State restores $10.5 million for Ardmore project A redevelopment project in Ardmore is back on track after the state restored $10.5 million in grants that it had previously pulled from the project. In Dec. 2013, the governor’s office revoked a $12 million grant because the project had been delayed and its “scope changed several times.” The original apartment-retail project was part of a renovation of the Ardmore train station, which is now being redeveloped by SEPTA. The current project by developer Dranoff Properties, is a new building that will replace the Cricket Avenue parking lot and includes street-level stores and restaurants, a three-story parking garage, and 121 upscale “transit-oriented” apartments. The $10.5 million grant is from the Redevelopment Assistance Capital Program and can only be used for the garage and retail portions of the property. Dranoff said he expects the project to be complete in mid-2016. Source: Philadelphia Inquirer; 9/10/2014
Posted on: Thu, 18 Sep 2014 00:30:48 +0000