Reading seeks proposals for redevelopment of downtown buildings

READING, Pa. - Reading city officials are seeking proposals to redevelop five downtown properties the city purchased last year.

The buildings, two of which sit on the northwest corner of 5th and Penn streets in center city, are well positioned to serve as anchors for downtown revitalization, the city said Tuesday.

Both structures -- an older high-rise office building and a former bank building -- underwent major system upgrades in 2013 and nearly $10 million in improvements and renovations in the 1980s, according to the city. 

The three adjacent properties front Penn Street.

The city said it wants to work with a developer to undertake a combination of demolition, rehabilitation and new construction in order to market the properties for uses that will contribute to the revitalization of Penn Street.

The deadline for redevelopment proposals to be submitted to the city is April 10. The proposals will then be reviewed by a committee of city agency representatives and individuals with knowledge and expertise relevant to the properties or similar projects, officials said.

"The review committee will help ensure that the city takes advantage of the best opportunities to develop these properties for reuses that will support the downtown area and benefit the city as a whole," said Mayor Vaughn Spencer, D-Reading.

Reading used $2.5 million in federal money to acquire the buildings in August. They are located within the area that the Pennsylvania Department of Community and Economic Development has designated a "Main Street" program.

This Week's Circulars

Berks Area News

Latest From The Newsroom