For Immediate Release
Public Relations Division
Public Affairs Department
1170 Eighth Avenue
Bethlehem, PA 18016-7699
(610) 694-3711 - Phone
(610) 694-1509 - Fax
BETHLEHEM, Pa., December 3, 1996 -- Bethlehem Steel Corporation has retained The Enterprise Development Company to manage the redevelopment of the steelmaker's South Side property here.
The announcement was made this afternoon by Curtis "Hank" Barnette, chairman and chief executive officer of Bethlehem Steel, who said:
"This is a significant major step toward comprehensive redevelopment of the 160 acres of Bethlehem Steel's South Side properties. The Enterprise Development Company will be the Master Developer of this site. We selected Enterprise for a number of reasons, including its interest in urban recovery and what it can contribute to communities in need of revitalization. Enterprise has a record of performance all over the world. We are extremely proud to have this world-renowned firm involved in this important project that will further distinguish the City of Bethlehem as an excellent place to live and work."
The Enterprise Development Company was founded in 1981 by the late James W. Rouse following his retirement as chief executive officer of the Rouse Company, where he created such projects as Boston's Faneuil Hall, Baltimore's Harborplace and the City of Columbia, Maryland.
Enterprise Development is a real estate development and management organization that participates in the creation and management of urban mixed-use projects, office and retail projects, specialty retail and leisure-based centers, entertainment, dining and shopping complexes, and festival marketplaces. The company's activities and interests include the United States, Western and Eastern Europe, Australia, and the Middle and the Far East.
As master developer, Enterprise Development will provide expertise to enable public and private parties to develop the 160 acres between the Fahy and Minsi Trail Bridges.
"In situations where Enterprise's skills are employed, the company has found its people can make a significant difference in terms of the value that is created by developing a property in the best and most imaginative combination of uses that can be built, within the strict economic discipline of the marketplace. We have a long series of successes with urban renewal and redevelopment. This is another exciting challenge for our firm and its people," said Robert F. Barron Jr., president and chief executive officer of The Enterprise Development Company.
Messrs. Barnette and Barron unveiled the property's new name and logo, Bethlehem Works, that symbolizes the traditional use of the property and the new opportunities that await it.
"Steelmaking plants are often called "the steel works". So, it was natural to make the transition from the steel works to Bethlehem Works. It is now time to embark on a new use while preserving some of the historic nature of the site that is integral to the plant's heritage. We believe we have a winning combination in this property, the Enterprise Development Company and the support of the City of Bethlehem," Mr. Barnette said.
Also speaking at today's news conference was Bethlehem Mayor Kenneth R. Smith who noted: "The Enterprise Development Company has innovatively and with community encouragement created properties for new and different uses around the country and the world. The City of Bethlehem pledges its full support to the redevelopment of this property and is pleased that such a prestigious company will be working to improve our economic base and revitalize our South Side".
"Developing this property will be much easier with the mixed-use zoning of the Industrial Redevelopment District that was approved by Bethlehem City Council in April. This zoning allows us to get on with the task at hand much more expeditiously and to return the property to new and productive uses, " said Mr. Barron.
City Council President James A. Delgrosso expressed his satisfaction on behalf of Council stating: "Projects of this magnitude take time, cooperation and foresight. We as a Council are delighted with today's announcement and the promise of economic activity on our South Side."
Mr. Barnette also announced that Stephen G. Donches has been named president of Bethlehem Development Corporation, a subsidiary of Bethlehem Steel, which will be representing the steelmaker in matters related to the project. Mr. Donches who also serves as Bethlehem Steel's vice president of public affairs and his team will be working closely with Enterprise in advancing Bethlehem Works.
During the next few weeks, The Enterprise Development Company will work from Bethlehem Steel's headquarters building, Martin Tower, and will eventually move to the South Side as property development advances.
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