Aug 2, 2013 3 min read

WAYNESBURG – The remaining properties in the Waynesburg Crossing retail development in Franklin Township have been sold to Kari Resources LP, a company headed by Gary R. Bowers of Producers Supply in Waynesburg.

Bowers, who could not be reached Friday for comment, purchased the 152.9 acres of land for $1.3 million from Land Holding LLC, according to the deed recorded in the Greene County Register and Recorder’s Office. Land Holding had earlier been assigned the mortgage to the property by PNC Bank.

The sale includes all the property in the retail development except the 46.3 acres owned by Walmart, which opened a store there in March 2009 and has remained the development’s only tenant.

Robbie Matesic, executive director of Greene County Department of Economic Development, said the county was aware the property had been sold.

Matesic said she was glad the site has been purchased by Bowers, who has demonstrated a commitment to the community and does a very good job of maintaining his properties.

“We would very much like to work with him to develop the property in a way that is beneficial to him and to the community,” Matesic said. “It’s an enormously important property, because of its location,” she said.

Waynesburg Crossing,, across Route 21 from the Greene County Airport, was developed by McHolme Waynesburg LLC, which purchased the land from the county in 2003.

The company developed the site and sold one lot to Walmart but failed to find other buyers. Norm McHolme, company principal, later explained that the properties came up for sale just as the retail market and the economy began to collapse.

Much of the infrastructure at the site was developed with public money. Construction of Murtha Drive, the main access road, and improvements to Route 21 were completed with $9.25 million of state and federal grant money.

McHolme also received a $7.5 million loan from the former National City Bank. PNC Bank, successor to National City, later filed a judgment against McHolme claiming the company had defaulted on the mortgage and owed it more than $8.4 million.

PNC foreclosed on the property and purchased the remaining parcels last September at sheriff’s sale for $146,800, an amount representing county property taxes owed on the land, court and sheriff sale costs.

At that sheriff’s sale, Bowers and PNC were the only bidders for the property. Bowers had bid as high as $525,000 for the site, but PNC topped that with a $1 million bid. PNC was not be required to pay the $1 million it bid but only the $146,800 for county taxes and costs because it was the plaintiff in the foreclosure.