Sen. Larry Farnese (D-Philadelphia) recently announced that multiple projects in his district received $21,882,000 in state redevelopment grant funds through the Redevelopment Assistance Capital Program (RACP).
The RACP distributes grants to projects across the state that relate to the acquisition and construction of regional, cultural, civic, recreational, and historical improvements.
“These grants contribute greatly to the continued growth and improvements in our city,” Farnese said. “These projects are all very different, but they all work towards making the many aspects of our city accessible, well maintained, and a destination for both work and fun. Furthermore, the projects will create and sustain many jobs that will help the city’s economy thrive”.
The grants include $4,000,000 for the Kimmel Center, Inc. for the Merriam Theater-Kimmel Center Phase 1 improvements as well as $3,000,000 for Industrial Metals Manufacturing, LLC for the historic renovation of Building 57 in the Navy Yard, which the U.S. Navy, contractors, and subcontractors will use for the design and construction of submarines. The grants will also include $2,000,000 for Barracks Holding, LLC to create a 230+ full-service hotel in the currently vacant Navy Yard Barracks, and $2,000,000 for the 1801 Vine Street Development Partners LP for the renovation of the former Family Court Building into a hotel and preservation of public spaces to access the historical aspects and art of the building, among other awards.