) has released redacted copies of two proposals to redevelop the Verizon building and a vacant parcel at the intersection of Fayette and Elm streets, reuse the historic Washington Fire Co. building and provide additional parking for Fayette Street merchants and shoppers.

The Times Herald filed a Right to Know request July 26 for the two proposals from Brandywine Realty Trust (BRT) of Radnor, Delaware County, and Keystone Property Group (KPG) of Lower Merion after officials at the RDA refused to provide the proposals without allowing the two realty development companies to redact “confidential and proprietary information.”

Jerry Nugent III, the executive director of the RDA, said in a July 31 letter that the information was “commercial or financial information received by an agency which is privileged or confidential and the disclosure of which would cause substantial harm to the competitive position of the person that submitted the information.”

The redacted version of the BRT proposal included an executive summary and six conceptual drawings illustrating the firm’s plans for replacing the Verizon building at 402 Fayette St., with a 24,000-square-foot building for borough workers and the police department.

Read more:  http://www.timesherald.com/article/20130802/NEWS01/130809921/two-developers-set-sights-on-fayette-and-elm-conshohocken-#full_story

Proposed Norristown Apartment Building Denied Low-Income Housing Tax Credits

Location of Norristown in Montgomery County

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

Editor’s note:  YAHOO!

NORRISTOWN ­­— The developer of a proposed $17 million, 96-unit apartment building slated for a Montgomery County parking lot in Norristown has been denied $1,020,581 in low-income housing tax credits requested from the Pennsylvania Housing Finance Agency (PHFA).

The proposal from Pennrose Properties of Philadelphia was not included on a July 11 list of Cycle 2 awards from the PHFA, according to Jerry Nugent, the executive director of the Montgomery County Redevelopment Authority.

“I have no idea what effect this will have on the project,” Nugent said.  “My understanding is there was an appeal filed by Doug Seiler and other people for the (Norristown) variances granted.  I don’t know how long that will run.  The legal appeal could run for a year or more.”

The development company secured the zoning variances on March 26 for the proposed, four-story building and has not yet submitted site plans to the Norristown planning department.

Read more:  http://www.timesherald.com/article/20130721/NEWS01/130729944/proposed-norristown-apartment-building-denied-low-income-housing-tax-credits#full_story

Pottstown Area Industrial Development, Inc.’s (PAID) Public Meeting

Location of Pottstown in Montgomery County

Image via Wikipedia

Tonight, in the Hill School library, PAID’s new governing body was introduced to the public.  Jason Bobst, Pottstown Borough Manager and PAID’s first President ran the meeting.

Basically, most of the meeting was taken up with revisiting what has gone on in the past and talking about where we find ourselves today.  Dr. Lindley introduced each board member and gave bullet points about their resume.  There are familiar faces and new faces on the 13 member board.  The skill sets of the new board are very impressive and should lend themselves to the task at hand; making sure Pottstown has a bright future and realizes its potential.

The big news was about the new Executive Director search.  This person will be responsible for the day-to-day operations of PAID and will become the central point of contact for economic development in Pottstown. 

I was relieved to learn that an extensive national search is being conducted.  I had heard rumors that we might be recycling to fill this position.  At this juncture we need the most qualified person possible.  It would in fact be better if this person was not from “around here” and would come to Pottstown with a clean slate and fresh ideas.  It sounds like the board might feel this way also.  Jason told us the job has been posted and we are accepting resumes.

Once a “short list” of candidates emerges, there will be another public part where residents may have the opportunity to hear candidates speak about themselves and the task at hand.  I hope so!

Jason said there will be four committees within PAID that will be working on specific tasks.  It will be easier to get the smaller committees together than all 13 board members.  The committees are marketing/visioning, infrastructure, business and grants/funding.  PAID will also be looking for a long-term funding source to make sure the organization is self-sufficient.

We currently have a consultant who is working with PAID until the new Director is hired.  We are not fiddling while Rome burns. 

A new spirit of cooperation and coordination will hopefully develop from this venture.  Pottstown is looking to work with regional and state entities for economic development purposes and marketing.  It is hoped that all the factions in Pottstown can finally come together with a unity of vision and purpose.

Jason said one thing Pottstown needs to improve upon is showcasing its successes.  I totally agree with that statement.  We tend to be our own worst enemy when it comes to civic pride.  We need to market, market, market this town, put our best foot forward and smile the whole time!  We might have better luck attracting people and business if were positive about POTTSTOWN!  What a radical idea.

The meeting was opened up to questions. 

Tom Carroll (Schuylkill River Heritage Trail) stated he was concerned there was no representation from MCCC on the board.  Tom pointed out the importance of the West Campus to Pottstown and that we should leverage our relationship with MCCC to help achieve mutually beneficial successes.  It was pointed out that while MCCC is not now represented on the board, there is room to add representation from MCCC down the road.  I hope this happens!

Erika Hornburg-Cooper (Galley School) brought up the arts component in revitalization.  The board is definitely aware how important arts and culture are to revitalization, quality of life issues and attracting residents.

Another member of the audience asked about the involvement of the Pottsgroves and Coventries.  The answer is we are concentrating on the borough first and then a more regional focus will naturally evolve.  I am glad we are concentrating on Pottstown first, for once!

I realize this has taken longer to carry out than many of us were hoping, however it does sound like a great deal of planning and thought have gone into assembling a board and getting a good cross-section of community representation.  At last, the Executive Director position is being advertised.  It would seem we are now on our way.  We wish PAID much success with the task at hand.  We will be watching and reporting.

PAID will be using the 2008 Pottstown Economic Development Strategic Plan and the 2009 ULI report to set priorities.

2008 Pottstown Economic Development Strategic Plan:  http://www.pottstown.org/PDF/EconomicDevelopmentStrategicPlan.pdf

2009 ULI Report:

http://www.uli.org/CommunityBuilding/AdvisoryService/~/media/CommunityBuilding/AdvisoryServices/PowerPoints/Pottstown%20%20PA%20October%202009.ashx

Here is the job description for the Executive Director:

http://www.pottstown.org/PDF/employment/job-executive-director-2011-04-27.pdf

Pottstown Area Industrial Development (PAID) Meeting, Thursday, April 28th

Location of Pottstown in Montgomery County

Image via Wikipedia

If you have followed the transition of the Pottstown Area Industrial Development  (PAID) organization into the borough’s economic development engine then you should attend a public meeting at the Hill School Library, Thursday, April 28th at 6 p.m.  The new board of directors will be introduced.

This is an important vehicle that will hopefully enable Pottstown to speak with a unified voice when presenting economic development goals and strategies.  Having a consensus will help the borough receive grant money for projects.

Jason Bobst, Pottstown Borough Manager, will be the first President of the Board of Directors.  The office of president will rotate every year between the borough, the school district and the Montgomery County Redevelopment Authority.

The first year is crucial because the new Executive Director will be hired.  This person will be the point of contact and run the day-to-day operations of PAID.

The ULI recommendations will be used as a blue print for economic development by PAID’s Executive Director and the Board of Directors.