Agreement of Sale signing ceremony jumpstarts development at Norristown State Hospital скачать в хорошем качестве

Agreement of Sale signing ceremony jumpstarts development at Norristown State Hospital

On Monday, 2/24/2024 Municipal and county officials signed off on an agreement of sale with Pinnacle Realty Development Company (PRDC) to start the largest, most transformational redevelopment project in Norristown’s history. The formal signing ceremony of the agreement of sale at Norristown Municipal Hall will grant the developer the opportunity to start development of the almost 70 acres of former Norristown State Hospital grounds located in the municipality. After a years-long conveyance plan and land planning study by the Commonwealth of Pennsylvania to analyze feasible future uses of the property, 68 acres of hospital land was deeded to the Montgomery County Redevelopment Authority (RDA) on behalf of the municipality in Nov. 2022. The RDA issued Requests for Proposals to solicit plans from around the nation to develop the site, receiving five proposals that were reviewed by municipal council/staff and the RDA. Municipal Council on April 16, 2024 unanimously approved the Norristown State Hospital Redevelopment Proposal submitted by PRDC on the condition that the RDA and PRDC execute a redevelopment contract to the satisfaction of the Municipality.