Home Care In Plymouth Meeting, PA

A bear that had been spotted multiple times near the Plymouth Meeting Mall Thursday in Montgomery County was captured and released on Friday.

PLYMOUTH TOWNSHIP, Pennsylvania (WPVI) -- A bear that had been spotted multiple times near the Plymouth Meeting Mall Thursday in Montgomery County was captured and released on Friday.

The Pennsylvania Game Commission shared new video of the bear being released back into the wild.

On Thursday, police were advising residents to be aware after the black bear was spotted running through several communities in Montgomery County.

"Bear on the loose I thought, 'Oh my goodness.' I wonder how did a bear get here," said resident Gerry Rosato. "In all my 84 years, I never saw a bear in my yard or the geographical area, so it's scary."

The bear was seen at about 4 a.m. Thursday running through the parking lot of the Plymouth Meeting Mall near the Edge Fitness and Whole Foods Market. It then ran toward the Pennsylvania Turnpike.

It was also caught on video at Saint Helena School in Blue Bell, Montgomery County.

The bear was then spotted again at about 1:30 p.m. Thursday near the Plymouth Meeting Mall.

At one point, the animal was caught on camera taking a dip in a pond in Plymouth Meeting.

"It found a nice cool place on a warm day and took a swim," Rosato said.

The Pennsylvania Game Commission was notified of the sightings and began searching for the bear.

Police said if you encounter a bear, try to remain calm while moving away and avoiding any sudden movements or talking. Avoid turning around and running, or attempting to climb a tree. Running may prompt the bear to give chase, police said.

In Plymouth Meeting, residents said the bear has been an unexpected disruption in their day.

"Black bear in the neighborhood? Oh my gosh," said resident Pam Baird.

"[I] was at the Acme. My son called me and said 'there's a bear on the property. When you go home pull up next to the door, get out of the car and don't take any groceries with you,' so I followed his instructions. Got in the house and stayed there," Rosato said.

In light of the bear running through their usually quiet neighborhood, people took precautions.

"We probably won't put our trash cans out tonight. Tomorrow's pickup so we'll just be a little more careful," said Baird.

"I'm keeping the pets inside. No dogs out. The cat's out, but the cat can take care of himself. He can run up the tree," added Rosato.

PLYMOUTH MEETING, PA — The parent company of the Plymouth Meeting, Willow Grove Park, and other area malls may struggle to continue operating within the next year, according to recent financial statements from the Pennsylvania Real Estate Investment Trust.

PREIT has about $1.1 billion in debt payments due Dec. 10 that it cannot afford, according to its filing submitted Tuesday to the U.S. Securities and Exchange Commission (SEC). The Philadelphia-based corporation owns 18 mall properties.

The company filed for Chapter 11 bankruptcy protection in November 2020, when COVID-19 upended the mall industry amid an already changing retail landscape. Although PREIT emerged from bankruptcy protection one month later, it may need to file for bankruptcy again with the debt-payment deadline looming, according to the SEC filing.

PREIT says it's working with lenders to evaluate restructuring options. But it's uncertain whether the company will reach an agreement in time to sustain a longterm future.

"Given the risks associated with the Company's near-term debt maturities in December 2023 and January 2024, and its ability to implement a successful Restructuring, we believe there is substantial doubt about the Company's ability to continue to operate as a going concern within one year after the date the consolidated financial statements are issued," the SEC filing says.

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The report reflects finances through Sept. 30.

PREIT doesn't expect any service interruptions during restructuring negotiations or during any potential transactions. But if the company cannot restructure in a timely manner, it may not have the funds to support daily operations, the filing says.

It's difficult to anticipate what this could mean for the future of PREIT's malls.

A PREIT spokesperson told Patch the following via email:

"PREIT's earnings release mentions our ongoing discussions with lenders regarding a potential restructuring. We understand this could lead to speculation and while we aren’t at liberty to share any additional details than that which has been disclosed to this point, we can state that our discussions with our lenders are in furtherance of a strong and sustainable PREIT.

PREIT is an integral part of the local community, not only as a significant employer but also as a committed investor in the development of the communities it operates in and we, along with our lenders, are committed to advancing this legacy."

PREIT's assets in the region also include the Springfield Mall, New Jersey's Moorestown and Cherry Hill Malls, and the Fashion District Philadelphia.

