On August 7th, Governor Edward Rendell announced that the state will award $6 million in grant funding to Lower Merion Township for the Ardmore Station project that includes Dranoff Properties’ plans to revitalize Ardmore. Governor Rendell made approximately 40 grant funding announcements for projects in Chester, Montgomery and Bucks counties at the Keystone Helicopter Headquarters in Coatesville, Pa.

Governor Edward G. Rendell kicked off a five-day, 16-stop bus tour on Monday to announce more than $1.9 billion in new investments in 25 counties that will keep almost 30,000 Pennsylvanians working, improve public safety, grow the economy and build stronger communities.

The Governor’s statewide bus tour is announcing $642 million in new state investments in 25 counties that will leverage more than $1.3 billion in private and local investments.

In early July, the Lower Merion Board of Commissioners approved a memorandum of understanding (MOU) with Dranoff Properties. This established the Township’s intention to arrive at a master development agreement with the Dranoff team for the Ardmore Transit Center and Central Business District Revitalization.

Dranoff Properties’ project, Ardmore Station, is a $180 million transit-oriented development that will create a vibrant and walkable village with sufficient critical mass to attract new residents, businesses and customers. Initial plans call for approximately 335 residences; 30,000 sq. ft. of retail and restaurant space; 8,500 sq. ft. of office space; and approximately 750 public parking spaces and 335 private parking spaces. There are four distinct phases, with an expected 60 month build out. The first and second phases incorporate the new train station, a mid-rise residential structure, parking, retail shops, and office space.

“The MOU was an important accomplishment because it authorized Dranoff to act in an official capacity on behalf of the Township,” stated Bruce D. Reed, Board President. “As a result, the Township was included in the Commonwealth’s Redevelopment Assistance Capital Program, or RACP, which is a grant program for the acquisition and construction of regional economic, cultural, civic, and historical improvement projects. The proven ability to secure this type of grant funding is just one reason why the Township has chosen to partner with the Dranoff team.”

Projects given priority status for available capital funds, such as the Dranoff’s Ardmore Station project, are those that display significant potential for improving economic growth and the creation of jobs.

“This grant demonstrates the confidence of the Governor in our transit-oriented development design, which favors mass transit and pedestrians over cars in walkable locations and our ability to secure funding to take this project from concept to construction,” says Carl Dranoff, President of Dranoff Properties. “We were able to secure the grant in such a timely manner thanks to collaborative teamwork between the Lower Merion Township commissioners, AMTRAK, SEPTA, Montgomery County Commissioners and Senator Connie Williams and Representative Daylin Leach.”