HBA Newswatch
April 7, 2008
HOUSING AND AUTO LAYOFFS EXPECTED TO BE HIGH
By Martin Crutsinger, Of The Associated Press
WASHINGTON --- Hospitals, schools and the assembly line at an airplane factory look like pretty good places to be with a recession looming and unemployment rising. Construction workers, real estate agents and auto workers aren't expected to fare as well.
The startling news that the economy lost 80,000 jobs last month and nearly a quarter-million over the last three months is the starkest signal yet that the country has probably fallen into a recession, with things on the job front expected to get worse.
"All the indicators suggest that we will see even larger job declines in coming months. Businesses are getting nervous and pulling back," said Mark Zandi, chief economist at Moody's Economy.com.
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DEVELOPMENT NOT STOPPED BY ECONOMY
Municipalities continue to get many building proposals for area
By Margaret Gibbons
Despite the sinking economy, developers still have faith in Montgomery County, according to the county planning commission.
Citing the development proposals submitted to municipalities last year, the county planners say developers continue to believe people still want to live, work and shop in the county.
Municipalities last year got a combined 302 new residential and nonresidential development proposals, according to staff planner Mary Morrison.
Admittedly, this is 61 fewer new proposals than were received in 2006 and represents a 10-year low, she said.
“This is the economy in action,” said planning-commission director Kenneth B. Hughes.
Hughes also emphasized that these are only proposals and that there is no guarantee a municipality will approve them or that a developer whose plans are approved will follow through with those plans.
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DEVELOPER REQUESTS TAX RELIEF FOR 98-ACRE PLAN
THREE MEMBERS OF THE GREAT VALLEY SCHOOL BOARD JOIN WORKING GROUP TO INVESTIGATE TAX BREAK PROPOSAL FOR UPTOWN WORTHINGTON
By and ANNE PICKERING, Staff Writers
EAST WHITELAND — Representatives from O’Neill Properties Group recently presented information to the Great Valley School Board about a tax relief program for a mega-project.
Philadelphia developer Brian O’Neill is seeking tax relief for his Uptown Worthington, which will be built on a 98-acre parcel at the intersection of Route 202 and Route 29 in Malvern. The project will include retail businesses, offices, condominiums and hotel space. The developer is anticipating about 3,000 new full-time jobs to be created upon completion of the development and lease-up for this project.
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DEVELOPER EYES TRACT FOR RETAIL
SHOPPING CENTER BEING CONSIDERED FOR 80-ACRE PARCEL AT ROUTES 30 AND 10
WEST SADSBURY — A developer may put a new shopping center on an 80-acre tract at the northwest corner of routes 30 and 10.
Several years ago, the developer, Bedwell Co. of West Chester, proposed 300 townhouses for the same tract behind the super Wawa but is now rethinking its options.
The site would “be good for either,” said Randy White, vice president of business development at Bedwell.
White was mum on many of the details of the retail center but confirmed the company presented a conceptual plan to the township. The retail center would include a big-box store, a hotel and smaller stores for local retailers, White said, adding there also is a possibility of a supermarket.
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