Potential investors take a look at Pottstown
More than 150 attend annual Investors Conference
POTTSTOWN >> The third annual Pottstown Investors Conference, held Friday at the Hill School’s Center for the Arts, attracted its largest group of attendees so far.
More than 150 potential commercial and residential investors, business owners and community members turned out for the event, which focused on Pottstown’s revitalization and what the borough has to offer investors — including investment opportunities and community amenities.
The conference is a partnership of the Hobart’s Run neighborhood revitalization initiative and The Hill School. According to Cathy Skitko, senior director of institutional public relations and Hobart’s Run, initial feedback was good.
“Guests were walking up to us and thanking us for doing this for the town, sharing stories about things they learned about Pottstown and its businesses,” Skitko said Friday evening. “The spirit of collaboration and positive energy
was unmistakable.”
This year’s conference featured panel discussions by Pottstown entrepreneurs, government officials, information about available investment properties and a pair of nationally known urban and economic policy experts — Diana Lind and Alan Berube.
“The keynotes were huge hits, as they provided relevant research and they each also brought their messages back to Pottstown,” Skitko added.
Lind is the founding managing director of the Fels Policy Research Initiative. She is currently working on a book — “Brave New Home: The Smarter, Cheaper, Happier Future of Housing,” which she said explores a mismatch between the demographics of the U.S. today and housing and some of the problems it’s causing. She also spoke about creative solutions for sustainable affordable housing.
The concept of single family housing developments is relatively new, according to Lind, who questions whether it is a housing concept that may no longer fit, given the changes in how people live and work. She pointed to the current housing trends of coliving, tiny houses and multigenerational housing.
“With all the social changes that have been going on, it has taken a long time to see how housing can evolve, but it is ripe for disruption,” she said, urging those in attendance
to ask questions about residential housing zoning, and to look out beyond 2023.
“Think about where we will be as a country in the next decade and really think about how to develop the community with that picture in mind,” she added.
Berube is senior fellow and deputy director at the Brookings Institution Metropolitan Policy Program. He spoke about Pottstown and older industrial communities in the U.S. and solutions for strengthening their economic opportunity.
“Pottstown and eastern Pennsylvania are examples of this; cities that were traditionally powered by industry, that are now seeking new niches in the global economy,” he said. “What built Pottstown is what it built for the rest of the country. Those factories and jobs supported a large and vibrant downtown retail quarter.”
Berube said communities like Pottstown have assets that can spur their adaptation.
“OICs need to come to the realization that need to reinvest in their urban core — their downtown. They need to rediscover it and create an authentic, quality place — something I saw on my drive through downtown Pottstown today,” he said.
He echoed Lind’s suggestion to develop a compelling vision for Pottstown’s economic and residential future. The vision he said, should be one that can garner local, state, public and private support. And he said Pennsylvania should be helping communities
like Pottstown invest in themselves, as some other “forward thinking” states do.
“They realize the future of state economies lies not in their suburbs and small towns, but in the older cities,” he said.
The first panel discussion of the day featured eight women entrepreneurs who picked Pottstown to locate their businesses. The panel included: Pearl Somboonsong, director of development, WIN Signature Restaurants; Tracy Purdy, proprietor, Three Daughters Inn Bed & Breakfast; Shaila Adluru, owner, Amruth Brewing Co. (Cuisine India); Lisa Applegate, owner, Studio 36 Artisan Jewelry; Gina Spease, owner, Once Upon a time Consignment Boutique; April Barkasi, president & CEO, Cedarville Engineering; Akiai Worthington, co-owner, Welcome to the Avenue; and Christa Costello, a Pottstown real estate developer.
Asked by a moderator what the selling point was for them to make the decision to locate in Pottstown,
there was a variety of answers including: the people, affordability, the community, amenities and workforce development.
“We need to be able to attract and retain young professionals — professionals of all ages — with the amenities they’re looking for. Pottstown has all the ingredients for that,” Barkasi said.
“What inspired me — the property was beautiful and the way the owners embraced the vision I had that opened the door of opportunity for me,” Spease said. “People really want the town to be successful and will work with you and encourage you.”
Applegate, who opened her shop in October 2018, said the people coming in have reinforced that she made the right decision.
“It’s hearing people say that Pottstown is starting to turn around. They are starting to talk it up, they’re very positive about the change,” she said.
Applegate, a first-time business owner, offered a piece of advice for investors considering Pottstown.
“There will be obstacles you may not be equipped to handle. I was fortunate that I reached out to the local SCORE office. They were instrumental in giving guidance and helping me recognize where my weaknesses are,” she said.
In response to a question from an audience member about “naysayers” about Pottstown’s revitalization efforts, Purdy said “I don’t say, I show,” adding that she takes them out to dinner, or to see a play, or something else happening in Pottstown.
The second panel featured eight government officials — from Pottstown, Montgomery County and state government — who interact with Pottstown investors.
The panel included: Peggy Lee-Clark, executive director of the Pottstown Area Industrial Development, or PAID Inc.; Richard Bradbury, assistant Montgomery County District Attorney; Michael Markovich, Pottstown Police Chief; Dan Weand, Pottstown Borough Council president; Ken Lawrence, Montgomery County Commissioner; state Rep. Tim Hennessey, R-26th Dist.; state Rep. Joe Ciresi, D146th Dist.; state Sen. Robert Mensch, R-24th Dist.
Weand told the group that one of his goals is to make Pottstown the “easiest municipality to deal with.” Through a recent initiative looking at methods of operation, a one-page sheet has been put together regarding licensing and inspections for commercial development, a document that used to be six pages.
“What you find in Pottstown, and maybe not in other municipalities, are the partners. In Pottstown the groups don’t always agree on everything, but they do agree on moving Pottstown forward,” Lawrence said, adding the county commissioners are “bullish” on Pottstown.
In answer to a question from the audience about the timeline for reopening the Keim Street bridge, which has been closed since 2010, it was revealed the bridge is expected to be “significantly completed” in 2020.
“It’s frustrating when people see no work being done, and think nothing is happening. Things are happening, but they are things you can’t see,” Lawrence said.
Lunch featured a Taste of Pottstown — dishes from some of Pottstown’s restaurants. Attendees also had the opportunity to learn about Pottstown’s non-profits via stations placed around the room.
Following lunch, there was an opportunity to hear about commercial properties that are available in Pottstown. The day ended with a trolley tour of Pottstown highlighting Pottstown “landmarks like Edgewood Cemetery; fun spots and cultural venues that help drive business,” according to Skitko, including Splitting Edge Axe Throwing, Steel River Playhouse, Manatawny Green Miniature Golf, the Carousel and the Schuylkill River Trail.