Hill St & Delaware Street, Jessup, PA 18434 (MLS# SC-250085)

Hill St & Delaware Street, Jessup, PA 18434

New Listing
$2,900,000
Property Type: Land Lot Size (sq. ft.): 522,720 Status: Active
Current Price: $2,900,000 List Date: 1/07/2025 Last Modified: 1/07/2025

Description

This remarkable 12-acre parcel of vacant commercial land is fully approved and ready to break ground for a 146-unit Senior Housing Apartment project. Strategically located in Jessup, PA, this project has been meticulously planned to meet the growing demand for senior living. The development includes two thoughtfully designed three-story buildings. Building One features 71 units, consisting of 56 one-bedroom and 15 two-bedroom apartments. Building Two offers 75 units, with 30 one-bedroom and 45 two-bedroom apartments. The project is shovel-ready, with approvals in place, including a completed land development plan, NPDES permit, and building drawings ready for code review. Adding to its appeal, this property offers significant financial incentives, including a 10-year LERTA providing substantial tax savings and PA Opportunity Zone eligibility for long-term investment benefits. This is an unparalleled opportunity for a developer to bring a fully approved, ready-to-go senior housing community to life in a prime location. Act now to turn this vision into reality and create a lasting impact in a growing market.

More Information MLS# SC-250085

Contract Information

Current Price: $2,900,000 List Price: $2,900,000 Status: Active Listing Contract Date: 2025-01-07 Property Sub Type: Unimproved Land Listing Agreement: Exclusive Right To Sell Owner Name: Jessup Crossings LLC

Location Tax and Legal

Street Name: Hill St & Delaware Street Suffix: Street State: PA Postal Code: 18434 County: Lackawanna

General Property Information

Lot Size Acres: 12 Lot Size Dimensions: 12.00 Waterfront YN: No Auction YN: No List Price/Acre: 241666.67

Remarks and Miscellaneous

Public Remarks: This remarkable 12-acre parcel of vacant commercial land is fully approved and ready to break ground for a 146-unit Senior Housing Apartment project. Strategically located in Jessup, PA, this project has been meticulously planned to meet the growing demand for senior living. The development includes two thoughtfully designed three-story buildings. Building One features 71 units, consisting of 56 one-bedroom and 15 two-bedroom apartments. Building Two offers 75 units, with 30 one-bedroom and 45 two-bedroom apartments. The project is shovel-ready, with approvals in place, including a completed land development plan, NPDES permit, and building drawings ready for code review. Adding to its appeal, this property offers significant financial incentives, including a 10-year LERTA providing substantial tax savings and PA Opportunity Zone eligibility for long-term investment benefits. This is an unparalleled opportunity for a developer to bring a fully approved, ready-to-go senior housing community to life in a prime location. Act now to turn this vision into reality and create a lasting impact in a growing market.

Status Change Information

Major Change Timestamp: 2025-01-07T22:29:17Z Major Change Type: New Listing Status Change Timestamp: 2025-01-07

Property Features

Current Financing: None Current Use: Commercial; Vacant; See Remarks Development Status: Site Plan Approved; See Remarks Vegetation: Cleared Builder: Any Builder Showing Requirements: Showing Service
Listing Office: ERA One Source Realty
Last Updated: January - 07 - 2025
Information deemed reliable but not guaranteed.