среда, 14 марта 2012 г.

Developers secure key property in York

For nearly 40 years, Frysinger Rohrbaugh received countless offers from real estate agents and developers interested in buying her property in downtown York.

But the owner of the 24 N. George St. building refused each one.

Then, last year, Rohrbaugh died, and the bank took over the building. Months later, York County landscapers Joe Anthony and Jeff Edwards acquired it.

They plan to renovate the building and put in retail shops and offices.

So, why did Rohrbaugh keep the building, despite the fact that it was vacant for 37 years?

According to Anthony, it was because she believed York city hurt her father's business. Rohrbaugh's father, Walter J. Smutz, ran a leather goods shop from 1903 to 1964 at 24 N. George St. At some point during that period, the city stopped using steam heat, which Smutz used for his day-to-day business operations.

Anthony said, as he understands it, Rohrbaugh never forgave the city and kept the building in protest.

The building had housed Walter J. Smutz Leather Goods from 1902 to 1964, according to York County Heritage Trust records. The Italianate row house dates to the 1850s.

The partners intend to spend between $350,000 and $450,000 on renovations to the 6,000-square-foot building, across from where a government courthouse complex is being built.

Anthony and Edwards, both of Manchester Township, expect to lease out the first floor as retail shops and lease the top two stories for offices.

They purchased the building for $60,000 in January.

"With the new courthouse going up, I think a lot of people expect a lot to start happening downtown, and we want to be part of it," Anthony said.

The building is in York's historic district, and it is also part of York's historical architectural review board district, meaning the city must approve all renovation plans before construction can begin. The building has another distinction, too - it is in one of York County's tax-forgiving Keystone Opportunity Zones.

The KOZ program is a state program designed to help revitalize the city by selling vacant, dilapidated or underutilized properties to business owners. Investors who agree to renovate those types of properties are freed from paying state or local taxes for up to 11 years.

Ted Turnbull, a real estate agent with Coldwell Banker Commercial Rotz Associates Inc. in York, is marketing the property for Anthony and Edwards. Turnbull said he has identified prospective office and retail tenants, but none have signed yet.

A baked-goods company and a coffee shop have expressed interest in leasing space on the 2,000-square-foot first floor, Turnbull said. He declined to disclose the names of the businesses, though he did say that all have existing York County operations.

Turnbull expects it will take nine months before the first tenant is up and running in the building. Architectural drawings for the renovation project should be finished by midAugust, he added. Soon afterward, plans will be submitted to the York City Planning Commission for approval.

The building is not in bad shape, Anthony said. There is some water damage on the facade, and the building will need new plumbing, wiring, heating and air-conditioning systems, he said. An elevator might be installed, as well, for the future office tenants.

Anthony would like to have construction started by fall or winter. He confirmed Turnbull's estimate, saying he hopes to have space available for rent by spring of 2002.

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