EASTERN PA — The owner of several major Philadelphia area malls has filed for bankruptcy protection for the second time in three years.

The Pennsylvania Real Estate Investment Trust (Preit), owner of the Fashion District in Philadelphia, Willow Grove Park, Plymouth Meeting, and Springfield malls in the suburbs, and Cherry Hill and Moorestown malls in South Jersey, filed a Chapter 11 petition Sunday.

The weekend marked the deadline for the trust to pay back about $1.1 billion in debt. But though the deadline passed, the bankruptcy filing will allow shopping centers to continue operations without interruption during a coming restructuring process, official ssaid.

"We look forward to quickly emerging from this process as a financially stronger company with the resources and support to continue creating diverse, multi-use property experiences throughout our portfolio," CEO Joseph F. Coradino said in a statement.

Preit's assets include 18 malls all told, mostly in the Mid-Atlantic. With the debt maturity looming, the company expressed doubts last month that it could repay the debt or continue operating within the next year, according to financial disclosures.

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Despite the financial turmoil, Preit has expressed confidence in its local assets. Cherry Hill Mall has long been its top performer, while executives have touted the redevelopment of Plymouth Meeting and Moorestown malls as company bright spots.

Willow Grove Park, meanwhile, has seen massive investment in recent months, including the opening of a massive indoor amusement park and grounbreaking on an adjacent apartment complex.

Under Preit's proposed re-organization plan, announced Monday, the corporation will reduce its debt by $880 million. Preit will no longer be publicly traded and will pay its stockholders $10 million.The agreement also extends the corporation's maturity runway, providing Preit with a five-year window to repay the loans.

Preit's existing lenders unanimously agreed to the proposal, which is subject to approval from the federal bankruptcy court in Delaware. The investment trust plans to emerge from bankruptcy by early February.

Preit will pay all of its employees, suppliers and vendors during bankruptcy proceedings.Founded in 1960, the Philadelphia-based company steadily built up a portfolio of shopping centers. In 2003, Preit acquired six malls from The Rouse Company, including those in Cherry Hill and Moorestown.

Preit thrived in the mid-2000s and peaked at $721.50 per share in July 2005. But its stock values cratered during the Great Recession and totaled $42.75 per share in early 2009. The company rebuilt some of that value, reaching about $350 per share in 2016. But thereafter, stock values steadily declined, with the pandemic dealing the final blow before Preit filed for bankruptcy in November 2020.

Although Preit emerged from bankruptcy protection one month later, the company has financially struggled since. Last summer, shareholders voted for seven trustees to leave their positions.

The company closed last week at 24 cents per share.

According to court documents, Preit hopes to amend plans for bonuses, employee retention, and the contracts of Coradino and CFO Mario C. Ventresca Jr. The changes would impact people directly employed by Preit, rather than employees of retailers and businesses in its malls, a company spokesperson told Patch.

With reporting from Patch correspondent Josh Bakan

Medical Optometry America or MOA, the first national optometric brand focused exclusively on medical, non-surgical eye care, recently opened its newest eye health center in Plymouth Meeting. The new center will be led by Medical Director Dr. Patrick McManamon and is located at 633 West Germantown Pike, Suite 100A. The new center is co-located with the Shafer Vision institute, a premier cataract, LASIK, cornea, and glaucoma surgical specialty practice.

Like other MOA Eye Health Centers, MOA’s Plymouth Meeting location offers a full suite of state-of-the-art technology for the diagnosis and treatment of all medical eye conditions, which enables MOA to elevate the eye care continuum and offer world-class care in local communities.

MOA doctors specialize in identifying, diagnosing, and treating medical eye diseases and conditions including, but not limited to:– Dry Eye Disease – Glaucoma– Diabetic Eye Care– Macular Degeneration– Co-management of Cataract Surgery– Emergency Eye Care

Patrick McManamon, OD brings nearly a decade of experience in high-level clinical excellence to his new role with MOA. While he specializes in dry eye disease and contact lens treatments, he also brings a broad knowledge base to the treatment of glaucoma, dry eye, macular degeneration, diabetic eye disease, cataracts, eye emergencies, surgical co-management and more.

