Abraham Lincoln Tower

Reading,
PA
(2017)

Abraham Lincoln Tower

Business Development, Community, FQHCs, Healthcare, Housing, Infrastructure, Mixed-use, Retail, Retail and Commercial, Transportation and Ports

Lincoln Hotel Logs New Life, Thanks to NMTC

Investment

NMTC Amount: $5,820,000
Total Project Cost: $6,466,244

IMPACT

35 FTE jobs
25 construction jobs
Project includes a Federally Qualified Health Center.

CDEs

Community First Fund

Investor

Unknown

Voices from the Community

What does the New Markets Tax Credit mean to your community?

“I think the community is better for it. Obviously, the tax credits are a key piece.”

-Christian Leinbach, Chairman, Berks County Commission, Pennsylvania

Project Description

Finance rehab and construciton of historical hotel and parking garage for residential and commercial uses located in multiple condominium units. Extensive renovation of the former, historic Abraham Lincoln Hotel located in downtown Reading. The Lincoln Towers revitalization project is transforming the old hotel into a vibrant, mixed-use complex that contains 98 affordable-rate apartments, 10 retail spaces and an adjacent 310-spot parking garage.

MAP

Address: 100 North Fifth Street, Reading, PA 19601

Census Tract: 42011000100

Other Pennsylvania Projects

East Liberty Transit Center

Pittsburgh,
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(2014)

Infrastructure, Retail, Transit Oriented Development, Transportation and Ports

CDE(s): Commonwealth Cornerstone Group, Pittsburgh Urban Initiatives, PNC

A multi-agency effort, which includes the City of Pittsburgh, Port Authority of Allegheny County and East Liberty Development Corporation, to assemble and redevelop six acres of blighted or obsolete commercial

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Lewistown,
PA
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FQHCs

CDE(s): Commonwealth Cornerstone Group, USBCDE

New healthcare facility helps address medical needs in Mifflin and Juniata counties

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Community

CDE(s): PIDC Community Capital

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New Castle Mixed-use (2021)

New Castle,
PA
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Mixed-use, Mixed-use and Commercial

CDE(s): WesBanco

In the first of two revitalization projects (read about the other project), Wesbanco used NMTC financing to help a borrower purchase and renovate a vacant commercial building at 101 Mercer