LOWER PROVIDENCE >> The Collegeville Inn, a former
smorgasbord restaurant and cafeteria training facility that closed several
years ago, is under contract to be purchased by the Buccini/Pollin Group of
Wilmington, Del.
The owner of the property, M&T Bank, agreed to the
purchase some time ago, said Township Manager Richard Gestrich.
Representatives of the bank met with township staff and
Solicitor John Rice in April 2014 to present two development proposals for
housing and retail space along Germantown Pike.
“There were two options. One option was a
9,000-square-foot retail center near Germantown Pike, three-story walk-up
apartments with 162 units in eight buildings and 46 town homes in separate buildings,”
Gestrich said. “The second option was a 6,000-square-foot retail center and 115
two-story townhomes.”
Gestrich said the apartment proposal would likely need
zoning relief to be developed, but the townhouse concept could be a by-right
use.
“The board of supervisors is very supportive of
developing that tract,” Gestrich said. “There are zoning ordinances that would
not allow the apartments.”
Gestrich said the closed building had been under a
purchase contract “for some time,” but the purchase price had not been
disclosed.
Larry Bergen, a senior vice president at Colliers
International of Philadelphia, did not return telephone calls seeking comment.
Officials at Buccini/Pollin Group could not be reached
for comment.
The Collegeville Inn, with more than 100 years of history
on one side of the Perkiomen Creek Bridge, was purchased in 1994 by Nutrition
Services Management Co. (NSM) of Kimberton and reopened in 1997 as the
Marketplace Restaurant in 1997. The 450-seat restaurant, banquet and conference
hall was used by NSM as a training facility for chefs and kitchen workers in
their banquet hall system.
In 2008, the township staff received a proposal for a
retirement community with 100 to 150 age-restricted units that would preserve
the Collegeville Inn building. That proposal never moved beyond the discussion
stage.
M&T Bank holds the mortgage on the property.
Source: Times
Herald
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