Lansdale Borough Council recently approved the sale of the old Performing Arts Center to Flourtown-based M-E-H Investments for $310,000, according to a staff report from WNPV.

“It doesn’t come close to recouping what the borough has invested. We invested millions in that property,” said Council President Denton Burnell. He added that while the borough will not be able to recover the invested funds, this proposal ensures the property will help stimulate further economic development in the area.

M-E-H Investments has proposed commercial development on the ground floor of the building, with the upper floor reserved for residential use. The new development will also preserve the façade of the historic building.

“It will be in private-sector hands and, hopefully, will be done much faster, and don’t take this the wrong way, anyone, but much faster than if we had tried to put this together as a local government,” commented borough Mayor Andy Szekely.

M-E-H Investments has a 30-day due diligence period to perform a thorough inspection of the property before closing the deal.

Read more about the sale at WNPV by clicking here.