Lance J. Nelson, Managing Partner of the law firm of MacElree Harvey, has become Chair of the West Chester Business Improvement District.

"In the past few years the BID has helped the Borough of West Chester to become one of the vital business centers in southeastern Pennsylvania," Nelson said. "I'm honored to have a chance to participate as chair in this great business organization."

"Downtown West Chester is entering a New Economy where we will eventually see five new office buildings, two new parking structures, 60 restaurants and 450 businesses. All of this will, over a five-year period, represent a 4 percent annual growth rate for downtown," said Malcolm Johnstone, Executive Director of BID.

Joining Nelson as officers of BID for 2004 are Fred Gusz, Vice Chair; P. Timothy Phelps, Secretary; and A. Roy Smith, Treasurer. Patrick Comerford is the immediate past Chair.

2004, according to Nelson, was vital for West Chester and BID as the organization continued to act as the economic development agency to implement strategies to maintain the economic equilibrium necessary for a healthy downtown West Chester.

In Johnstone's January report to the BID Board of Directors, he said property market values had increased from $66 (per square foot) in 2002 to $114 in 2003, a 75 percent increase. In 1999, the property market value was $41 per square foot. Also, he reported, by November, the vacancy rate for available retail space effectively dropped to zero.

The BID has effectively positioned itself as a clearing-house for business expansion information, according to Johnstone, with the BID providing business start-up or expansion information to 92 new prospects in 2003. A total of 226 prospects have been served since 2001.

In 2003, downtown West Chester was recognized by Philadelphia Magazine as the Best New Shopping District.