Penn Square Partners Reality Check

Remember when "they" fixed up Lancaster Square? "They" is the establishment. Remember that. Who is today's "they"? The Penn Square Partners of course! "They" are just like they old "they". "They" know everything" and will tell us - the taxpaper - how to spend our money!

Are the Penn Square Partners (PSP) telling the truth now? Or were they telling the truth 6 years ago? You be the judge. From the vault, 5thEstate.com pulls out video from July 24, 2001 while President of the PSP, Nevin Cooley, explains that the partnership was formed "...with one and only one mission"! And what was that mission? To find an adaptive reuse of the Watt & Shand building! Instead of preserving the historical value of the building - the PSP ripped it down!

Amazingly, the Lancaster Newspaper continues to act as though we have no memories (or in this case video) of what REALLY happened. (Does anyone remember the George Orwell book, 1984?)

With apologies to Rod Steward and The Eagles, here's something we put together on the 6th anniversary of the Marriott announcement and why the PSP were doing what they were doing - enjoy!

Category:

Entertainment

Tags:

• Ron
• Harper
• Jr
• Dale
• High
• 5thEstate.com
• Penn
• Square
• Partners

[drewish927]

Yeah, I guess trying to develop a city is a bad idea... I suppose creating hundreds of jobs for a city isn't good either. I suppose leaving this city with so many "crime" problems the way it is would be a better idea.. get a clue, these updates will ulitmately bring more money and commerce to Lancaster, which will in turn make the standard of living better. but no you're probably right, lets leave this great city stagnant and unchanging...

[ronharperjr]

Look - if you took $100 million and gave away gift certificates "Red Rose Bucks" you would create more business who would try to capture those bucks. This project is like having a deal on a car that you can't afford and you know that the first time it needs a repair you are going to take a dive financially. It would be BETTER to get out of that car deal BEFORE crashing and burning.

rh

[drewish927]

So, by your rationale, then building the hotel and convention center is okay, but once it's finished being built the city will lose jobs and money... The hundreds of new housekeepers, engineers, front desk agents, restaurant workers, and anyother job that needs filled won't matter because they'll just cost money? Perhaps I'm missing something Ron, but I don't see how the hotel won't bring in jobs and revenue.

[ronharperjr]

Taxpayers are paying $200 million to build it and will spend million and millions every year to underwrite it. And that's if it goes as project cheerleaders predicate.

This project is a dog from the get go and does not have enough revenue to pay for it's losses. As taxpayer's are forced to come up with more money - it will hurt the county as the room rate makes people leave lancaster county a day early and not spend as much because they are paying more and more of a bed tax.

[drewish927]

Ron,

What do you feel the negative outcomes of this project will be once it is finished? The way you and Artie are both talking, then every city should just stop spending money and developing because if they do, a few tax payers might get upset... Spending money and making progressive decisions is what makes American Cities great!

[ronharperjr]

That's a good question because their is no reasonable answer. Why have they traded their responsibility to enrich a few at taxpayer expense?

rh

[ronharperjr]

You are apparently missing the point. They used the building and the preserving of that building as an excuse to extract $100+ million of taxpayer money for their own benefit.

There were many proposed uses of the building that were never considered because Dale High and the Steinman Newspapers would never get taxpayer money!

[flauzus]

I grew up in Lancaster city within walking distance of downtown and have shopped in the old Watt & Shand store. While the outside was and still is quite magnificent, the inside was nothing special. This was not like John Wanamaker or Strawbridge & Clothier in Philly, we're not talking Fulton Opera house here. So they gutted it, no great loss. This building has been unused since 1995. At least someone has found a way to utilize the property and still preserve the old façade.

[drewish927]

Answer me this Arie. Why, exactly, would the decision makers in Lancaster City want to cost it's people money? last I checked, it was the city councils job to make people want to live in Lancaster, not move away... look forward to hearing your thought on this...

[artieseelancasterpa]

drewish: The way this project is structured, it will cost taxpayers a LOT more than it could ever bring to Lancaster. Out of a $176 million project, only $11 million in "equity" is private money; the rest is either taxpayer dollars, or guaranteed by taxpayers. The "private" hotel is being built and will be owned and guaranteed by the City of Lancaster. The convention center is expected to lose more money than current taxes can pay. Tax hikes are unavoidable. We the people are being screwed.