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On behalf of our developer client, Gallagher recently closed a 13-acre mixed-use urban infill redevelopment project in Wyomissing, Pennsylvania. Real Estate and Business Transactions Group attorneys Mark Keener and Alison Lambert handled the condominization and transfer of a 330,000-square-foot abandoned industrial building to be converted into 248 market-rate apartments, plus 31,000 square feet of retail space, 200,000 square feet of office space, and a new 135-room hotel. This was a significant transaction. Development will revitalize the existing brownfields site and provide an economic catalyst to the surrounding area. Work is expected to begin on the site in early 2008.
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