The site of a former manufacturing plant in Dunmore may turn into more housing for the community.
The former BAE Systems Specialty Defense System of PA Inc. building in Dunmore recently sold for $235,000 to 530 Sherwood Development LLC.
“Our plan is to develop residential townhouses for sale at the location,” said Jerry Ferrario, who is developing the property with brother Joe Ferrario and Mike Vacendak.
The developers are seeking borough approval to construct 16 units on the one-acre-plus property located at 530 Sherwood Ave.
Dunmore Borough Code Enforcement Officer Gene Walsh said the land development plans for the project are currently under review.
“Based on what I what I saw, it looks like a really nice-looking development,” he said.
John Cognetti, president of Hinerfeld Commercial Realty, was involved in the property transaction and said the developers’ plans “would be providing a type of housing that’s not (currently) available.”
If the land development plans are approved, the brothers say they will demolish any existing buildings on the property. Joe Ferrario said demolition would start soon “with approval and no unforeseen issues.”
Despite a rough economy, Mr. Cognetti said it wasn’t hard selling the property “because of the uniqueness of the product. Dunmore is a desirable place (to live) and there’s not a lot of land available to purchase.”
The brothers are also keeping the economy in mind when talking about the potential project’s timeline.
“We’re cognizant of the recent economy and based on that, we’re cognizant of the potential timing change that may be involved,” said Joe Ferrario.
-Courtesy of The Times-Tribune
