Nanticoke, May 14, 2020 – State Senator John Yudichak (I – Luzerne/Carbon) announced $10,000,000 in funding today for the proposed Crossroads Point Business Park located in Hazle Township from the Department of Community and Economic Development’s (DCED) Business in Our Sites (BOS) Program through the Commonwealth Financing Authority (CFA).
SR424, a special purpose entity of Mericle Commercial Real Estate and the Greater Hazleton Community Area New Development Organization, Inc. (CAN DO) received the funding for Phase I construction of the proposed Crossroads Point Business Park.
Located in Hazle Township on PA Route 424 along Interstate 81 between exits 141 and 143, the site consists of 693-useable acres of mine scarred land, located in a federal opportunity zone being developed by Mericle Commercial Real Estate Services.
The first 197 acres, once completed will house 1,272,500 feet of Class A flex/industrial space. It is anticipated that a total of 522 jobs will be created and a total private investment of $50.9 million is expected.
BOS funds ($4,000,000 grant, $6,000,000 loan) will be used for infrastructure and engineering costs, with the total project cost being $14,061,064.
“Working with the Hazle Township Board of Supervisors, chaired by Jim Montone, we continue to aggressively pursue projects, like Crossroads Point Business Park, that will help us transform our abandon mine lands into economic opportunities for the people of northeastern Pennsylvania,” said State Senator John Yudichak.
“With the leadership of Department of Community Economic and Development Secretary Dennis Davin and the deployment of the Business in Our Sites program, we have leveraged $50 million in private investment that will create more than 500 new jobs in the first phase of this tremendous economic development project in Greater Hazleton.”
Mericle Commercial Real Estate Services is the largest full-service real estate developer in northern Pennsylvania. They have developed over 23 million square feet in NEPA and currently own and maintain over 16 million square feet.
“We very much appreciate the Commonwealth Financing Authority making this important investment in our project in Hazle Township,” said Jim Cummings, Mericle Vice President of Marketing. “This funding will help us develop a business park that meets the highest standards for quality development. We also want to thank Senator John Yudichak, State Representative Tarah Toohil and officials from CAN DO, Hazle Township, the Hazleton Area School District, Luzerne County, as well as Scott Dunkelberger, the state’s former senior advisor to the secretary of DCED, for their steadfast support of all of our economic development projects in the Greater Hazleton area.”
CAN DO, the applicant for the BOS funding is partnering with Mericle on the project.
“Today’s announcement is great news for the Greater Hazleton community. CAN DO fully supports Mericle Commercial Real Estate’s plans to convert mine-scarred land along Route 424, the Greater Hazleton Chamber of Commerce beltway, into an industrial park that will bring new industry and new employment to our community,” said Kevin O’Donnell, CAN DO President and CEO. “Mericle was among the first private developers to invest in CAN DO’s industrial parks and this project is a strong sign of the company’s continued commitment to southern Luzerne County. CAN DO thanks the Commonwealth Finance Authority, Sen. John Yudichak, Rep. Tarah Toohil, Hazle Township, the Hazleton Area School District and Luzerne County for its continued support of economic development in the Greater Hazleton area.”
“Hazle Township is very excited to hear the news that Mericle is getting a $4 million BOS grant and a $6 million BOS loan, and making a $50 million-plus private investment for the proposed Crossroads Point Business Park,” said Jim Montone, Chairman, Hazle Township Supervisors. “From my meetings on this project, we understand it will create over 500 good paying jobs, which is not only great news for the economy of Hazle Township, but for the entire Greater Hazleton area.”
The Business in Our Sites program empowers communities to attract growing and expanding businesses by helping them build an inventory of ready sites.
All site development activities that are required to make a site shovel-ready. The BOS program is for speculative projects only. Funds cannot be used for projects that are primarily residential or recreational. Sites must be previously utilized property or undeveloped property that is planned and zoned for development.