Daily Local News (West Chester, PA)
Business district plan lands state funding
The Gateway Redevelopment Project received more than $5 million in a grant and a loan
The city’s Gateway Redevelopment Project received a shot in the arm on two funding fronts Thursday.
The project was awarded a $3.2 million loan and a $2.1 million grant, the governor’s office and two local politicians announced.
“Now we have a project, now we have a project,” developer Jim DePetris said. “How many developers have come into Coatesville promising the sky and left in the dead of night? We’re the ones who are staying and getting this project done. Once we do, others will come.”
Gateway was one of seven new projects approved through the Commonwealth Financing Authority, or CFA, announced Thursday by Gov. Tom Wolf. The projects were approved for funding of more than $20.7 million. The money will support business growth in Pennsylvania that will lead to the creation and retention of more than 1,145 jobs, the governor said in an announcement.
In Coatesville, the Gateway project, with a total estimated cost of $21.6 million, is anticipated to create 90 jobs, the governor said.
“We met with him on Tuesday, and he is very supportive of the project,” said DePetris of DEPG Associates and Legend Properties, the managing partner behind the Gateway project.
State Sen. Andrew “Andy” Dinniman and State Rep. Harry Lewis issued statements in support of the development, both
stressing the importance of the job opportunities it will create for city residents.
“As we continue to strive to attract developers to Coatesville, the most important aspect of any redevelopment project is that it includes opportunities for career training and employment for city residents, so that they can play a leading role in the revitalization of their city,” said Dinniman, D-19, of West Whiteland. “Too often in the past, the citizens have not been a central part of that effort and those opportunities. After all, revitalization is not just about construction and infrastructure projects. It also has a greater purpose and that is rebuilding the community through job opportunities and economic growth.”
In addition to the permanent jobs that will be created by the retail and office project, some 200 construction jobs will be created. Lewis said he has collaborated with the Brandywine Technical College to ensure that the construction jobs are awarded locally.
“Not only will this project work to renew our beloved city to the vigor it once had, but the young adults of our local communities will be the ones bringing the vision to life,” said Lewis, R-74, of Caln. “It was nonnegotiable that the construction jobs give them an opportunity, rather than having the jobs benefit people from elsewhere.”
The funding announced Thursday means he can buy all of the properties now under agreement of sale, DePetris said, adding that demolition work will start in July and construction will begin in November. Because the original plan that called for residential units on the upper floors has been changed to office uses, the project could create closer to 120 jobs, the developer added. Another change: the developer is providing parking and no longer is counting on the city to build a garage.
“We hope to have some really good announcements on leasing very soon,” DePetris said.