Most recently, Dr. McManamon served as the Director of Dry Eye and Specialty Contact Lenses at one of the largest ophthalmology practices in southeastern Pennsylvania. He played a lead role in managing pre and post-operative care for complex corneal and refractive surgery patients. Dr. McManamon also focuses on teaching and training the next generation of optometrists and has held various positions at Salus University, such as Clinical Instructor, Residency Supervisor, and Lecturer for the Advanced Studies in Anterior Segment.

“Leading this new MOA center offers me the opportunity to pursue my passion for high-quality medical eye care with a personal touch,” said Dr. McManamon. “I am eager to provide our patients access to the cutting-edge testing and treatment options offered by the MOA model that will help them optimize their eye health now and in the future.”

Dr. McManamon graduated from Salus University where he also completed his residency in cornea and contact lenses. He is a member of the American Optometric Association, American Academy of Optometry and the Pennsylvania Optometric Association.

Throughout his career, Dr. McManamon has contributed to advancing the understanding and treatment of eye diseases and conditions by authoring numerous peer-reviewed publications and lecturing on a regional on national level.

“As part of MOA, Dr. McManamon will serve as a strong resource for medical eye care services as part of the healthcare ecosystem in the Plymouth Meeting area and beyond,” said MOA Chief Medical Officer, Dr. Jim Thimons, FAAO. “He has forged great co-management relationships with ODs and MDs and is active in educating and inspiring the next generation of eye care professionals. He is the perfect addition to the MOA team.”

Under the leadership of Dr. McManamon, MOA – Plymouth Meeting will be MOA’s fourth eye health center. Additional centers are located in Horsham, Newtown Square and Shrewsbury, PA.

“With the opening of our most recent center, we are focused on strategically accelerating our growth through mergers and acquisitions of other practices,” said MOA CEO, Ken Krieg. “Our all-medical model and continued expansion is attracting eye care professionals at all stages of their career who are looking to partner with us to focus more on medical eye care or as they near retirement age.”

Photo – MOA. From Left to Right – Katherine Bandish, Plymouth Township Council Member; Dr. Brian Shafer of Shafer Vision Institute; Dr. Patrick McManamon, Medical Director MOA – Plymouth Meeting; PA State Senator Maria Collett; MOA CEO Ken Krieg; Lynne Viscio, Plymouth Township Council and Nora Buck, Montgomery County Office of Senior Services

Plymouth Township has scheduled a town hall meeting to discuss the future of the Plymouth Meeting Mall property for Wednesday, October 25th at 7:00 p.m. at the Greater Plymouth Community Center.

The meeting is likely to focus on apartments, as there are currently two efforts to bring apartments to the property. Keystone Development + Investment is seeking to convert the office building adjacent to the mall into 150 apartments. Plymouth Township’s council amended the township’s zoning code for the shopping center zoning district to permit the conversion of an existing building with up to 150 apartments as a conditional use. The township’s council is now in a series of hearings to determine whether to grant that conditional use.

PREIT, which owns the majority of the mall property, is also seeking to develop an apartment community in the spot that is currently home to the long vacant IKEA headquarters (near the movie theater). PREIT seeks to demolish the vacant building, not convert it, thus it does not fall within the same process as the apartments proposed by Keystone.

Since PREIT seeks to construct a new building consisting of 300 units, it is seeking a special exception from the township’s zoning hearing board. The hearings are also underway and the next one is scheduled for October 16th.

PREIT went through the exact same process for a 502 unit apartment building previously and was denied. PREIT appealed the denial and that issue is currently working it way through the court system.

PREIT has also moved away from trying to fill the mall with retail shops. It currently has just over 300,000 square feet of space within the interior of the mall being offered as The Interchange at Plymouth Meeting. The Interchange is being marketed as office and medical space. You can view more details here.

PREIT is also in a precarious financial situation. It has and is seeking to sell off the outer portions of its mall properties for redevelopment as apartments to bring to bring in cash to pay down debt. You can read more about that here.

Other items it is important to note when discussing the mall:

The mall property is more than just PREIT. If you want to improve the entrances and exits and the flow of traffic, multiple property owners may have to agree.

There is also the issue of infrastructure and whether the sewer line and roadways can handle the impact of the different types of proposed uses. In the hearings that we have attended and/or watched, these are the big concerns from the township and members of the zoning board.