"Nationwide, real estate development is at a standstill ...Pre-leasing will be required over the next 12 months in order for a project to move forward... (Locally,) development projects have been delayed while potential lessees wait out the current economic downturn."
Locally, Coatesville is a bright spot: "Tower 1, 3rd St. at Lincoln Highway, will (include) 72 apartments and 14,000 square feet of retail space," with work starting this winter. "Pulver's (125-room Marriott Courtyard) and office project," at PA 82 South and the US 30 Buy-pass, "will start in the spring. Iacobucci is planning three separate residential projects with a total of 700 units... on the east side of Rt. 82... Mosaic has plans to develop 10 acres of the “Flats” facing Business Rt. 30, which they hope will be anchored by a grocery store." The Cambria Homes "mixed-income" project is still on the drawing board.
In suburban land deals, "Developer J. Loew and Associates sold 65 acres in the
And, among other new leases, "Matrix Services, an industrial construction company for the petro/chemical industry (Sunoco and Peco are clients), leased 27,000 square feet from The Buccini/Pollin Group (BPG) at