©2006 The Chestnut Hill Local

Winston Commons gets $50,000 restoration grant
by JENNIFER KATZ

Last week film crews from the Home and Garden Television Network (HGTV) visited the renovation team at Winston Commons after the project was awarded a $50,000 grant from the network and the National Trust for Historic Preservation through HGTV’s Restore America initiative. The network will feature the site on both its online outlet and television channel throughout the year.

This is the fourth year for the multimillion-dollar grant program, which will provide financial support to an additional 10 reinvestment projects in 10 other states totaling $625,000.

Last October, work began on the $4 million mixed-use development at Winston Commons, in the 6600 block of Germantown Avenue. The plan includes creating 15,000 square feet of commercial and residential space in the historic buildings. The first floor will be dedicated to retail outlets and six residential condominiums will make up the upper levels.

Community development organization Mt. Airy USA purchased the property for $250,000 in 2002, two years after the death of its previous owner, Dr. William H. Winston. The renovated complex was named after the Mt. Airy resident and internist who had acquired the buildings with the plan to renovate.

“We thought it was an important building to acquire because we saw it as the second phase to the Phebe Commons project,” explained Farah Jimenez, executive director of Mt. Airy USA. (Phebe Commons is the retail and office complex at Germantown Avenue and Phil Ellena Street.)

The Restore America grant is the last piece needed to complete a financing puzzle, which includes at least 12 other funding sources — among them, a more than $1 million capital grant from Gov. Rendell. Jimenez said that just over $2 million was raised from grants and the other $2 million was in private donations.

“The reality is that this is the type of project that could not be done by a private developer,” Jimenez said. “At the time this project began, there really wasn’t the type of vibrant retail or office market on that part of Germantown Avenue, so the difference between what it would cost to rehab the buildings and what one could get for rent was significant. It was necessary to have different equity sources.”

Jimenez said the renovation would be complete at the end of September. The one- and two-bedroom residential units are being sold for $180,000 to $290,000. All of the units have deposits on them, Jimenez said.

Contact staff writer Jennifer Katz at 215-248-8804 or jenn@chestnuthilllocal.com.