State Grants Funds for Revitalization

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READING, PA-Five projects here have received kick-start funding of almost $13.3 million from the state. In addition to creating at least 2,800 new jobs, Gov. Ed Rendell says the funding will “trigger economic growth” and bring “one of our historic and treasured cities back to prominence.”

The largest award, $5 million from the Redevelopment Assistance Capital Program, is for construction of a four-story, 200-room hotel that will connect with Sovereign Center, the 7,083-seat multi-purpose civic arena that opened here in 2001. The hotel is designed to contain a 12,000-sf ballroom, 7,000 sf of pre-function space and 9,000 sf of breakout rooms. The estimated total construction cost is $47 million.