Project Description:

Although this property was once a premier address in Harrisburg, a water main burst during a record-setting cold spell in 1994 forced all of the building's residential and office tenants to vacate this 25-story downtown building. Between mid-1994 and late 1997, the vacant structure loomed over downtown Harrisburg. After other companies' redevelopment efforts failed. Amerimar utilized its ability to understand the complex physical challenges, market opportunities, and political issues associated with this property. In December of 1997, Amerimar acquired the property for $1,045,000 ($3.10 per gross square foot). Immediately after ownership, Amerimar began a $10.0 million renovation project which fully restored and upgraded the 294 residential units and the 55,000 square feet of office space. The property is now known as one of the city's premier residential and office addresses.

Property Website:

www.paplace.com