West Chester, Pa (November 21, 2022) – A new office and retail building that will bring investment and jobs to the City of Coatesville will receive $1 million in state funding, state Rep. Dan Williams and state Senator Carolyn Comitta announced today.
The funds, awarded through the Redevelopment Assistance Capital Program, will support the construction of a four-story, 3,200-square-foot office building featuring first-floor retail space at the corner of 3rd Avenue and Lincoln Highway in the city’s downtown.
“This location represents a prime opportunity for revitalization,” said Comitta. “With the new train station under construction and this and several other major investments in the city’s downtown, Coatesville’s future as a destination for employers, businesses, visitors, and families is growing brighter and brighter. I want to thank Rep. Williams and all the partners working to make this happen, including the Chester County Industrial Development Authority, the Coatesville Redevelopment Authority, and Coatesville City Council.”
“Proudfoot has already proven themselves as a strong partner in Coatesville’s revitalization with the building at 190 West Lincoln Highway,” Williams said. “I’m excited about this project at 3rd and Lincoln Highway – centrally located and only a couple blocks away from our soon-to-be new train station. I’m proud to help bring state funding in for efforts like this and will continue to work with Senator Comitta to promote further revitalization of Coatesville.”
Proudfoot Investments has a successful track record in Coatesville, having developed a 30,000-square-foot innovation center and office space for early-stage companies at 190 W. Lincoln Highway. That project, formerly the site of a Lukens Steel Building, was developed as Chester County’s first Qualified Opportunity Zone (QOZ) and represented the first major commercial construction in the city in decades. The building is already 90 percent leased to several tech and early-stage companies.
The building planned for 300 East Lincoln Highway is located just a few blocks from the site of the new train station. It has an 8,000-square-foot footprint and plans also call for at least 65 parking spaces on site.
The Redevelopment Assistance Capital Program is a state grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. To receive funding, projects must have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity.