A few days ago, I shared the exciting news that Strategic Realty Investments (SRI) was named the master developer for the Paoli Rail Yard project. One of the principals of SRI, Peter Monaghan is community-oriented and understands the importance of engaging the local residents in the process. Both on a personal level and also as a board member of Paoli Business & Professional Association, I was happy to applaud the choice! Peter kindly took the time to offer the following thoughts on the Paoli Rail Yard project and I wanted to share them . . .
First and foremost I wanted to thank for your kind words of support and well wishes for the Paoli rail yards project. And thanks for your continued good work supporting Tredyffrin Township and its residents. I wanted to highlight a few matters that I think are important to consider in light of your December 20th blog post.
The redevelopment of the Paoli rail yards is in the very early planning stages, and while Strategic Realty Investments has recently been named master developer for the site, no decisions have been made as to what will be constructed there beyond the long awaited new Paoli train station, new transit parking garage and related transit infrastructure to replace the very outdated existing station and parking. A comprehensive vision that will benefit all stakeholders will be crafted in the coming months. Our goal is to provide all stakeholders with the opportunity to have input into the planning process. To that end, Strategic Realty will be holding a series of small group meetings within the community, and we will be sure to let you know the details so you can inform your readers.
In addition, we are at least 18 months from breaking ground at the site. The first phase of the project will address modernization of the Paoli Train station, and many infrastructure improvements are also in the queue as first steps toward redevelopment of the site. Long story short: we have ample time for the economy to recover before any ribbon cuttings occur. In the interim, our goal is to build a vision for the site that provides a unique transit-oriented asset in the heart of Paoli with a range of resources that benefit the community as a whole. This vision will be created in a collaborative manner, with consideration given to other resources already existent in the community such as the Worthington development.
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