Greater Berks P3 Project: RiverView at Reading & Multi-Use Development Opportunities
The Greater Berks P3 Project is a transformative initiative in Reading, featuring the RiverView at Reading, a $2.8 billion private mixed-use development across 110 acres. This project includes 3,500 residential units, alongside 875,000 sq ft of office and bioscience spaces, and 750,000 sq ft of retail space. It will also incorporate a recreational park, a sports complex, a casino hotel, and a waterfront promenade. Coupled with significant public infrastructure improvements, including rail extensions and utility upgrades, the project creates a robust urban redevelopment framework with a total investment potential of $9 billion.
Greater Berks P3 Project: RiverView at Reading & Multi-Use Development Opportunities
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Presentation Transcript
The Greater Berks P3 Project - RiverView At Reading & Related Industrial/Commercial Private Real Estate Developments + Public Infrastructure Opportunities • RiverView At Reading - $2.8 Billion • Private Mixed Use Real Estate Development • Project Totaling Over 110 Acres of Urban • Downtown Property. • 3,500 Rental, Condo, & CCRC Residential Units • 875,000 Square Feet of Office & Bioscience • 750,000 Square Feet of Retail Space • Recreational Park & Sports Complex • Casino Hotel & Waterfront Promenade • RACC Master Plan & Academic Facilities • - $440 Million • Redesign Master Plan of Reading Area Community College Using New RiverView Planned Residential/ Traditional Neighborhood Development Zoning (PRD), Provide Much Needed New Academic Facilities to RACC & Phase II – 700,000 SF to RiverView Bioscience Research Center • Berks Urban Core Redevelopment (BUCR) - $2.5 Billion • Municipal Public Private Partnership Consisting of 20 Transportation Improvement Projects That Make 5 Private Real Estate Development Sites Totaling Over 450 Acres of Urban Property Feasible. • R6 Railway Extension & Mixed Use Transit Oriented Development (TOD) at Stations - $1.2 Billion + cost of TOD at various stations. • 16 Mile Extension of SEPTA Passenger Rail To Philly. Tier 4 Local High-Speed Rail Service • “Reading Railroad” Monopoly Game Identity
The Greater Berks P3 Project - RiverView At Reading & Related Industrial/Commercial Private Real Estate Developments + Public Infrastructure Opportunities • Penn Street Trolley - $26 Million • Trolley Loop Through Main Reading & • West Reading CBD, Providing Connection of • RiverView Project to R6 Rail Station & Local • Businesses • Hydroelectric Plants - $34 Million • 2 MW Hydroelectric Dam At Downstream End • of Project For Flood Control, Raised Water Level • for Recreational Boating, and Pedestrian, Trolley, • Rail Crossing • 8.7 MW Run-Of-River Hydroelectric Dam Sister • Plant at Federally Designated Hydropower • Opportunity Location (Former Klapperthal Hydroelectric Dam Site) • Sewage Treatment & Power Plants – $2 Billion • Fritz Island - Upgrade of Reading Sewer Plant and new Waste-to-Energy municipal solid waste plant to replace soon to be filled to capacity County Landfill. Adaptive reuse of landfill part of BUCR Project. • Replacement of Existing Titus Power Plant for Wholesale Power to RiverView, Berks Urban Core Redevelopment Project, and Power Grid, Using Natural Gas and Clean Coal Combustion Technology(IGCC). • TOTAL ALL OPPORTUNITIES $9 Billion
