State Rep. Mary Jo Daley, D-Montgomery, announced last week the approval of two Redevelopment Assistance Capital Program grants for projects in Conshohocken, which falls within the 148th Legislative District.
AmerisourceBergen Corp. and River Crossing Elm LP have been approved for a total of $10 million in Redevelopment Assistance Capital Program grants administered by the Pennsylvania Office of the Budget. The program is funded to help generate employment, tax revenues and other forms of economic activity.
The two grants are connected to the same redevelopment project, SORA West. Once completed, SORA West will be the home of a 429,000 square-foot corporate headquarters for AmerisourceBergen, a hotel, a restaurant within a rehabbed historic firehouse, a parking garage and a public square.
River Crossing, which is the LP used by the developer Keystone Property Group, will receive $2 million to help create SORA West.
The AmerisourceBergen grant involves new construction, tenant improvements, equipment and furnishing of the facility.
“These projects not only serve to improve downtown Conshohocken by bringing new restaurants, stores, a hotel and more than 1,500 new parking spaces, they keeps jobs and economic stability in our community,” Daley said. (sic for the whole quote)
“We would like to express our gratitude to Gov. Wolf, Sen. Hughes, Rep. Daley, and Commissioners Arkoosh and Lawrence, as well as the Montgomery County RDA and the Borough of Conshohocken, for this generous grant,” said Bill Glazer, CEO of Keystone Property Group. “SORA West represents a transformational project for Conshohocken, and this funding and the Commonwealth’s partnership will be vital as the project moves forward. We look forward to continued support in the years to come as we endeavor to bring our vision of a dynamic, mixed-use, transit-oriented downtown to life.”