The owner of the land, Hankin Family Partnership, also of Berwyn, joins Realen in the suit. Hankin acquired the parcel in 1965 for an undisclosed price that, according to published reports was about $25 million.
The zoning board's decision was upheld in two lower court appeals. The landowner and developer charge that the land is being unfairly "held hostage" and charge that "misuse" of the board's authority is causing them economic hardship.
Realen's plan calls for 425,000 sf of retail space, two 300-room hotels, and either a 640-unit multifamily complex or an office complex of approximately 900,000 sf. The plan has been subjected to more than a dozen public hearings over the past 36 years and was rejected in all cases.
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