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Small Business Restores Luster To A Faded Jewel In Downtown Scranton

With a little vision, two years of renovations and FHLBank Pittsburgh’s Banking On Business (BOB) program, a building long past its heyday in downtown Scranton, PA has been transformed into a chic catering and special events venue called The Colonnade.

Known as the original White House, the property was built in the early 1870s by Austin Blair, heir to the DL&W railroad fortune. The building slowly deteriorated over the years until two enterprising New Yorkers recently purchased the property, with dreams to return the building to its former glory.

Posh Life, LLC opened October 2008 in Scranton, through the efforts of owners Paul Blackledge and Joshua Mast. Both utilized backgrounds in fashion and special events coordination to turn the landmark building into a stylish venue. They will soon open a boutique hotel on the upper floors of the property.

On September 2, The Colonnade hosted local officials and dignitaries including Congressman Paul E. Kanjorski (PA-11), Scranton Mayor Christopher Doherty and FHLBank Pittsburgh President and CEO John Price to celebrate the business opening. The event also marked the $15 million regional milestone of the Banking On Business program. The Colonnade used $150,000 from BOB to meet the minimum equity requirements of traditional small business financing.

“As a native of Scranton, I have long recognized the potential for greatness not only in this beautiful building, but also in this beautiful city,” Mr. Blackledge said.

“Josh and I are grateful that people such as Congressman Kanjorski, Mayor Doherty and our investors have also recognized the potential that we have as a small business, and that Banking On Business is helping take us to the next exciting phase.”

To learn more about The Colonnade and see photos of the renovation as it progressed visit http://www.thecolonnade401.com/joomla/.