Stan Luongo, and his partner, Bob DiSerafino, Sr., met in 1950 at the Arthur A. Shaw Company as staff accountants. Within a few years, Mr. Shaw expanded his offices and asked Bob and Stan to become partners with him in Shaw’s West Chester and Wilmington offices, respectively. By 1958, Stan and Bob sold their interests and formed their own company, Robley & Company, in Paoli. They continued their relationship and when their rented building was for sale, they decided to purchase it.
Vision Becomes Reality
Bob and Stan had a vision. They were true entrepreneurs. They saw an opportunity to create a town center in Paoli. But, with two growing families, they needed an additional partner. After speaking with some of their clients about investing with them, John Connus enthusiastically accepted the offer.
Their goal was simple. Build it and they will come. The trio purchased the original parcels, then began building the “Paoli Village Shoppes” – a name coined by their real estate agent. Bob and Stan conducted most business meetings with tenants in their offices located within the center and “signed” leases with a handshake. They were always there – ready to solve any issues their tenants had- while operating their own successful accounting firm.
A few years down the road, they sold the majority of the accounting business and operated on a smaller scale while still managing the center. At this time, they focused their attention to acquiring additional real estate in the Paoli Village Shoppes area.
Time To Expand
In the late 1980’s, Bob and Stan sold the majority of the accounting business. At that time, Stan and Bob formed DiSerafino and Luongo, Public Accountants. During this time, they focused on acquiring additional real estate in the Paoli Village Shoppes area. In 1988, they purchased the land and built the former Coldwell Banker building (presently Verizon Wireless.) In 2002, they built the HomeCooked building and in 2010 they purchased the former Citadel building (presently Nudy’s Café).
Their Father’s Footsteps
This latest acquisition was spear-headed by the Next Generation of Paoli Village Shoppes. As their fathers before them, the Management Team continues to place customers, and tenants, first, by providing a conscientiously managed, well-maintained, center which has served the Paoli Community for over fifty years.
Paoli Village Shoppes has been a neighborhood landmark for decades. When Stan’s partner passed away in 2003, the team decided that it was time for a new beginning. Plans unfolded for a revitalization of the center. By 2007, the $3 Million Dollar renovation was complete and new tenants were acquired.
Not only did “The Next Generation” have physical changes on their mind, they wanted to further solidify the original vision of their fathers. Rob, Judy, Stan, Jr. and Ron focused on three primary goals which enabled Paoli Village Shoppes to achieve their ultimate goal to become the “Heart of Paoli”:
- Transform Paoli Village Shoppes, with both the new façade and upgraded tenant mix, into a place that residents, as well as commuters, would want to eat, shop and work.
- To be the leader in a revitalization of all of Paoli.
- To be the center of the community in dining and shopping, as well as in community events.
Keeping the Tradition Alive 50 Years Later
Today, 50 years after opening the center for lease, Paoli Village Shoppes is considered the “Heart of Paoli” with 15 retail spaces and 23 office spaces. We boast a 92% occupancy rate with the majority of our tenants beginning and retiring from their careers with us.
Fifty years is a milestone. It is an occasion to celebrate – an opportunity to look back at the history that these great men – Bob, Stan and John – created. “The Next Generation” – Rob, Judy, Stan, Jr. and Ron continues their fathers’ legacy by focusing on their objective of being the “Heart of Paoli.” With the same “hands-on” approach that their fathers had, “The Next Generation” looks forward to celebrating these 50 years with Tenant and Customer Appreciation Days and also numerous charitable contributions.
We hope that everyone will come to the best-kept secret on the Main Line – Paoli Village Shoppes.