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Hill View purchase receives initial OK


Published: Thu, September 29, 2005 @ 12:00 a.m.


The commissioners rejected the company's bid for an additional 22 acres.
By VIRGINIA ROSS
VINDICATOR CORRESPONDENT
SLIPPERY ROCK, Pa. -- The retail development manager for Triko Enterprises Inc. said that time will tell whether his client's purchase of Hill View Manor is a worthwhile investment.
Doug German of Howard Hanna Commercial told the Lawrence County commissioners, at their weekly public meeting, that Helen Triko of Triko Enterprises "has every intention" to develop the Shenango Township property.
Site analysis
But Triko must first have a site analysis done of the three-story building and the 13.8 acres to determine the best course of action to take, he added.
At that meeting, which was Tuesday night at the Plain Grove Township Building here, commissioners approved a sales agreement between the county and Triko.
Commissioners noted, however, that the sale is not final until the closing. When the sale is completed, the property will go back onto the county's tax rolls.
Triko Enterprises, which is based in Allegheny County, has developed several properties and converted several sites, including old school buildings in Coraopolis, into apartment complexes.
Bid accepted
At an auction Saturday, commissioners accepted Triko's bid of $190,000 for the building and the nearly 14 acres, saying the bid amount fell in line with appraisals of the property they obtained, and falls within a price range previously established.
But commissioners rejected Triko's offer of nearly $140,000 for the remaining 22 acres at the site, saying that amount was too low based on appraisals, which have remained private. The remaining 22 acres is still for sale.
Also, Triko's purchase does not include a cemetery at the site or an access to the cemetery, which the county will retain.
"From a distance it looks like an incredible purchase and a bargain," German said. "But the building is in deplorable condition." He added that Triko likely will have to make a hefty investment to either raze the building or renovate it.
Two big problems
He said the roof has deteriorated and a large amount of asbestos has been identified.
The county has tried unsuccessfully in the past to sell Hill View Manor. The home closed early last year after its residency continued to decline.
The building's contents also were auctioned Saturday, but the commissioners said they do not yet know how much money was generated from those items.


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