A new developer has emerged and have officially announced their intent to develop the 70-acre tract of land know as the old papermill property that has been picked for the new train station.
Hankin Group, a 50-plus-year-old Exton-based real estate development, construction and management company, officially announced, in coordination with the Downingtown Borough, Hankin’s acquisition of an approximately 70-acre tract of land located at the intersection of Boot Road and Pennsylvania Route 322 in Downingtown Borough and East Caln Township.
The paper mill property experienced a fire in 2005 and has been abandoned ever since. It has been an eyesore for the community and even prompted a comment from President Trump while driving through campaigning in Chester County.
Previous attempts to develop the area was stopped by Downingtown Borough officials. Hankin Group is optimistic about the opportunity to develop the land.
“The opportunity to build a mixed-use development next to a train station in a great place like Downingtown doesn’t come around often,” said Neal Fisher, vice president of Development for Hankin. “We are truly excited to become a bigger part of the Downingtown community, and look forward to developing a first-rate Transit Oriented Development at the site of what we hope will be the new train station.”
Full article at The Daily Local