In July, BerksIDA’s newest industrial park, Berks Park 183, was awarded Business in Our Sites $2.8 million in grant funding from the Commonwealth Financing Authority as well as $4.2 million in favorable debt financing. This newest tranche of funding will be used to finish site work on the three remaining lots at the park.
A former WWII military base, the site adjacent to the Reading Airport sat vacant for many years before BerksIDA took on the project. Once complete, the site will accommodate up to 816,000 square feet of light to medium industrial space on a 55- acre campus, creating new opportunities for business recruitment and job creation in the Reading area.
State Senator Judy Schwank was instrumental in securing the funding. “It’s great to see Berks County continue to take advantage of state resources and take on big revitalization projects,” she said.
In addition to the state investment, 35 acres of the site has been acquired by SunCap Property Group at a value of over $40 million. SunCap is a privately held, national commercial real estate development, investment and advisory firm, specializing in development of build-to-suit facilities for large corporate clients. They plan to build a last-mile distribution warehouse that will create nearly 200 jobs.
BerksIDA stands ready to develop our next site. Contact us about projects in your community.