Nearly $3 million in loan and grant money from the state was approved Tuesday to help with the redevelopment of the former Tyco Electronics site in Carlisle.
Gov. Tom Wolf announced five new Business in Our Sites project approvals Tuesday and two new Pipeline Investment Program project approvals through the Commonwealth Financing Authority to support redevelopment projects in Pennsylvania.
Included in that package is approval for a $1,142,358 grant and a $1,713,536 loan to the Real Estate Collaborative LLC, a subsidiary of the Cumberland Area Economic Development Corp., to assist with the redevelopment of the former Tyco site.
Real Estate Collaborative has control of not only the Tyco site, but two adjacent lots with frontage on North Hanover Street. Estimates in September have the Tyco site costing at least $2.5 million to develop with about $1.4 million of that related to demolition and remediation costs.
Jonathan Bowser, CEO of CAEDC, said the concept plan for the site includes a 7,500-square-foot brewpub on the lots fronting Hanover Street. The current Tyco building is expected to be demolished to make way for two three-story office buildings with retail businesses on the first floor.
The two sections of the project will be connected by a pedestrian roadway and landscaping.
Bowser said he has been talking to several potential users of the site. Those users will help shape the final design of the site.
“We hope to be able to make some announcements in the spring and summer,” he said.
“The borough has not received any concrete plans for that redevelopment site,” Carlisle Public Works Director Mark Malarich said in late December. “It has not progressed. I don’t expect to see anything next year.”
BOS funds will be used for acquisition, site work, demolition, and storm water management improvements. The total project will cost $3,180,344 and will create approximately 68 jobs.
“Two of the most important components that business look for when they’re considering moving or expanding into another state is if the state has a selection of pad-ready sites to choose from, and if it has the energy infrastructure to power their growth,” Wolf said. “These projects approved today address both of those issues, placing Pennsylvania at a competitive advantage over other states and creating thousands of jobs. This is great news for the six counties in which these projects are located.”
The BOS program empowers communities to attract growing and expanding businesses by helping them build an inventory of ready sites. Approved projects can use the funding for any site development activities that are required to make the site shovel-ready. The sites must be previously utilized property or undeveloped property that is planned and zoned for development.
Bowser said site preparation and demolition for the project is likely to occur later this year, with additional site work and construction coming in 2019.