Reading has announced a pilot grant program aimed at spurring workforce housing development in downtown buildings with vacant or underused upper floors.<\/p>\n
The City of Reading Downtown Housing Development, or COR-DHD, program will offer competitive grants ranging from $25,000 to $100,000 for residential conversion and rehabilitation projects along the 200 through 500 blocks of Penn Street.<\/p>\n
Officials said Reading faces a shortage of about 5,000 housing units, while many downtown upper-floor retail spaces remain vacant or underutilized.<\/p>\n
The grants, they said, are intended to help property owners overcome costly barriers that often prevent the redevelopment of upper-floor spaces into housing units.<\/p>\n
Eligible applicants include for-profit entities, nonprofit organizations and private individuals. Applicants must own the property for which funding is requested.<\/p>\n
Mayor Eddie Moran said the initiative aligns with the city\u2019s efforts to increase downtown housing and reactivate vacant spaces.<\/p>\n
\u201cThis program helps us tackle a real need in our city while bringing new life to underused spaces downtown,\u201d Moran said in a statement. \u201cIt\u2019s about turning vacancies into homes, supporting our property owners, and continuing the momentum on Penn Street and in our downtown.\u201d<\/p>\n
The grants may be used for projects addressing significant non-cosmetic deficiencies, including structural stabilization, major building systems, correction of life-safety hazards and code deficiencies, roofing and drainage systems, heating and cooling infrastructure, and fire protection systems.<\/p>\n
Applications will be accepted through July 3.<\/p>\n