Luxor gets final LERTA approval
County official praises downtown growth
NORRISTOWN » A residential development project in downtown Lansdale cleared a final hurdle Thursday in a quest for Local Economic Revitalization Tax Assistance.
The Montgomery County Board of Commissioners unanimously approved the tax abatement request for the Luxor at Lansdale apartments during a meeting on Thursday morning.
The 205-unit complex, at 117 S. Broad St. in Lansdale, has studio, one-bedroom and two-bedroom apartments. However, 88% of the units are studios and one bedrooms.
David Zellers, director of the Montgomery County Department of Commerce, said it would cost more than $1.2 million for “environmental engineering remediation and other regulatory demands” in order to make the previously vacant warehouse building ready for residential use.
The site has “existing drainage, [which] requires extensive permitting, [as well as a] relocation with enhanced restoration,” Zellers said in his presentation.
The Lansdale Parking Authority also owns the adjacent parcel, which is expected “to be developed in conjunction with Luxor Lansdale,” according to the presentation. Developers are expected to offer “parking for residents,” as well as some general “infrastructure and beautification improvements along the outer edges of the property,” Zellers said.
Construction is slated to begin in October, with a projected finishing date of April 2022.
Zellers said the borough has seen several residential development projects in recent years as revitalization efforts continue. He praised the area’s overall accessibility for transportation and retail and dining services.
“Lansdale is really one of our most vibrant boroughs right now, really a tremendous growth in its downtown,” Zellers said. “The transit connections are probably second to none, certainly in that part of our county and in our region, and it’s extremely walkable and desirable.”
The Westrum Development
Company brought the LERTA application before the Lansdale Borough Council on Aug. 19, as well as North Penn School District’s finance committee on Aug. 13, and the school board Aug. 20. Both agencies endorsed the matter respectively.
Zellers said that developers requested a five-year tax abatement, which would “allow for the recapture of 20 percent of the increased taxes per year over the fiveyear period.”
The project would provide a “significant tax benefit” to the county, borough and local school district, while the property’s smaller units prevent any potential strain to North Penn School District’s resources, according to the presentation.
“This is really … a significant redevelopment of a site that’s underutilized and therefore will increase the tax levels for all three taxing bodies,” Zellers said.