On December 16, 2005, 1201 Airport Road, L.P. purchased 1201 Airport Road, Coatesville, PA located in Chester County. 

The property is situated on Airport Road in Coatesville, PA at the Chester County Airport exit of the Route 30 By-Pass and is located in West Caln Township.  The property consists of approximately 95 acres and is Zoned R-1.  There are no structures on the property.  The zoning when we purchased the land allowed for 3.5 residential units to the acre.  The Township has adopted a new Comprehensive Plan and has designated this property for high density residential, which would allow 6 units per acre.  Our intention is to take the entire 95 acres and construct 332 Townhouses.

The property is in a good area where residential growth has been strong.   It is an area for first time homebuyers that commute to their work locations.  While housing has slowed, businesses are still locating and expanding in the area. The quality of life benefits in this location appear to be desired over the dense surrounding communities.  This site is located within five miles of the Penguin Industries, Inc. headquarters.

Penguin Real Estate Investors, LP