For us, this is breaking news. The citizens of Ardmore and Lower Merion have been at this seemingly forever....that being said:
The Save Ardmore Coaltion is shocked at the following press release just discovered on the Lower Merion Township Website! What is even more interesting? We are wondering as a group who sends representatives to the Ardmore Ad Hoc Meetings, why it is we weren't notified (a)prior to the press release going up on the township website www.lowermerion.org (b) at the same time the press release was posted and sent out.
What is going on in Ardmore? What does this mean for our town? What developer will we get now? First ArcWheeler pulls out of that Daylesford/Paoli project a couple few weeks back, now EBL&S pulls out of Ardmore? We will note the press release cites downturn in credit markets, which is a no brainer, as our economy is in the toilet...but is there something more to this story?
Sign us waiting and watching very closely. And very curious. Also note this developer has bailed during the negotiate the contract phase.
The EBL & S development team, which had been chosen in January by the Board of Commissioners to enter into negotiations with the Township for the Ardmore Transit Center and Business District Revitalization Project, has withdrawn from the negotiation process. The recent downturn in the credit markets was cited by EBL&S as the reason to discontinue talks with the Township.
“It is with great disappointment that we have learned about EBL&S’ decision,” stated Bruce D. Reed, Board President. “Our Board was impressed with the bold vision presented by Edward Lipkin and his team; however, the Township’s goals for Ardmore’s revitalization remain the same and will continue to move forward.”
The suspension of negotiations with EBL&S will be discussed at a special meeting of the Township’s Economic Revitalization Committee on March 5th. The Township’s plans to create a process that ensures continued public process and momentum for Ardmore’s revitalization will be outlined at that time.
“From a business standpoint, our decision was a difficult one to make,” remarked Edward Lipkin, EBL&S President. “Perhaps more difficult was to withdraw from a project so important to me personally. I couldn’t have been more satisfied with the Township’s negotiating team and the Township’s approach as a whole to this process. I have the highest regard for the elected officials, Township staff, and citizens involved with the Ardmore process during these recent weeks. I encourage the other development teams to take advantage of this turn of events and reaffirm their interest in helping Ardmore realize its potential.”
The Township’s goals for the Ardmore Transit Center and Business District Revitalization are posted on www.lowermerion.org. Also posted are proposals by all development teams that responded to the Township’s Request for Proposals (RFP) as well as the teams’ responses to a list of questions posed by citizens and elected officials.
With the EBL&S announcement, the remaining three development teams that submitted comprehensive proposals for the Ardmore Transit Center and Business District Revitalization are:
· BET Investments
· Dranoff Properties
· Strategic Realty Investments
A fourth, Mariner Commercial Properties, responded to the RFP by submitting a single-site proposal for the Cricket Avenue lot in Ardmore.
“When the Township chose to enter into negotiations with EBL&S, we also noted the quality of submissions by the other development teams,” remarked Commissioner Elizabeth Rogan, Chair of the Economic Revitalization Committee. “Though the withdrawal of the EBL&S team is unfortunate, our Committee will review the comprehensive proposals of the other excellent teams to ensure that the best decisions for Ardmore’s future are made.”
