University Crossings

The economic revitalization of the city of Chester is taking a major step forward with the construction of University Crossings, a $50 million Widener University project that will bring several businesses and services to Providence Avenue in Chester as well as create up to 60 new jobs. A ceremonial groundbreaking took place on August 30th, 2007.

Scheduled Completion - Fall 2008

University Crossings includes the construction of three, four-story buildings on the west side of Providence Avenue between 14th and 16th streets. Construction is ongoing, with the first buildings to be completed by fall 2008. Businesses and services in University Crossings will include a(n):

• Full-service bank.
• 24-hour convenience store.
• Chester Police substation.
• Bookstore.
• Coffee shop.
• Full-service restaurant.
• Apartments.
• Offices.
• 48-room hotel.

Economic Impact of $10 Million

The land, which is currently tax exempt as part of the university, will be added to the Chester tax rolls. Over the next 10 years, University Crossings will provide an estimated $1.8 million in real estate tax revenue to the city and the Chester Upland School District, more than $800,000 in earned income tax revenues from the new jobs created, and $600,000 in business privilege taxes. In addition, University Crossings is expected to produce an economic impact of $1 million each year.

"This is part of an ongoing effort between Widener University and Crozer-Chester Medical Center to help revitalize Chester by attracting businesses and jobs to the city," said Widener University President James T. Harris III. "This is for Chester. It is something that all the residents of the city can be excited about and take pride in."

According to Ahsan Nasratullah, chief executive officer of Teres Holdings Co., LLC, the store-front and retail businesses will have very strong curb appeal, and the area will be accentuated with a landscaped pedestrian walkway, a courtyard with seating and public art, and new lighting standards. Teres Holdings Co. recently completed similar projects at the University of Pennsylvania and Liacouras Walk at Temple University.

"University Crossings will be located directly between Widener University, Crozer Chester Medical Center and a technology park," Nasratullah said. "it is also located near residential neighborhoods and it's close to a number of primary schools and churches. It will draw from all of these communities surrounding the Providence Avenue corridor. Location is very important to the success of a business, and this is a prime location."

The project is being financed by use of the New Market Tax Credit that is made available through The Reinvestment Fund with funding from Sovereign Bank, Nasratullah said.

Apartment/Office Leasing
Ahsan Nasratullah
Chief Executive Officer
Teres Holdings Co., LLC
tel: 215-751-0150

Retail Leasing
Steve DiPetris
Legend Properties
tel: 856-231-1010