Developers Vie for 22-acre Tract in Coatesville

Developers Vie for 22-acre Tract in Coatesville
Three Multimillion-Dollar Proposals Under Consideration

COATESVILLE, PA — The City of Coatesville’s Redevelopment Authority (RDA) has selected Competitive Communities LLC, a private economic development consulting company, to vet three proposals submitted for the development of a 22-acre tract known as “The Flats.” The property is located at the prime northwest corner of the intersection of First Avenue and Lincoln Highway, which formerly served as an industrial site. It is the largest commercial property available in the city’s Qualified Opportunity Zone.

The proposals, each ranging between 30 and 60 million dollars, were presented during the April 16 RDA public meeting, followed by a week-long period that enabled developers to submit answers to questions that were posed by board members, city officials and residents.

“We’re excited to have three major prospects submitting proposals to develop this important space,” says Michael Trio, Coatesville City Manager. “All three bids are strong, and we look forward to the RDA’s recommendation. Our City’s business and community leaders have approached this opportunity with a spirit of collaboration, which has helped to position Coatesville as an excellent destination for development with a streamlined process and supportive environment.”

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“The RDA determined that a project of this magnitude, which will make a lasting imprint on the City’s future, was worthy of bringing in an independent professional to evaluate all three project proposals,” says Redevelopment Authority Chairman Joseph DiSciullo. “We are confident in our selection of Dave Sciocchetti, founder of Competitive Communities LLC, who has deep experience in analyzing complex development projects. He will carefully vet all three proposals, identify the pros and cons, and provide objective reporting that will enable the RDA to make a thoroughly informed decision.”

“It’s important to consider how each of the projects will provide Coatesville with a competitive advantage, drive the economy and enhance the quality of life for residents within the City and the 19320 area,” says Sciocchetti, who founded Competitive Communities LLC in 2012, and brings 40 years of community and economic development experience. Previously, he guided the City of Chester in the development of a $150 million soccer stadium and a $400 million casino project. Most recently, he has provided economic development consulting services to the Chester County Economic Development Council and Chester County including work on the VISTA 2025 and Venture Chesco initiatives.

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The RDA anticipates that deliverables from Competitive Communities LLC will be reported at its next public meeting scheduled for June 15. Following that, the RDA Board will deliberate and vote, in a public meeting, to select the final proposal and make its recommendation to City Council. Then, in another public meeting, City Council members will vote to accept or deny RDA’s selection.

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Yesi Merino
Yesi Merino
June 5, 2020 2:47 pm

Thank you sharing the insights for the acre in Coatesville. Interesting read.