August Wilson Center To Be Sold To Foundations

Map of Pennsylvania highlighting Allegheny County

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

Dollar Bank and the court-appointed receiver for the debt-ridden August Wilson Center for African American Culture struck a deal on Monday to sell the embattled Downtown cultural center to a coalition of foundations for $8.85 million.

The agreement nixes the proposed $9.5 million sale of the center to New York-based 980 Liberty Partners, a developer that wanted to build a 200-room luxury hotel atop the existing two stories and share space with the center.

The surprise announcement shortly before noon in Allegheny County Common Pleas Court halted what was supposed to be a two- to three-day trial over deed terms before it began. It marked a shift in course for court-appointed receiver Judith K. Fitzgerald, who had previously urged the judge to approve the sale to 980.

Read more: http://triblive.com/news/adminpage/6866840-74/million-center-court#ixzz3Ej4UAIHV
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Boscov: Mall Price At Sheriff’s Sale Probably Too High

Map of Pennsylvania highlighting Lackawanna County

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

Department store owner Al Boscov is unlikely to bid when the Mall at Steamtown goes on the block at a sheriff’s sale next week, saying he anticipates the asking price will be too high.

The businessman has been unable to strike a deal with LNR Partners, the real estate company representing the mortgage holder, to acquire the mall but hopes to renew negotiations if the lender finds no takers for the property at the sale Tuesday, he and his lawyer said.

“At that point, it would be just as if we were buying a property in a private sales transaction,” said attorney Scott M. Esterbrook. “The (sheriff’s) sale is not the be-all, end-all. It’s one step in the process, and where we’re at today is we just haven’t reached an agreement yet.”

The mall entered foreclosure March 7 after owner Steamtown Mall Partners defaulted on a principal balance payment of $37.1 million due last July on its 2003 mortgage, setting up the sheriff’s sale. Mr. Boscov is a principal in Steamtown Mall Partners.

Read more: http://thetimes-tribune.com/news/boscov-mall-price-at-sheriff-s-sale-probably-too-high-1.1718214

Steamtown Mall Goes To Sheriff’s Sale June 10 With $43.7M Asking Price

Map of Pennsylvania highlighting Lackawanna County

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

The asking price for the foreclosed downtown shopping center will be $43.7 million, according to a list released Monday by the Lackawanna County sheriff’s office.

The sale begins at 10 a.m. in the first-floor jury lounge at the Lackawanna County Courthouse, said Robert Moore, a deputy sheriff. Although the mall is the first item on the list, the auction will follow bidding for other properties held over from earlier sales, the deputy said.

Mall principal Al Boscov continues to put together financing to try to make the acquisition, said Scott Esterbrook, a Philadelphia lawyer who represents the department store magnate in the foreclosure.

“Albert is still working on a lot of details relating to the foreclosure sale,” Mr. Esterbrook said. “He is trying to raise the capital to pull it off.

Read more: http://thetimes-tribune.com/news/steamtown-mall-goes-to-sheriff-s-sale-june-10-with-43-7m-asking-price-1.1676862

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Philadelphia Owed A Half-Billion Dollars In ‘Nuisance Liens’ – Maybe

Map of Pennsylvania highlighting Philadelphia ...

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

Triumph Baptist Church wanted to grow. It bought an old suit factory in North Philadelphia in 1998, hoping to tear it down and build a house of worship.

But over time, Triumph changed its plans. The vacant factory became an eyesore and hazard, leaving the city little choice but to demolish it in 2011 at a cost of $794,191 to taxpayers.

The owners were supposed to reimburse the city for the work. Three years later, they haven’t.

Thus did 1801 W. Courtland Ave. join the list of 39,391 properties with “nuisance liens” – unpaid bills for sealing, cleaning, or demolition done at taxpayer expense by the Department of Licenses and Inspections. Work that building owners were supposed to pay for but didn’t.

Read more at http://www.philly.com/philly/news/politics/city/20140428_Philadelphia_owed_a_half-billion_in__nuisance_liens__-_maybe.html#IOycmdpuHCt3lXeF.99

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Boston Developer Buys Union Trust Building, Downtown Pittsburgh

A map of Pittsburgh, Pennsylvania with its nei...

A map of Pittsburgh, Pennsylvania with its neighborhoods labeled. For use primarily in the list of Pittsburgh neighborhoods. (Photo credit: Wikipedia)

A Boston developer with Pittsburgh ties bought Downtown’s Union Trust Building for $14 million in a sheriff’s sale on Monday.

