Developers have formally unveiled their plans for one of the now-vacant buildings in the former Reading Outlet Center complex.
The $14.2 million project includes a complete renovation of the 120,000-square-foot building to include 69 residential units and 40,000 square feet of space for commercial use, including adult and child daycare, a medical outreach clinic and a farmers market.
Pennsylvania Gov. Tom Corbett announced on April 17 the completion of a $5.5 million "new markets tax credit" that will help fund the project, the latest in the outlet neighborhood to be undertaken by Shuman Development since 2006.
"This neighborhood really has a commercial heart now," said Alan Shuman, president, Shuman Development Group. "It's got hundreds of jobs out there, you know, walk-to jobs, all the things a real urban core needs for the neighborhood to start rebuilding itself."
The Big Mill, abandoned in 2003, is the second largest building in the former Reading Outlet Center complex.
Development of the center's other buildings has already been completed or is underway, including a proposed $36 million redevelopment of the center's Building 1.