Jon Jahanshahi, Senior Vice President, Acquisitions and Development with FamVest, a Muncy resident.ĭetailing projects that the development group has done in the county, including those in Montoursville, Loyalsock Township and in Williamsport, where they are currently involved in developing a property on Maynard Street opposite Penn College, Kervandjian said, Kervandjian, who is from State College, was joined at the meeting by M.
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“We worked with many local and state constituents, including our county commissioners here today to gain support with some necessary financing, and how to work together to revive once again, what was the vibrant economic engine of our community here,” he said.
During that year, Kervandjian said that the developers have spent time ” becoming familiar with the tenancy history and condition of the mall.” Over a year ago, FamVest had entered a purchase and sale agreement with the current owner of the failing commercial property. “For the record, FamVest’s purchase of the Lycoming Mall does not now, before or anytime the future include any plans to populate the existing buildings with undocumented immigrants and neither do we have any agreements or discuss with the United States INS for any new buildings to be built as part of the redevelopment of the Lycoming Mall property,” Kervandjian said. In an effort to allay some fears and concerns raised by a local Patriot group at last week’s meeting, Kervandjian stated unequivocally that the property would not be used to house illegal immigrants. And if all goes well today, hopefully we’ll close by this time next week as the new owners of the former Lycoming Mall.” But today I can commit that we’re moving forward. Speaking before a standing room only crowd prior to the commissioners voting to approve the $5 million loan the county has committed towards the mall’s $15 million purchase price, Kervandjian said, “We had many ups and downs throughout the year and yes, including some delays in closing, some of which dealt with the necessary commitments the current owners had made that needed to be achieved before we could purchase the property.
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