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Promenade Development in Newtown Township Nearing Completion
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This video and article posted Wednesday, July 22, 2015 4:45 am | Updated: 10:42 am, Wed Jul 22, 2015.
The lengthy quest to redevelop the site of the long vacant Acme supermarket on Sycamore Street in Newtown Township is almost over.
Newtown Athletic Club owner and developer Jim Worthington said his project called Promenade, consisting of 26 luxury apartments and several stores, is nearing completion. He said the retail anchor, the women’s clothing and accessories chain Anthropologie, should open around Sept. 1 or possibly before, and that two other retail spaces and several apartments should fill up soon thereafter.
The two other retailers that have signed leases are Bernie Robbins Jewelers and Verizon Wireless, which will be located next to Anthropologie on the first floor of the project’s main three-story building. Worthington said there is room for one or possibly two other retail tenants on the first floor of the main building, and that he’s also trying to nail down a deal for a retailer to occupy the project’s other building, a much smaller one-story structure.
“We’re delivering one of the premier retail and apartment living developments outside of Philadelphia,” said Worthington of the $18 million project.
“We already have deposits on 13 of the 26 apartments, which is very unusual at this stage,” he added.
The one and two-bedroom apartments, which will fill the top two floors of the main building, are between 1,200 to 1,600 square feet and will have monthly rents ranging from $2,000 to $3,000, said Worthington. Each will have its own balcony so occupants can look out over Newtown Township and Borough and the surrounding area, he added.
Worthington said the cabinetry, flooring, lighting and other amenities being installed in the apartments by Rittenhouse Home of Newtown — owned by Upper Makefield resident Jennifer Poe — will remind people of high-end apartments in Center City Philadelphia.
“It’s top of the line,” said Worthington.
He isn’t the only one excited about the impending arrival of Promenade.
“It’s a wonderful example of how the Newtown business community is growing in the right direction,” said Newtown Business Association President Mick Petrucci. “The property is being developed beyond expectations. It is an absolutely beautiful addition to the landscape of Newtown’s business community and will be a great destination for people to live, walk and shop Newtown. The residents have waited a long time for this property to be developed and it will be a wonderful addition.”
Ryan Gallagher, chairman of the Newtown Township board of supervisors, had similar thoughts.
“As construction of the Promenade is finally coming to fruition, I think it is bringing into focus what the vision for Sycamore Street has been for many years, and that is to create a pedestrian-friendly district where folks can shop, dine and enjoy Newtown,” he said. “To see this property go from a dilapidated eyesore to the historically inspired building that it is now, is a testament that our town’s economic development initiatives are working and we need to continue those efforts while preserving our history. That’s what makes Newtown special.”
“I’m looking forward to seeing the building finally completed,” Gallagher continued. “It will bring a renewed energy to that part of Sycamore Street.”
Worthington credits Newtown Township officials for their cooperation in moving along the project.
Construction of Promenade has been handled by Worthington’s own building company, NAC Construction.
“Vince Keenan, our construction president, deserves a tremendous amount of the credit for getting this built,” said Worthington.
He added that the efforts of local Anthropologie executive Dave Ziel have been invaluable.
“Without Dave, there would be no Anthropologie here, and there would be no Promenade,” said Worthington.
The project should be a major link between businesses in Newtown Borough and the township, he added.
“It’s like filling in the hole in the doughnut,” said Worthington. “And I think it will be a real shot in the arm to the stores, restaurants and other businesses throughout the borough and township and surrounding area. I believe it will be a huge asset. I’m tremendously proud of it.”