14C — January 26 - February 8, 2018 — Economic Development — M id A tlantic
Real Estate Journal
www.marejournal.com
E conomic D evelopment
Enjoy all the benefits of Sullivan County, PA
After 7-Year tenure NJHMFA executive director Marchetta stepping down T
Morgan Craft. The association is a major force in helping shooting enthusiasts move to the next level. • Sullivan County’s Office of Planning and Development is ready to assist new businesses. • Broadband/internet connec- tivity throughout parts of our county. • 78,629 total acres of public use land for outdoor recreation. That’s 27% of the county area. • Real estate in our county averages $2,000/ac with most municipalities having no zon- ing restrictions. • Low real estate taxes • “quality of life” is not a cliché here. • Loyalsock creek just named “PA River of the Year” • 2 State Parks • Numerous Lakes Mark L. Haas is the eco- nomic development officer of the Sullivan County Planning Office in Laporte, PA. n of the Harrisburg Regional Chamber of Commerce. Rec- ognized as one of the largest, most dynamic organizations of its kind, the Harrisburg Re- gional Chamber has combined a unique blend of business, community, and economic development services. n Green Building Council as an energy efficient building. CPC has a long history of serving communities through- out New York State as a non- profit housing finance com- pany. CPC partnered with the Rockland Housing Action Coalition to finance Nyack Point Apartments by provid- ing a $6.2 million construc- tion loan and a $1.6 million permanent mortgage financed through the company’s funding partnership with the NewYork State Common Retirement Fund. New York State Homes and Community Renewal pro- vided $476,000 in Low Income Housing Tax Credits that will generate $4.7 million in eq- uity. HCR also provided $1.1 million from the Supportive Housing Opportunity Program (formerly Medicaid Redesign Team Program) and $1.9 mil- lion from the Housing Trust Fund. Federal Home Loan Bank of New York and NY- SERDA also provided a grant awards to ensure the success of the development. n
Sullivan County, PA — Sullivan County’s quality of life offers easy access to high- ways without conges t i on, l o w c r i m e rates, an af- fordable stan- dard of living in a relaxing environment where em- ployees can enjoy all the benefits of outdoor activities. Here are some benefits of Sul- livan County… • High quality local school system which is small enough to be personal. • Nine colleges and universities are within 2 hours. • The Original Pennsylvania 1000 yd. Benchrest Club is just a 40-minute drive. • North Mountain Sports- man’s Association, which has produced shotgunning 2016 Olympians Josh Richmond and Mark L. Haas Lemoyne, PA – Casey Khuri , director of opera- tions, NAI CIR was named as the Member at Large to the Executive Board of the Capital Region Economic Development Corporation (CREDC) . CREDC is the economic development arm to understand the powerful positive impact encouraging economic diversity has on your community.” Nyack Point Apartments is located in the Village of Nyack downtown business district, within one half mile of a hospital, shopping mall, supermarkets, restaurants, public schools and open space. The development consists of 30,000 s/f divided into 9 stu- dios, 12 one-bedroom, and 12 two-bedroomunits. There is an additional 10,000 s/f of parking under the building. The main floor features a lobby, manage- ment office and community room for tenant recreational activities. The second story contains a laundry room and the third floor offers an inter- net/study room. Each modern apartment has ample storage with walk-in closets. Nyack Point Apartments, a NYSERDA partner, is an energy efficient building, and has earned its LEED Gold rating established by the U.S.
