State invests in Lawrence, Mercer projects

Developers will begin building a new apartment complex in Sharon in September.

STAFF REPORT

SHARON, Pa. — The state is investing money in community improvements, businesses and bridge repairs with an overall goal of creating jobs, said Gov. Ed Rendell as he began a bus tour to distribute money.

Rendell began a two-day, 16-stop bus tour that included visits in Mercer and Lawrence counties Monday.

The idea behind the state investment, he said, is to make improvements that encourage private investment. He said that overall, $642 million in state spending in 25 counties will leverage more than $1.3 billion in private and local investments to keep nearly 30,000 people working.

In Sharon, he announced a $3 million grant toward a $32 million project that will include $9.5 million worth of projects at Penn State Shenango campus, revitalization in the downtown area and a new complex called The Lofts.

The Lofts will house retail establishments, offices and 50 apartments. Shenango Avenue Associates, LLC, will break ground for the $12 million building on Pitt Street in September.

Greg Koledin, of Shenango Avenue Associates, said that including the $3 million award the governor announced Monday, The Lofts will be built with $4 million total in state investment and $8 million in private investment.

“With the funding we received today, we’ll be able to move forward,” he said.

The project will also include a pedestrian bridge linking downtown to the Penn State campus, improving streetscapes downtown, reconfiguring traffic to reroute trucks away from the city and improving a parking garage near the Lofts development.

“Sharon is receiving this money because they’ve come up with a good plan to redevelop the heart and soul of one of America’s great cities,” Rendell said.

The governor also announced a grant of $1.25 million for Hermitage to establish a Tech Innovation and Development Center that will embrace entrepreneurship, encourage innovation and technology development and support efforts between private enterprise and regional educational providers.

In New Castle, Rendell said the state will invest $22 million in Lawrence County to leverage $34 million in private and local funding and keep nearly 1,000 residents working.

He announced the availability of $7.2 million in state funds for the revitalization of downtown and the Cascade Riverplex development.

Six bridges in Lawrence County and 13 in Mercer County will be fixed under an accelerated repair program, Rendell said. He said the state is allowing $466 million in new funds for 411 bridges under the program.