READING, Pa. – The Reading Planning Commission voted Tuesday to approve revised plans for an apartment complex at 601 Penn St., a 10-story former office building.
The revised plan incorporates the details of a settlement agreement with the developer.
The settlement agreement is with Dream Ventures PA II LLC, an entity controlled by Brooklyn-based development company Heights Advisors, which is planning to convert the former Santander office building into an apartment building consisting of a mix of efficiencies and one-bedroom and two-bedroom apartments.
The zoning hearing board granted zoning relief in 2023 to allow the project as presented, but Reading City Council later voted to appeal the decision in the Berks County Court of Common Pleas.
City Council strongly disagreed with the original zoning decision that would have allowed 207 apartment units by permitting dimensions much smaller than the city’s zoning ordinance requires.
The settlement agreement that’s in place will allow a maximum of 180 residential apartment units within the second through tenth floors, but the developer has since reduced the number of units to 177.
The project requires 267 off-street parking spaces. The Reading Parking Authority has stated in a letter that it has availability to lease that number of spaces.
City planner Emily Diaz-Melendez told the commission that a site visit was conducted by the planning staff and the city engineer where it was concluded that the biggest concerns previously identified have been addressed.
Planner William Cinfici addressed the work put into the approval.
“This was a major project, and we had some serious concerns,” Cinfici said. “It took us a long time to work through all of this, but I think being deliberate paid off, and we’ve got a plan here that is compliant, and I wish the developer success.”