The Archdiocese of Philadelphia has entered into an agreement with Carlino Commercial Development for the sale of the 213-acre Don Guanella property in Marple, writes Natalie Kostelni for the Philadelphia Business Journal.
The developer – renowned for its retail centers, including Brandywine Mills in Glen Mills – has also been involved in office and multi-family projects. Under the agreement, Carlino will develop 40 acres of the property, while leaving the remaining 173 acres as protected forest.
The Don Guanella School at 1797 Sproul Road is one of several properties owned by the Archdiocese that it has been looking to sell in recent years.
Thomas Croke, the Archdiocese’s director of real estate, confirmed that the property was under agreement, but declined to comment until the deal was finalized.
This was not the first attempt by the Archdiocese to sell the Marple property. Last year, it was under agreement with Goodman Properties for $47 million. However, the developer’s plan for a retail building and residential units was rejected by residents and the township supervisor, so the Archdiocese pulled out of the deal.
Read more about the Don Guanella property in the Philadelphia Business Journal by clicking here.