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Originally Posted by Butternut
I wonder if they've raised enough capital -- or at least have begun -- to start on the old micky ds and gannon lots after npr and the kitty-corner projects?
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The EDDC recently received $40M from a Boston-based investment capital group. I assume that is mainly designated for new construction in the NPR block (that chunk where the old Greyhound bus station is and in back along West 5th St). But I have no real idea about how the monies will be used and if any current funding is earmarked for the new construction on the block to the north. I'm sure it depends on how much more $ they can lure in with the Opportunity Zone incentives, and how much Erie Insurance, Erie Community Foundation, UPMC, Gannon, etc. are going to kick in. And considering that the second wealthiest person in Pennsylvania is involved... well, let's just say there are very deep pockets.
While it's very encouraging to see Erie Insurance leading this whole effort, the fact that it's taken this long for a Fortune 500 company to show real interest in shoring up and improving the crumbling environment surrounding them is an indictment directly on their leadership.
Quote:
Originally Posted by photoLith
^
Wow that's freakin great for downtown Erie.
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Yeah, it's really cool to see. Especially considering the fact that the existing 1820s-1870s buildings are being preserved/renovated in a high-quality manner. The development in these blocks really ties into the numerous historical renovations of the mansions on West 6th St ("Millionaires Row").
There's still even talk of a light rail trolley running up and down State St thru this area... one can only dream...