FOR IMMEDIATE RELEASE                                    Contact: Gretchen M. Wintermantel
July 2, 2007                                                        202-225-6511                     
 

Congressman Kanjorski Tours Progress of Hotel Sterling Site

Wilkes-Barre, Pa. -  Congressman Paul E. Kanjorski (PA-11) today toured the Hotel Sterling with Wilkes-Barre Mayor Tom Leighton and Alex Rogers, Executive Director of CityVest.

Once the jewel of early 20th century Wilkes-Barre, the Hotel Sterling fell into disrepair and was condemned in 1998. In 2001, Preservation Pennsylvania included the Sterling on its list of "at-risk" historically significant sites. Using a $1 million federal grant obtained by Congressman Kanjorski, and a $4 million loan from Luzerne County, the non-profit organization CityVest also worked with Luzerne County, the City of Wilkes-Barre and the Wilkes-Barre Area School District to use back taxes owed on the Sterling as bid credits to purchase the hotel in 2002.

"CityVest is fulfilling its mission as the "developer of last resort" in transforming what has been an eyesore into a building that will once again be the pride of Wilkes-Barre," Congressman Kanjorski said.  

CityVest has already invested more than $3 million in selective demolition and environmental cleanup. Demolition of the hotel's 14-story tower, added on to the hotel in 1928, was completed in February 2007. Five floors of the remaining building will be renovated into residential condominiums, and the first two floors will be used for commercial space.

CityVest recently kicked off a formal marketing phase by distributing surveys to more than 75 people who have expressed interest in purchasing space in the building. Lots adjacent to the property have been acquired to provide ample parking. 

In the coming months, construction costs and financing are expected to be finalized, application for the building permit will be submitted, and construction contracts will be put out to bid and awarded.

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