Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Bank Rejects Bid for Former Longview Driving Range Property

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Bank Rejects Bid for Former Longview Driving Range Property

Article excerpt

First Commonwealth Bank of Indiana, Pa., has rejected a bid to buy the former Longview Driving Range site adjacent to Wal-Mart in North Versailles.

Al Wagner, North Versailles code enforcement officer and community development specialist, said John Katz, the principal partner in Brandywine Real Estate, submitted the highest bid - $50,000 - for the parcel and some other properties in a Feb. 26 bank sale.

On Monday, Mr. Katz said his bid was rejected by the bank. Mr. Wagner said the previous owner, the late David Lichtenstein, had paid $350,000 for the site.

Mr. Wagner said Mr. Lichtenstein abandoned a plan to develop the property after using about $3 million in tax-increment financing to grade the site. Mr. Wagner said Mr. Lichtenstein was the principal partner of One Hundred Ltd. of North Versailles, the company that planned to build housing on the site. …

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