(November 9, 2021 – Altoona, PA): The Altoona Blair County Development (ABCD) Corporation shared the news that the Commonwealth of Pennsylvania has awarded four major business and building expansion projects in Blair County with more than $800,000 in State Enterprise Zone (EZP) and Special Priority (SPP) Program tax credits. The EZP program provides state tax credits to businesses or industries investing in or making physical improvements to properties located within designated enterprise zones. The SPP program supports specific priorities of community economic development: disaster or economic recovery, integrating weatherization and housing rehab, mortgage foreclosure prevention, blight elimination, diversity issues, rural issues, and affordable housing.
ABCD Corporation provided technical assistance and support for the following projects:
Family Services Inc. received $63,750 in tax credits through the SPP program to provide 35 shelter beds and create 6 double occupancy affordable housing units that will accommodate income qualified individuals. The paramount problem facing the homeless in Blair County is the lack of shelter beds. While the current Family Shelter (FS) offers 16 beds and serves approximately 180 individuals per year, they still had to turn away 2,107 individuals the previous year. This project promotes community participation & collaboration while producing long term outcomes that assist low-income populations in becoming self-sufficient.
Kavi Partnerships, LLC was awarded $250,000 through the Enterprise Zone Tax Credit Program. The project includes the acquisition and site preparation of 14 parcels along 6th Avenue, in between 7th and 8th Streets in the City of Altoona to construct a new commercial building to house Green Bean Coffee House. In addition to the new location of Green Been (current location is across 6th Avenue), the project will include a state-of-the-art retail complex, which will bring a pedestrian and young professional customer base to the area on a regular basis. Further, it will enhance the neighborhood and represent a turning point in the redevelopment and public opinion of the immediate and surrounding area.
J&G Realty, LP was was awarded $250,000 through the Enterprise Zone Tax Credit program to purchase the Ward warehouse in the City of Altoona and lease over 50,000 sq. ft. of warehousing space to Park Home and Park Security businesses that are affiliated with J&G Realty, LP. In addition, 12,850 sq. ft. of the office space will be renovated and become the corporate headquarters of the Park family businesses. In addition, this project will allow Park to consider plans to move forward on opening additional retail locations in Central PA.
Darbrook Partners, LLC was was awarded $250,000 through the Enterprise Zone Tax Credit program. The project involves the redevelopment of the 4th floor of The Mill facility in the City of Altoona into 13 units of market rate residential living space. There will be five 2-bedroom, six 1-bedroom, and two units with 2-bedrooms and a den. The apartments are being constructed targeting young professionals looking for market rate housing options. The redevelopment of the property into a mixed-use commercial/residential complex began a few years ago and this floor remains the last floor to be repurposed.
“We deeply appreciate both the significant investments being made by our private sector partners and the support and guidance we consistently receive from our regional state economic development partners led by Regional Director Johnna Pro and her team,” said Stephen McKnight, ABCD Corporation President and CEO. “Without each doing what they do and doing it so well, these projects would not be possible.”
