Created on Tuesday, 01 May 2012 22:52
Lansdale officials Tuesday night held a town meeting to put the spotlight on the redevelopment of the Madison Parking Lot. B-P-G Properties, the real estate management firm that the borough has chosen to spearhead the project, shared its vision for the seven-and-a-half acre site with about 50 Lansdale residents. What's in the works is a five level parking garage near the SEPTA tracks, 30,000 square feet of retail space with apartments on top along Madison and Wood Streets as well as about 50 townhomes towards the back of the site near the freight train yard. B-P-G Properties executed a purchase and sale agreement for the Madison Lot with the Borough Parking Authority in March. The developer is currently evaluating environmental hazards on the property along with other risks as part of its due diligence before the deal is finalized.