The Herald, Sharon, PA Published Wednesday, March 27, 2002

HERMITAGE

Major development plans may be null
§   §   §
Co. option to buy land expired last month, Kraynak says

By Michael Roknick
Herald Business Editor

A huge Hermitage retail development project that was reportedly in the works may not be.

For months National Realty & Development Corp. had a major development project for Hermitage posted on its Internet site. The Purchase, N.Y., development company said on its site it was working on a 472,327-square foot project that included at least two "big box" retail tenants along with other smaller retail stores. No names of potential tenants for the location were given on the Internet site.

The location is on vacant land along North Hermitage Road next to Stupka, Buick, Pontiac, GMC. Owned by the Kraynak family, the location has been the focus of development rumors in recent years.

George Kraynak, a family member, said this morning that NRDC's Internet site was an old one and that the company's option to buy the land expired in February. While he wasn't sure if the company was interested in renewing the option, as of today he said no one has an option on the land.

A NRDC manager who had oversight of the Hermitage project was on vacation this week and wasn't immediately available for comment, a company spokeswoman said this morning.

Still, NRDC's site gives a detailed view of what the developer had in mind. Aerial photographs show the location of the proposed project and also show where competing retailers are located, such as Wal-Mart, Kmart and Lowe's.

Also given on the site are demographic breakdowns of the area, showing household income, population by age and trends.

A diagram of the development shows it would have a large parking lot fronting North Hermitage Road with some parking area facing Dutch Lane. A major retailer would be housed on the south side of the main structure with smaller stores in the middle with another large retailer on the north side. A separate building on the southern end of the property shows it would house smaller anchor tenants.

Hermitage officials have insisted that no developer has presented the city with any proposed plans for a development at the location.

"There have been inquiries from local engineering firms about the availability, about capacity in the sanitary sewer system if that property would be developed,'' said Gary Hinkson, Hermitage city manager. "There have been inquiries about our regulations and zoning requirements and those types of things. But there has been no submission to the city of anything regarding that site.''

On its Web site NRDC described itself as a 40-year-old development and management company which has scores of properties, mainly on the East Coast, with more than 13 million square feet under roof.


On the Internet: www.nrdc.com



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