MOUNT VERNON, N.Y. – Tony Lau, the owner of 260 Gramatam Ave., has not been able to sell or develop the property since a fire destroyed the six-business strip mall in 2004. He now has some hope that the property can be developed, lohud.com reported.
Lau’s statement came about because of a nearby fire that destroyed unrelated property at 212-226 Gramatan Ave.
Mayor Ernest Davis told City Hall officials that his administration would help the business owners and property owner find state or federal loans so they could rebuild. Tony Petruolo is the property owner; he has not yet commented on any plans. Lau sees that the two sets of property could be developed together, perhaps as high-rise businesses.
Lau’s efforts to rebuild had been stalled by the recession and, he said, the city’s parking requirements. The cause of the fire was not suspicious.
Fire officials have not yet determined the cause of the fire that destroyed Petruolo’s property.
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