New York lawyer Richard Fischbein and partner Michael Perrucci joined with developers Jeff Gural, Barry Gosin and James Kuhn to buy the former Bethlehem Steel Works. The group intends to redevelop the 162-acre site as a mixed-use community.

The real estate partnership negotiated for a year for purchase of Bethlehem from International Steel Group, which assumed control over Bethlehem in May of 2003.