ROYERSFORD – A redevelopment project along the Schuylkill River has received a million dollar state grant, the office of State Representative Joe Ciresi, D-146th District said.
Riverfront funding to Royersford LLC was provided as part of the Capital Redevelopment Assistance Program. This will help realize the plans for the Riverfront at Royersford LLC, a mixed-use development that will include living, dining and entertainment venues, and retail opportunities.
“I am very proud to have been able to secure this million dollar redevelopment grant which will help bring social life and economic opportunity back to this part of the Schuylkill Riverfront,” Ciresi said in a press release. . “This state grant will help transform what were once brownfields into a vital economic, leisure and residential center for the 146th arrondissement. The Riverfront in Royersford will pioneer mixed-use development in Southeastern Pennsylvania, while expanding amenities and opportunities for all area residents.
“We are extremely grateful to Representative Ciresi for his unwavering advocacy for this project and to the Borough Council, the Mayor and staff for being excellent public partners in this process,” said Richard Lewis, President and Head of management of The Lewis Group. “This team has proven time and time again their commitment to the continued revitalization of Royersford through collaboration and careful action to reduce barriers to redevelopment.
“We also especially thank Governor Wolf for recognizing the value of this investment in Royersford and we look forward to making this vision a reality. “
The project will prepare the property for vertical development through land acquisition, demolition, site preparation, landscaping, stormwater management, private water and sewer infrastructure, electric lighting and site, roads and site access, and paving. Plans for the project show a mix of uses, including: 188 residential units, 25,000 square feet of entertainment space and restaurant / bar, 29,447 square feet of retail space and 35,000 square feet of retail space. common outdoor area. The inauguration of the project is scheduled for summer 2022.
The Riverfront at Royersford LLC received $ 330,000 to build a trail along the Schuylkill River by the Commonwealth Funding Authority through the Multimodal Transportation Fund program in November. The trail will be part of a proposed network that includes sidewalks connecting the Township of Limerick, downtown Royersford and Spring City, and the Schuylkill River Trail.
The Redevelopment Assistance Capital Program is a grant program administered by the Budget Office for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects.
RACP projects are permitted under the Redevelopment Assistance section of a capital budget breakdown law, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenue, or employment. other measures of economic activity. The Riverfront at Royersford LLC project is estimated to create 280 temporary construction jobs, 105 permanent jobs, and recurring state and local tax and royalty revenues of more than $ 770,000 per year.