EFTA00301504.pdf

Executive Financial Summary: The Bishop McDevitt Catholic High School in Harrisburg, Pa. will be adapted into: The McDevitt Center This will be the 3 nd school adaptation of the developer, Philip G. Crifasi Jr. 1st- Baynard House, Wilmington, De.; a former public school, PS #30, adapted into condominiums. This was the first public school in the U.S. adapted into condominiums. 2"- Wroxeter-On-Severn; a former private school converted back into a 17,000 sq. ft. waterfront estate on the Severn River near Annapolis, Md. 4111_1." ri 3`d. The historic Bishop McDevitt Catholic School in Harrisburg, Pa. will be adapted into: EFTA00301504  The McDevitt Center . Within the classrooms, a mixed-use complex including: medical offices, state government offices and legal- lobbyist offices with meeting and conference space and local retail. • Managed in-house, the basketball gym, with its 40 ft. tall barrel ceiling, will become a "flex-use" concept by which its floor space will be adapted into a catering hall for weddings, professional events and a dinner theater. New skylights and tall palm trees will be installed to create a unique destination. • Potential restaurants consisting of: Italian, Mexican, Asian and/or a Steak Restaurant; an espresso bar, a bookstore, ice cream and yogurt shop. . A health club-rehab facility . A regional antique center and regional art gallery The Gothic designed 127,000 sq.ft. Catholic high school, with its 70 foot tall EFTA00301505 twin-towers, sits on 8 acres near the top of the highest hill in Harrisburg, Pa. At night, the towers will be illuminated with LED lights which will be visible for 7 miles. After the State Capitol Dome, this building is the 2nd most well- known structure in the region. Many business and civic leaders attended the Bishop McDevitt Catholic high school and it is well-known to all residents of the region. Due to this strong identity, many will visit the former school to explore the new uses within the building. Before rehabilitation even starts, we have both name recognition and identity. After rehabilitation, we will become a destination for many in the region. The building is in excellent condition and is up to code. The building, currently operating as a high school, will be vacated by our settlement date in February, 2013. The Catholic Church is building a new, larger school 3 miles away on a 50 acre campus. The proceeds from the sale of this building pay for, in part, the costs of the new school. Within the next year, we will place the structure on the National Historic Register which will generate approximately $600,000 in Historic Tax Credits. The zoning will change from Educational to Mixed-Use and the City is supportive of this new zoning-variance change since it will create new tax revenue, not previously generated. Pre-leasing will commence within the next 12 months. Also, the school is next to the new National Civil War Museum. This will be the closest mixed-use facility to the Museum and a synergy of events will be promoted between the Museum and the new uses in the former school. For uestions contact Philip G. Crifasi at or • EFTA00301506