The Davis Companies has developed property in 12 states mostly along the East Coast, but this is its first foray into the Pittsburgh market, said Downtown attorney David Lampl of Leech Tishman Fuscaldo & Lampl, who is representing the developer.

“We are evaluating our purchase of the building regarding its future use and hope to make a decision within a month or two,” said Jonathan Davis, 61, founder and CEO of The Davis Companies.

Read more: http://triblive.com/news/adminpage/5695981-74/lampl-building-developer#ixzz2uvTdS9ky
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Foreclosure Activity Surges Across Scranton/Wilkes-Barre Region

Locator map of the Scranton-Wilkes-Barre Metro...

Locator map of the Scranton-Wilkes-Barre Metropolitan Statistical Area in the northeastern part of the of . (Photo credit: Wikipedia)

Regional foreclosures advanced at the state’s highest percentage among metropolitan areas in 2013.

Property repossessions, home auction notices and mortgage default activity in the Scranton/Wilkes-Barre metro area soared by 60 percent, compared to 2012, according RealtyTrac, a Los Angeles-area company that tracks national foreclosure trends.

Foreclosures climbed in the area during all four quarters of the year and the annual increase was largest proportionately among state metro areas, RealtyTrac data show. York’s 32 percent increase was the second-largest jump.

The region experienced eight straight quarters of foreclosure declines before activity accelerated in the first quarter of 2013.

Read more: http://citizensvoice.com/news/business/foreclosure-activity-surges-across-region-1.1619761

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Pottstown Homicide – When Is Enough Violent Crime Enough?

Location of Pottstown in Montgomery County

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

If you read today’s Mercury, you undoubtedly noticed there was a fatal shooting at Brian’s Cafe on the corner of North Charlotte Street and Jefferson Avenue around 2:00 am this morning.  A 27-year-old male died at PMMC after being transported there from the crime scene.

It appears the leadership of Pottstown doesn’t care about crime.  They are more concerned about saving paper and buying 23 iPads instead of spending money on surveillance cameras, police overtime, more police, crime tracking software, cops walking a beat and/or any other assorted method(s) to combat crime.

Pottstown will never revitalize until it gets cleaned up.  Cleaning up Pottstown won’t happen until somebody takes crime seriously and (a).  allocates some resources to solve the problem or (b). asks for help from the state or (c).  all the above.   Keeping a “lid on the powder keg” isn’t a strategy, sorry!

Criminals are not afraid of the police.  Drug deals take place is broad daylight.  Vagrants wander the downtown chasing away potential customers who are trying to patronize one of the few businesses on High Street.  The laws already on the books are not enforced.   Yet borough council meetings have plain clothes police officers in the audience to keep the unruly taxpayers quiet. Maybe those police officers should be patrolling the streets instead of being used to intimidate the very people who pay their salaries.

The Codes Department is a shambles and has contributed to the problem by allowing absentee landlords to carve up homes into substandard rental units.  You have all been following this debacle in the Mercury, I’m sure.  Absentee landlords fail to conduct background checks and will rent to anybody willing to pay in cash.  Pottstown is overrun with social service agencies, Section 8 housing, vagrants, drugs and criminals.

Pottstown keeps promoting from within which is perpetuating the leadership vacuum.  How many borough employees live in Pottstown?  Do any police officers live in Pottstown?  Does Pottstown have any minority or female police officers?  Does Chief BM live in Pottstown?  Did Jason Bobst live in Pottstown?

Has anybody noticed all the for sale signs dotting the borough?  What about all the Sheriff’s sales? People just walk away from their homes.

Before Pottstown becomes the next Camden or Chester, somebody needs to do something.  As voters, you can do something by cleaning house this fall and getting new blood on Pottstown Borough Council and electing a new mayor.  If things don’t change soon, there will be no going back.  The day of reckoning is almost at hand.

We urge voters to check out the Reform Party candidates for Pottstown Borough Council and Ross Belovich for mayor as alternatives to the current bumper crop of ostriches on council and the illustrious Missy Mayor.  You can make a difference.

The taxpayers of Pottstown need to take control of their own destiny.  You’re footing the bill so you should be calling the shots.  Get people on council who will truly represent your interests instead of electing those who foster their own private agendas and could give a rip about your needs.

Power to the Pottstown People!