$700,000 State Grant to Revitalize Historic Penn Street Buildings

Pennsylvania is investing $700,000 through the Pennsylvania Housing Finance Agency to transform two long-vacant historic buildings at 418 and 422 Penn Street into a vibrant mixed-use anchor. The $6.5 million project, led by Aston Investment Group, will deliver 12 workforce housing units on the upper floors and approximately 25,000 square feet of commercial space on the ground level. This flexible space is designed to accommodate 11 different suites for various uses, such as retail, cafes and creative studios. By revitalizing these structures, the project aims to stimulate economic growth along Reading’s main commercial corridor while providing high-quality housing for the city’s workforce.