Coatesville, Pa., once a thriving steel town in the rolling hills of Chester County, has struggled over the years to attract developer interest and investment dollars but Jim DePetris believes its time has finally arrived.
DePetris and his family run Legend Properties, a commercial real estate brokerage. The company's affiliate, DEPG Associates, is making a bet on what he believes is Coatesville's long-overdue revival. In fact, he believes that a $15 million to $17 million project that spans a block long at the intersection of Route 30 and Route 82 could be just the right catalyst for additional development and investment.
DePetris closed on buying the former Lipkin furniture store and is in the midst of acquiring other structures to make way for his vision. The development would have 20,000 square feet of retail at street level and 44 market-rate apartments.
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