Major Development Project Announced
July 26, 2017
Keystone College has announced a major development plan which will dramatically improve the quality of life for the college community and for residents of Factoryville, La Plume, and other surrounding municipalities.
The college will develop a new commercial building complex on two parcels of land along College Avenue which currently serves as a parking lot. The complex, located directly across from the college’s signature row of Victorian homes, will enhance the gateway to the campus, which is also being redeveloped thanks to a previously announced PennDOT streetscape grant.
The new development will house commercial tenants, including the region’s first Steak n’ Shake national franchise restaurant; a Dunkin’ Donuts Express coffee shop; the relocation of Keystone’s Follett Campus Shop, and a health and fitness center and a bank, still to be determined.
The businesses will be open to the local community, and Keystone students, faculty, staff. A ground breaking ceremony will be held later this summer after approval of all necessary permits. The complex is expected to open in the spring of 2018. Additional parking will also be developed elsewhere on campus to replace the parking spaces taken by the new development.
“This new building project will be a wonderful addition to our campus and will enhance the college experience for our students by providing some great new dining and fitness options,” said Keystone College President David L. Coppola, Ph.D. “However, we want to emphasize that this project is also meant to serve and benefit our friends and neighbors in Factoryville, La Plume, and other local communities, without whom it would not be possible.”
Funding for the development originates from two sources: A $1 million state Redevelopment Assistance Capital Program (RACP) grant originally designated for the Borough of Factoryville but redirected to Keystone after the original project did not materialize. Project developer T.S.E. Developers, Dunmore, will fund the remaining balance to complete the $3 million project. Keystone will be responsible for monthly lease payments to the developer for 20 years, after which the property title reverts to the college without a mortgage.
“We express our sincere thanks to everyone who has helped make this project become a reality, particularly members of Factoryville Borough Council for contributing their RACP grant funding for the betterment of the entire community,” Dr. Coppola said.
Keystone offers more than 40 undergraduate and graduate degree options in liberal arts and science-based programs in business, communications, education, fine arts, natural science, environmental resource management, geology, and social sciences. Located 15 minutes from Scranton, Pa. and two hours from New York City and Philadelphia, Keystone is known for small class sizes and individual attention focused on student success through internships, research, and community involvement.