Developer’s student abodes honor history

WILKES-BARRE -- Bill Henry lives in Bucks County, but he’s committed to improving the appearance of Wilkes-Barre.

He’s found a way to do it: He’s focusing his efforts on creating off-campus housing for college students.

In the last five years, he’s invested more than $2 million into old buildings and anticipates spending another $1 million in 2008. He remodels the interiors while retaining the historic integrity of the buildings’ exteriors.

Henry, 52, became acquainted with the area when his daughter began attending Wilkes University in 2001.

“When I visited Wilkes-Barre, I found off-campus student housing to be deplorable,” he said. “I’m a real-estate developer and investor and I decided I would try to improve what I saw.”

Henry has transformed 10 buildings – most of them on the Wilkes campus and one near the King’s College campus. So far, 125 students rent from him.

“Once I purchase a building, it’s gutted and I totally update it for safety, which includes all new electric wiring, plumbing and heating,” Henry said. “Then going one step further, we add 24-hour central station smoke and fire systems, lighted exit signs and total outside dusk-to-dawn lighting and 24-hour surveillance cameras.”

The first building Henry purchased cost $20,000; he invested an additional $300,000 to renovate it.

“They have to have historic significance,” Henry said. “Wilkes-Barre is a college town with a lot of run-down buildings. By buying them and renovating them, the city and the campus are improved.”

When prospective students and parents come to the city to evaluate the campus, attractive off-campus housing is a plus, he said. He interviews all prospective renters.

One of Henry’s buildings -- at 132 S. Franklin St. -- is named in honor of Shelley Pearce, director of the Wilkes conservatory and chairwoman of the Cultural Council of Luzerne County. Henry said Pearce has been instrumental in identifying potential properties for him to buy and develop.

“When he first mentioned it (naming the building after her) to me, I didn’t even know if he was serious,” Pearce said. “Then he called and told me and the next day as I was walking downtown, I saw the sign and I thought, hey, this is really quite an honor. I paused and thought it’s nice to be appreciated.”

Pearce, who has been leading a charge to develop a cultural center downtown, lives near the Wilkes campus.

“When I met him he told me he wanted to establish quality student housing on campus,” Pearce said. “He seemed like a decent guy who wanted to make some money and go about it in a respectable way. He cares.”

Pearce said Henry is accessible and if problems arise, he jumps into his car and drives to Wilkes-Barre. As far as being an absentee landlord, Pearce said she is convinced Henry has a sincere concern for the city.

“So often, people who live outside the city are the ones who see great potential for the city,” Pearce said.

Henry has other visions for Wilkes-Barre: He would convert the downtown into an outlet center. Businesses such as restaurants, hotels and bus companies would benefit greatly from a project like that. Henry has developed shopping malls and office complexes and is a primary developer for Walgreen’s.

Mayor Tom Leighton said Henry’s work is appreciated and he is willing to discuss any of Henry’s ideas.