23 Sep National Velodrome Gains Site Approval in Suburban Philadelphia
Coatesville, PA September 21, 2020. The National Velodrome took a major step forward when the Redevelopment Authority of Coatesville voted to sell a 24 acre site in the center of the city to Impact Development Group (IDG), developers of the National Sports and Events Center where the world class indoor velodrome will be housed.
“This decision by the RDA will have major impact on the City’s redevelopment and revitalization plans,” said Crosby Wood, owner of New Heritage Properties in Coatesville, Chair of Second Century Alliance and a partner in IDG. “Not only will the NSEC provide a much needed sports and special events center for Coatesville residents, it will bring thousands of new visitors to our city. Having the National Velodrome here with its national and international events is the icing on the cake.”
According to IDG’s plan for the site, the NSEC will include 210,000 square feet of indoor sports, special events and meeting space. The main attraction will be a 2,500 seat arena to house the permanent velodrome for cycling competition, youth programs and many other public events such as concerts, special shows and tournaments for a variety of other sports events. Estimated cost to complete the facility is between $40 and $50 million with an anticipated opening in late 2022 or early 2023.
A major factor in the RDA’s decision to approve the sale to IDG is IDG’s partnership with Sports Facilities Management (SFA) and the network of over 20 sports facilities it manages around the United States. In addition to overall management of NSEC, the company has extensive experience in developing and financing such facilities “from concept to concrete.”
No less important is the fact that Coatesville is designated as a Qualified Opportunity Zone, the only location in affluent Chester County that provides special tax incentives for investors who wish to support local revitalization. Another IDG partner, Activated Capital and its managing director, Josh Burrell, specializes in Opportunity Zone investments and is already developing supporting nearby projects in Coatesville in anticipation of the pending Flats decision.
But for the principals of World Cycling Limited, Dave Chauner and Rick Mayer, the world class National Velodrome gives a giant and timely boost to their vision of creating an exciting new reality for cycling in America. The National Velodrome will be the world headquarters for their innovative TeamTrak international racing league and for the Velodrome Development Foundation, a non-profit organization dedicated to promoting cycling for youth and adults, amateur competitors, disabled athletes and aspiring international champions.
“As COVID-19 subsides, all sports and special events are predicted to come back strongly,” said Chauner, CEO of World Cycling Limited and partner in IDG. “Plus cycling is riding the wave of the unprecedented boom in bicycle sales during the pandemic. The timing for Coatesville’s decision couldn’t be better.”
About Coatesville: Coatesville, Pennsylvania is a city centrally located within Chester County, a population of 500,00 residents, located just 35 miles west of Philadelphia and within easy access by rail and car of New York City, New Jersey and Washington, DC population centers. Chester County, a region known for bustling small towns surrounded by bucolic countryside and legendary horse farms. Coatesville itself is best known for its hard working industrial heritage and diverse population that has produced artists, writers and outstanding pro baseball, basketball and football stars.