April 15, 2021 – Coatesville, PA – The sale of Coatesville’s largest parcel (26.3 acres) known as the Flats was approved by a resolution on Monday, April 12 during a City Council meeting. After carefully vetting proposals, conducting public meetings, project reviews and negotiations, Coatesville’s Redevelopment Authority (RDA) recommended the sale of its largest commercial property in the City’s Qualified Opportunity Zone to IDG Development LLC, a Coatesville-based company comprising a joint venture between New Heritage Properties and Activated Capital.
“I was delighted that my colleagues enthusiastically approved the Flats agreement in a 6 – 1 vote,” says Linda Lavender-Norris, Coatesville City Council President. “It’s so exciting to see the vision for the City of Coatesville coming to fruition. It’s been a long time coming, but it’s been worth the wait!”
IDG Development revealed plans for a National Sports and Events Center at Coatesville’s gateway during a city council meeting in March. The $50-million project sets in motion a much-needed economic development stimulus for Coatesville. The proposed multi-use sports facility, velodrome and events center will be a world-class facility serving the City and the entire region.
“We have worked hard to assemble a dynamic team to develop and manage the National Sports and Events Center that will drive opportunity and prosperity for the City of Coatesville for generations to come,” says Crosby Wood, Principal, New Heritage Properties.
“Our investors are very pleased with our existing involvement in Coatesville, and the double-bottom-line achievements made so far from our Qualified Opportunity Zone portfolio. The Flats project is a perfect progression that allows us the opportunity to continue to leverage our collective strengths and make additional impact in the community,” says Josh Burrell, Managing Partner, Activated Capital.
“The RDA is very excited about the proposed sports and events center project,” says Joseph DiSciullo, Chairman of the Coatesville Redevelopment Authority. “The project will make Coatesville a destination for those in the area and beyond. In addition, it will provide jobs, an economic boost to encourage revitalization of the downtown, and youth programs for our young folks. I am thankful for the efforts of the RDA Board members and City Council for their support of the project.”
“This is a major project that will create multiple ripples in the sea of development including housing, job creation, education, small business development, infrastructure, transportation and quality of life improvements, but it is only the beginning,” says Coatesville City Manager James Logan. “It sets the stage for new investors to turn to Coatesville as they recognize the cultural richness and the hard-working spirit from generations of steel workers who put Coatesville on the industrial manufacturing map. It’s that same passion that drives our residents today. This is more than an economic shot in the arm—it’s a turning point toward a revitalized city and region.”
“The RDA worked so hard on helping to bring the IDG Development project to fruition, and I’m excited that Council voted in favor of it,” says Coatesville City Council Member (At-Large) Khadijah Al Amin. “Just as other projects are blossoming in the city, I look forward to watching their dream come to life, which will bring us jobs, revenue and activities for children, families, and visitors to enjoy.”
“With this approved resolution, we are finally turning a page in the chapter of Coatesville’s revitalization,” says Ed Simpson, Coatesville City Councilman (First Ward). “We look forward to the creation of a destination center that will serve our residents and draw people from beyond the City. The proposed velodrome and events center offers the City transformational possibilities by connecting Coatesville to the national cycling audience and providing opportunities for ancillary businesses and services along with the jobs to support them.”
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About the Coatesville Redevelopment Authority (RDA): Created in 1999 by the Coatesville City Council, the RDA’s mission is to facilitate commercial, industrial and residential redevelopment, promote economic development, encourage home ownership, rejuvenate neighborhoods and eradicate blight within the City of Coatesville.
About the City of Coatesville: The first and only city in Chester County, Coatesville is home to 13,000 neighbors and is undergoing economic and cultural revitalization that integrates innovation, education, and smart economic development, fueled by four Opportunity Zone tracts and a lively entrepreneurial spirit grounded in its historic past. Founded in 1915, Coatesville’s Historic District features many resources listed on the National Register of Historic Places. The City is home to the nationally recognized Coatesville Invitational Vintage Grand Prix.
Media Contact: Ellen Langas, NouSoma Communications, Inc.
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The Flats in Coatesville – Courtesy Justin Chan-Valley Creek Productions