WEST CHESTER TWP. – Officials are hoping three times the charm when it comes to the sale of the former West Chester business centre.
Administrators on Tuesday night approved a purchase agreement to sell the 16,389 square foot structure to Quattro Development for $2.25 million.
The development corporation could use the property for a Montessori school, said Lisa Brown, deputy township administrator.
It’s the third time the property has been under a sales contract since it closed in 2019 when nonprofit Community First pulled out of its deal to provide programming, management and maintenance of the center.
“We are at the first step of a long road here, which will end in 150 plus three days,” said Mark Welch, chairman of the board.
“It’s not over until we close. Much depends on them at this point. But I can tell you this – we will fulfill our obligation to the end.
Built in 1984, the building was used as a branch of the township’s MidPointe Library and later as an activity center.
The structure is being sold “as is” and the buyer was advised that the roof and HVAC were in poor condition and needed repair or replacement along with other issues, Welch said.
Under the deal, buyers have three days to sign, then begins a 60-day inspection period during which Quattrum can opt out of the sale without penalty.
If Quattrum proceeded with the process, he would still have 30 days to work on government clearances and related issues. A 30-day extension could be granted if needed, Brown said.
This is the third contract the township has entered into to sell the building and the 3.77-acre parcel it sits on.
In September 2019, the administrators reached a sale agreement with Regency Centers Acquisition LLC, which wanted to build a new Kroger store, but that agreement fell through.
In April, the municipality agreed to sell the building to RS. Professionals for $1.9 million. Dr. Muhamed Aziz had planned to renovate the property for medical practices.
At the end of May, that deal fell through after an inspection showed the extensive remodeling that would have been required.