Map of Allegheny County, Pennsylvania, United States with township and municipal boundaries (Photo credit: Wikipedia)
A developer is expected to begin negotiations with Port Authority next month for a $39.8 million, five-story apartment building and parking garage at the park-n-ride lot adjacent to the Dormont Junction Light Rail Transit station.
An authority committee today approved a one-year exclusive negotiating period with Fore Property Co., a national real estate developer based in Washington, D.C., and Las Vegas, Nev., on a lease agreement for the site, part of which is owned by Dormont Borough. The project would include an estimated $10 million in public funding, to be used toward construction of a 500-space garage.
Map of Pennsylvania highlighting Luzerne County (Photo credit: Wikipedia)
WILKES-BARRE — Businessman and former dragster driver Joe Amato told his story Friday morning to about 100 people gathered at the Penn State Wilkes-Barre Executive Management Forum at Genetti Hotel and Conference Center in the city’s downtown.
And it was his $5 million downtown investment Amato talked about most. He revealed that Judd Shoval of Kingston is moving his business — Ambit and Shoval — to the theater complex on East Northampton Street and that only three other retail spots remain vacant.
Shoval did not return messages left on his cellphone and at his business. will release more information on his plans next week, Amato said.
“Downtown Wilkes-Barre has a pulse,” he said. “It has a sense of direction. More than 400,000 people go to the movies every year and use the parking garage. We have to get them outside to the street and patronize the businesses there.”
The company that bought the huge No. 1 building at the Reading Outlet Center gave the city a first glimpse Thursday of its plans.
Those include business and commercial space on the first floor, about 150 market-rate apartments on the second through fourth floors and penthouse office space on the top floor of the building at Ninth and Douglas streets.
They also include razing the northwest corner of the block-sized building to erect an attached parking garage with more than 250 spaces, an interior courtyard with playground equipment, lighting and fountains, and security guards monitoring the entire complex.
“Our plan was well received and we are excited to move forward,” said Bill Hynes, a Nazareth, Northampton County-based real estate developer who’s part of Think Loud Development.