New plan calls for revival of Bucks County borough's downtown

A new comprehensive development plan is propelling Perkasie, Pa., a borough in Bucks County, forward after nearly 20 years of economic stagnation.

The plan calls for downtown revitalization, new housing, repurposing existing industrial buildings, and a corporate park in Pennridge Airport.

“We need to leave the country for the cows and bring the businesses to the downtown,” said Andrea Coaxum, Borough Manager. “This revitalization will draw all retail buildings into the town center district, create business density, cross pollination, and customer activity.”

Developers break ground at the site of the former American House at the corner of 7th and Market streets in Perkasie, Pa.

She said keeping the small town feel is the most important component of the new plan.

“We don’t want to create a new Perkasie,” she said. “We just want to build up the old Victorian charm and help the borough express itself again.”

Developers last week broke ground at the site formerly known as the American House at Perkasie—located at the corner of 7th and Market streets. The building was lost to a fire that tore through the downtown in 1988.

Now, reAlliance Real Estate Development, an architectural and planning firm, is constructing a mixed-use building with ten apartments and 5,800 square feet of retail space in its place.

Stephen Barth, the borough’s economic development director, said he expects the building to be finished in December.

Developers Tom Skiffington and Dan Soliday are also constructing a building for commercial use at 1 N. 7th St. — next to the old American House. They expect to break ground in August.

Several residential development projects are also underway:

• Metropolitan Development Group and Ryan Homes received final approval in April to build a development called Perkasie Woods — which will add 144 new townhouses on 16.2 acres at the intersection of Constitution Avenue and East Spruce Street. The townhomes will sell for roughly $250,000.
• Hallmark Homes received final approval in June to construct Country Ridge — 18 single-family detached homes on 7.72 acres at West Park Avenue near Jefferson Drive. The homes will sell for $350,000 to $400,000.
• Hallmark Homes also expects to receive final approval this summer to develop 48 new single-family detached homes off North Main Street across from Coventry Way on 28.95 acres. These would sell for $400,000 to $500,000.

“The median home value in Perkasie is $265,000 and the new properties are 20 to 50 percent above the median,” said Barth. “That’s $100 million in new housing value, so everyone’s property value will rise.”

Three to five residential development projects remain in the preliminary stages.

Developer Phil Chant transformed the Draper Building, the former cigar factory on Ninth and Market streets, into a residential space with six apartments at roughly $1,100 to $1,200 per month, excluding the Penthouse. They will be ready for occupancy in two weeks.

The plan also calls for restoration of existing factories for residential and commercial use.

“Infill is a national trend,” Barth said. “We want to keep as much open space and then repurpose existing buildings.”

The borough is now finalizing the agreement of the sale of Delbar Products, a 108,000 square foot property that will have high-end, “SoHo-esque” apartments on the top floor and flex incubator-manufacturing space below. Restorations to this site are expected to cost $20-$30 million.

Barth said they are incentivizing developers to come to Perkasie to create a borough where people can live, work, and walk to the downtown.

“We are courting development that is consistent with the goals of our comprehensive plan,” said Barth. “In the community, everyone weighed in and we’ve brought in people who will design projects that match these goals.”

As a result, many new local businesses have recently set up shop in Perkasie, including a 20,000 square foot microbrewery called Free Will Brewing—which now has its own bottling line and a tasting room, which opened last week.

Other local start-ups that have recently settled in the borough include Bread Box and Bakery, which sells artisan breads, pastries, and cupcakes; Chimayo Gallery, which sells unique hand crafted gifts, cards, paintings and textiles; Sisters U, a non-profit community-based women’s organization; Bliss Salon; Dragonflies Salon; White Nest Market/Sweet Pea Ice Cream; Black Cat Tattoo; and Bucks County Soapstone, a soapstone supplier.

Barth said concept plans are in the works to construct a 280-acre park that would allow corporate jets to land at Pennridge Airport and market to high-end companies with a national presence. The developers, Pennnridge Development Enterprise, said they would have a better idea of their plans in July.

In the mean time, the borough is creating industrial zoning by the airport to make the project possible.

Stage two of the rebirth of the downtown is expected to begin in 2017.

The borough plans to relocate Shelly’s, a commercial hardware store, and construct a 3-story Victorian style complex with a central green space park between two new mixed-use buildings in its place.

A regional rail service is also under discussion and study. The borough is working with SEPTA to eventually repurpose the old downtown train station and open a commuter line through Quakertown.

Source: Philadelphia Business Journal