Our City Reading, Inc. has announced its collaboration with Mayor Morán and City officials on the redevelopment of 450 Penn Street, a key building in downtown Reading. Located at the prominent intersection of 5th and Penn Streets, this 120,000-square-foot structure serves as a cornerstone for the city’s downtown area.
Plans for the redevelopment include retail spaces at street level, with office and residential units on the upper floors, all aimed at driving economic growth, job creation, and enhancing the vibrancy of the neighborhood. The redevelopment is designed with flexibility in mind, and both the City of Reading and Our City Reading are actively inviting community interest to ensure the project aligns with the needs of the community.
Work on the redevelopment is expected to begin in 2026, positioning the site for improved access to a range of downtown amenities including restaurants, retail stores, entertainment venues, and the potential for future passenger rail service.
The redevelopment comes at a time of significant momentum for the City of Reading, supported by positive changes such as the newly announced City Revitalization and Improvement Zone (CRIZ) and the anticipated development of passenger rail service. The timing of this project is ideally suited to capitalize on these exciting developments, further advancing Reading’s revitalization.
Jim Boscov, Chairman of Our City Reading, expressed his enthusiasm for the project: “We are proud to partner with Mayor Moran and City officials to support the continued revitalization of downtown Reading. This redevelopment project reflects Our City Reading, Inc.’s mission and our ongoing commitment to contributing to the positive changes taking place in the city.”
Mayor Eddie Moran of the City of Reading commented, “This redevelopment project is an exciting opportunity for our community. By revitalizing this important building, we’re improving the downtown area and creating new economic opportunities for residents and businesses alike. I’m thrilled to see this project moving forward and look forward to the positive impact it will have on our city’s future.
