The Quakertown Council is seeking to hire an economic development consultant to assist in its plan to sell the downtown Triangle property as a part of a plan to invest in downtown economic development.
The move is expected to bring 60 to 70 new jobs to the borough, according to officials.
At a work session meeting Monday, the board discussed its plan to develop the 30,000 - 40,000-square-foot building that seeks to attract an influx of new business to the region.
According to borough Manager Scott McElree, the first floor of the building is expected to be utilized by a food retail business, potentially a coffee shop, while the remaining three floors will be used to create office space for the majority of the newly minted positions for Quakertown residents.
Negotiations with a developer are currently underway, but due to a confidentiality agreement, council members were unable to disclose the identity of the other parties involved.
McElree maintained that transparency was important though and that more information was forthcoming.
“We should be able to discuss [the developer] soon,” he said.
The plans however have yet to be finalized.
“It’s not a done deal yet,” said council president James Roberts Jr. “We’re marching along, we’re stating what we want to do as a borough.”
He cautioned that several steps remain to be taken, such as getting an appraisal on the property, all of which may alter the route of negotiations.
“We’re buying into a concept [but] we ain't there yet.”