Pennsylvania economic development officials recently announced $460,000 in state funding for a Newville, Pa., mixed-use project. A group of buildings in downtown Newville will be transformed, inside and out, to create new homes and business space.
The Cumberland County Redevelopment Authority will use the $460,000 grant to develop the upper floors of the Farmer’s National Bank building, as well as two adjoining buildings, in downtown Newville.
The project will involve redeveloping the upper two floors of all three buildings to create a total of 11 new apartments. In addition, 3-T Investors, the project developers, will create new storefronts on the first floors of the buildings. The total project cost is estimated to be $1.7 million.
Since January 2003, Cumberland County has received over $114 million in state funding. These investments have helped lower the county’s unemployment rate from 4.2 percent to 3.0 percent.
The $30 million housing and redevelopment assistance program allocates grants for community revitalization and economic development activities at the local level. The program assists the community in becoming competitive for business retention, expansion and attraction. There have been over 318 community revitalization projects approved through the program since January 2003.
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