Chester benefits from The Institute for Economic Development

PENNROSE PROPERTIES’ MARK DAMBLY NOW CHAIRMAN OF THE INSTITUTE FOR ECONOMIC DEVELOPMENT

September 2010 – Mark H. Dambly, President of Pennrose Properties, LLC, recently assumed the role as Chairman of the Institute for Economic Development (IED) in Chester, Pa. Dambly took the helm on July 14, 2010 and will remain in the position through December 2011. 

The Institute for Economic Development is a public-private partnership of Chester’s major employers specifically committed to undertaking a targeted mix of innovative economic development programs and activities focused on the physical, economic and social revitalization of the City of Chester. As chairman, Mark will lead the strategic efforts of the IED and ensure that its efforts complement the city’s very aggressive economic development agenda. Several of the major initiatives of the IED include promoting a positive business climate in the city, stabilizing neighborhoods and home ownership in the city with an employer homebuyer’s assistance programs focused on market rate housing, and working collaboratively with the City of Chester on its efforts to improve the visual appearance of its major gateways.  

“I am excited to help continue the work of the IED.  The city of Chester is one of the great stories on the east coast with a tremendous track record of growth in the last few years.  We now enter a new phase of investment and development in the city’s history, and look to building upon a number of recent projects, such as University Crossings -- which includes a 7-11 convenience store, a new branch of TD Bank (the first new bank in Chester in 15 years), and a Best Western Hotel. The continued growth of Crozer-Chester Medical Center, new residential developments at Crozer Hills and Wellington Heights, the growth of Harrah’s Chester Casino and Racetrack into a major regional entertainment center, and the launch of the Philadelphia Union MLS soccer team at PPL Park (to include new access ramps of the Commodore Barry Bridge), make it a truly an exciting time in Chester,” said Dambly.

Pennrose Properties is nationally recognized as one of the region’s premier developers of mixed-use, mixed-income, and multi-family housing. Pennrose develops properties for the purpose of long-term ownership and continues to own and maintain all of the properties it has developed.  Its successes include relationships and partnerships with private sector investors, townships and municipalities, elected officials and community leaders, public housing authorities, and community non-profit organizations. 

In fulfilling his new role as chairman, Mark continues his commitment to the city of Chester and Delaware County as demonstrated through his service to Crozer-Keystone Health System, Penn State Brandywine, and other civic endeavors in the local area.