Upscale Steak And Seafood Restaurant Coming To Coatesville

COATESVILLE, PA — The historic National Bank of Coatesville building on Lincoln Highway was sold Tuesday for $600,000 to a Coatesville developer who plans to renovate the building for an upscale steak and seafood Restaurant.

Plans are underway for the bank building at East Lincoln Highway and First Avenue to serve as the home of 30 Prime, a new steak and seafood restaurant is will be managed Phil Ferro.

An experienced chef and entrepreneur, Ferro is also the owner of the Chadds Ford Tavern and recently transformed the former Mr. E’s Tavern into Kings Tavern in Coatesville.

The property at 112 E. Lincoln Highway was owned by DEPG Development, based in Conshohocken. The historic 5400-square-foot building was constructed in the early 1900s.

Michael DePetris, representing DEPG Development, sought a developer and tenant for the property with ties to the community.

DePetris connected Crosby Wood, principal of New Heritage Properties, Coatesville, with Ferro, then brokered the sale.

“New Heritage shares DEPG’s vision of transforming properties into projects that will benefit the residents of Coatesville,” Wood said. “We appreciated working with their team and Phil Ferro to bring this deal to fruition, and we look forward to the next steps of the building’s renovation and transformation into an upscale restaurant.”

The sale of the building is part of the Coatesville Gateway project to revitalize the city of Coatesville, a 1.83-square-mile city founded in 1915.

“As the plan gained traction, we were confident that the sale of this portion of the Coatesville Gateway Project would benefit the city and ignite renewed development interest in Coatesville’s Gateway,” said Jim DePetris, managing partner, DEPG Development.

“Our team is excited to see the momentum occurring in the downtown region, and we are committed to maintaining an active role in the revitalization of Coatesville.”

DEPG seeks other tenants for space available at the City’s Gateway, where they have completed all site work and surfaced parking lots.

DEPG is also nearing completion of another revitalization phase of Coatesville Gateway at the Cultural Society building, at the heart of Coatesville’s Historic District at 143 East Lincoln Highway.