York's Central Business District gets $12M revitalization project

Downtown York got another big revitalization boost Wednesday afternoon when the Community First Fund and Royal Square Development announced a $12 million project that will renovate several West Market Street buildings just west of Continental Square for restaurants, retail space and apartments

Included is the former F.W. Woolworth department store at 44-50 W. Market St., which has been empty for many years. The others include 25-27 W. Market St., which housed Zakie's nightclub; 54 W. Market St., home of the Police Heritage Museum; and 56-58 W. Market St., which was Weinbrom Jewelers.

Plans for the Central Business District properties include at least two restaurants, 12 retail spaces and 36 market-rate apartments, said Royal Square President Josh Hankey.

Following the announcement in front of the old Woolworth's, Hankey said interior renovations will begin on the properties in the near future, with façade work beginning in the spring. All of the buildings will be ready for occupation in 2016, he said.

Hankey said Royal Square already has letters of intent from restaurants that would occupy the first floors of the former Zakie's and Weinbrom locations and serve as "anchors" for the neighborhood. Each of the two spaces is 3,000 square feet, he said.

In addition, Timeline Arcade, based in Hanover, has already signed a lease for the 7,400-square-foot museum building, Hankey said. The business features classic and "vintage" arcade games, he noted. Also under consideration is a tasting room belonging to a local brewery and a variety of specialty stores such as a men's clothing boutique, he said.

State Rep. Kevin Schreiber (D-York), who served as the city's director of economic and community development for eight years before his election to the House of Representatives, said the city acquired the 15,000-square-foot Woolworth's building in the late 1990s.

"This building has seen hundreds of tours by prospective buyers, so to finally see it put to use is huge," Schreiber said. He said the building's renovation will entail dividing it into smaller retail spaces. "There's actually a waiting list to get into it, so there's definitely a demand."

The project will be funded in part by a $8.25 million allocation from the $30 million Community First Fund has received in New Markets Tax Credits, officials said. The federal funding is intended to stimulate growth and create jobs in low-income and impoverished communities.

Community First Fund is an economic development organization that provides loan capital to real estate developers and businesses in southcentral Pennsylvania.

Source: Central Penn Business Journal