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With final week’s approval of preliminary and ultimate land improvement for the second section of NorthPoint Growth’s huge Keystone Commerce Heart undertaking, three new warehouses will rise on the roughly 1,800-acre Falls Township property.
Part II of the Keystone Commerce Heart’s improvement contains warehouses 4, 5, and 6, every totaling greater than 1 million sq. ft.
The Falls Township Board of Supervisors accepted the brand new constructions at their assembly final week.
Officers stated the three new buildings will complete 3.1 million sq. ft throughout 188 acres of land near Previous Bordentown Street and South Port Avenue.
The primary two warehouse buildings are up and the third is beneath building, Falls Township Engineer Joseph Jones stated.
The three buildings which might be the primary section of the development might be 1 million sq. ft.
Building on the buildings for the second section are anticipated to start this yr and be completed in 2023.
The supervisors inexperienced lit Part I of the event final yr, which incorporates building of the primary three warehouse buildings. Constructing three is beneath building presently, in response to Falls Township Engineer Joseph Jones.
In a township assertion, Jeremy Michael, NorthPoint’s director of improvement, relayed the primary tenant is about to occupy the primary warehouse area by the tip of 2022.
The developer might be “ramping up” their work subsequent yr, Michael stated within the township assertion.
Officers from NorthPoint Growth, of Kansas Metropolis, have instructed the general public that the Keystone Commerce Heart is designed so as to add as a lot as 15 million sq. ft of latest warehouse area and 5,000 to 10,000 jobs with a complete funding of $1.5 billion over the approaching years. The plan is to develop the “largest e-commerce, logistics, and multi-model industrial undertaking on the East Coast” with room for as many as 20 new buildings constructed on speculative foundation.
NorthPoint Growth purchased the previous U.S. Metal property on the finish of 2020 for $160 million.
All three taxing our bodies for the property – the Bucks County Commissioners, Falls Township, and the Pennsbury Faculty District – agreed in 2020 to permit the positioning to develop into a Keystone Alternative Funding Zone from January 1 and ending on December 31, 2035. The designation will give the developer tax breaks to encourage progress.
Earlier reporting on the undertaking:
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