Norristown, PA — Westrum Development Com- pany celebrated the com- pletion of the long-awaited revitalization and official in- tegration of 770 Sandy St. into the luxury apartment campus of its Luxor Lifestyle Apartments. On January 18, 2018, a ribbon-cutting cer- emony and reception was held to showcase the completed 38-unit Luxor Building ll at the now renamed 800 Luxor Lane address. For more than a decade before Westrum De- velopment Co. took ownership, the property at 770 Sandy St. was embroiled in construction, During his time at the multi- award-winning agency, NJHM- FA has funded and/or created more than 38,000 housing op- portunities, which have or will generate total development costs of nearly $7 billion with significant economic impacts. Of the housing opportunities created, Marchetta led the ini- tiative to implement the agen- cy’s Conduit Bond Program, which boosted NJHMFA’s pro- duction of 28,350 multifamily rental units. W e s t m o r e l a n d County, PA — With its sprawling hills, down-home charm, attractive business climate and close proximity to 70% of the country’s total population, Westmoreland County offers the best of ev- erything. one of the leaders in eco- nomic development, West- moreland County knows the dynamics for success and provides the in-depth services and support necessary to meet the needs of any business. The county has the site op- tions available, a superior transportation network, ex- ceptional utility and energy services, a qualified workforce, RENTON, NJ – Af- ter seven years at the helm of the New Jer- sey Housing and Mort - g a g e F i - nance Agen- cy (NJHM- FA) , execu- tive director Anthony L. Marchetta will be step- ping down at the end of the month. Anthony Marchetta
Additionally, national rec- ognition was given to the sig- nificant changes under Mar- chetta’s leadership to the state’s Low Income Housing Tax Credit Qualified Alloca- tion Plan. These changes have helped guide affordable hous- ing growth across the state by deconcentrating areas of poverty and shifting projects to high opportunity areas that are job centers, have high- performing schools and access to public transit. Following Superstorm San- dy, NJHMFA received more than $700 million in federal Community Disaster Block Grant – Disaster Relief funds, which were administered by NJHMFA, resulting in the sta- bilization of Sandy-impacted communities and the creation of nearly 7,000 rental apart- ments for families, seniors and special needs residents. “I amvery proud of our efforts at NJMHFA to increase afford- able housing for our residents,
address the devastating impact on housing due to Sandy and create new initiatives to spur the development of homes for families, seniors and special needs residents across the state,” Marchetta said. “It has been a tremendous privilege to work alongside the dedicated professionals at NJHMFA and to serve the people of NJ.” Aligning with the State of New Jersey’s goal to increase housing and help integrate peo- ple with special needs into the community, Marchetta spear- headed the agency’s creation of multiple new initiatives, including the Special Needs Housing Partnership Loan Program and the Supportive Housing Connection, which resulted in the creation of 2,200 opportunities for special needs residents. Marchetta, who joined the agency in September 2010, will be starting his own business, ALM Consulting Group , located in the Princeton area. n
NAI CIR’s Khuri named to the CREDC Executive Board
WestrumDevelopment leads in economic development
continued from page 2C RHAC, CPC, Nyack Point . . .
The official ribbon-cutting of Luxor ll at Luxor Lifestyle Apartments in Norristown, PA
legal, and financial turmoil that cost Norristown taxpay- ers up to $4 million for repairs, and legal expenses. The com- pleted renovation represents a momentous achievement for the municipality and further and strong financial support packages to make relocating or starting a business easy and fast. Unique to other counties in the Commonwealth, West- moreland has combined the resources of private and pub- lic agencies by forming the Westmoreland Development Council to improve and coor- dinate economic development efforts. One of these agencies, the Westmoreland County Industrial Development Corporation (WCIDC) , has made its mark in industrial park development. To date, the county has 16 developed sites strategically located through- out the county, with each hav- ing different amenities. This year the WCIDC plans on developing its seventeenth industrial park, Commerce Crossing at Westmoreland. The 206-acre industrial park will be designed to accommo- date companies that desire pad-ready sites with direct access to active rail and the in- terstate highway system. Com- merce Crossing will consist of five parcels, each ranging in size from 20 to 40 acres. Cur- rently, rail accessible sites over 10 acres are limited in SWPA, and with the Shell Ethane Cracker being built in nearby Beaver County the need for accessible rail sites are now at a greater premium. n Westmoreland County offers the best of everything promotes its continued eco- nomic growth. The residents at Luxor Building ll have full access to the amenity-rich, technologically advanced, and socially integrated main building. n
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