19 Apr Velodrome Moves Closer To Reality In Chester County, PA
COATESVILLE, PA— The sale of Coatesville’s largest parcel (26.3 acres) known as the Flats was approved by a resolution on Monday, April 12, 2021 during a City Council meeting. After carefully vetting proposals, conducting public meetings, project reviews and negotiations, Coatesville’s Redevelopment Authority (RDA) recommended the sale of its largest commercial property in the City’s Qualified Opportunity Zone to IDG Development LLC, a Coatesville-based company comprising a joint venture between New Heritage Properties and Activated Capital. City Council approved the sale in a 6 to 1 vote of its members.
IDG’s plan calls for development of a $50-million National Sports and Events Center, a multi-use sports and special events facility. The NSEC will feature a world-class indoor velodrome that will both serve regional needs and become an international center for cycling.
“We have worked hard to assemble a dynamic team to develop and manage the NSEC that will drive opportunity and prosperity for the City of Coatesville for generations to come,” says Crosby Wood, Principal, New Heritage Properties.
The Velodrome Development Foundation, a 501(c)(3) has pledged its support of the project by launching a $5 million Capital Campaign to attract philanthropic investments from regional non-profit organizations as well as from its national network of influential cycling organizations and youth sports development advocates. Greg LeMond, three time winner of the Tour de France, is the Foundation’s Honorary Chair.
“The velodrome enhances our mission to enrich lives and positively change communities through world-class cycling and youth development programs that serve young people, including persons with disabilities, college athletes and aspiring international and Olympic and Paralympic competitors. We look forward to helping make this a huge success for the community and the nation,” says Stephen Whisnant, Foundation President.