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Published on: 7/2/2008
Last Visited: 10/6/2009
Stoltz lawyer Pam Scott said the mixed-use development on the 96-acre site will consist of 1.4 million square feet of "exciting, nicely developed" retail space, 657,000 square feet of commercial office space and 700 residential units in a "pedestrian-friendly" setting.
All but one of the former Du Pont office buildings will be demolished, she said.
She did not specify which one nor explain why it will be left standing.
Du Pont, which is moving operations to its nearby Chestnut Run complex, sold the property to Bryn Mawr, Pa.-based Stoltz, reportedly for $90 million, last year.
The new development is said to be a $525 million project.
Scott said it is too soon to provide a firm timetable, but the project is expected to take about 10 years to build in phases that she said will be geared to "market conditions."
She said that the low-rise retail area facing Centre Road will be set back about the same distance as the present office buildings.
"As you work your way into the project, it starts to get taller," she said, with high-rise apartments and condominiums and culminating with the 11-story office building.
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Scott said that, while there will be changes as the process proceeds, the overall project will not be increased in scope.
Later, during a brief 'rebuttal' period after public testimony, she categorically denied suggestions that there could be an intention to stop after just some of the phases are completed.
"We're in the very early stages.
Lots of issues raised [during testimony] we're not in a position to discuss tonight," she said.
But, she added, "there is absolutely no chance there is going to be any abandonment of [part of] this site."
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Scott concluded her remarks by promising that Stoltz "will continue to be meeting with people in the community and talking about the project" as it moves forward.