New Castle, PA (2021)

New Castle Mixed-use

Investment

NMTC Amount: 450,000

Total Project Cost: 3,487,593

IMPACT

44 FTE jobs

8 construction jobs

CDEs

Project Description

The borrower purchased commercial property at 101 Mercer Street, New Castle, PA. Previous to this purchase, the building had been completely vacant since March of 2018, when it lost its anchor tenant, the Department of Vital Statistics. Since their purchase, the borrowre has made many improvements and has landed the a major anchor tenant. The borrower has taken a dark building in downtown New Castle and is turning it into a developing commercial space which now houses 7 entities with 44 employees. The building is approximately 30% occupied. The top 2 floors are in need of renovation in order to be rentable; renovations are still underway.

MAP

101 South Mercer Street, New Castle, PA 16101

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