Competitive Communities LLC, a private economic development consulting company, has been selected by the City of Coatesville’s Redevelopment Authority to vet three submitted proposals for the development of a 22-acre tract known as “The Flats,” according to a report from the Daily Local News.
The property, located at the northwest corner of the intersection of First Avenue and Lincoln Highway, was previously an industrial site. It is the largest commercial property currently available in the city’s Qualified Opportunity Zones.
The three proposals range between $30 million and $60 million and were presented last month during a public meeting.
“We’re excited to have three major prospects submitting proposals to develop this important space,” said Michael Trio, Coatesville City Manager. “All three bids are strong, and we look forward to the RDA’s recommendation.”
The RDA expects to have the report from Competitive Communities ready for its next public meeting, which will be held on June 15. Following the presentation, the RDA Board will deliberate and vote on its final decision. It will then make a recommendation to the City Council, which will vote to accept or deny the RDA’s selection at a separate public meeting.
Read more about the development proposals in the Daily Local News here.