By Brian Pedersen, clinic Lehigh Valley Business
Posted Oct 27, healing 2016
A $5.9 million loan for the development of a mixed-use business park in Monroe County is expected to expedite site preparation for the more than $100 million project.
The investment is part of $23 million in low-interest loans the Commonwealth Financing Authority awarded to five new Business in Our Sites projects, for sale announced Gov. Tom Wolf.
The Monroe County Industrial Development Authority received the loan on behalf of developer James DePetris, CEO of Legend Properties Commercial Real Estate of Plymouth Meeting. DePetris said he will build Smithfield Gateway, a project on Route 209 in Smithfield Township expected to create more than 1,000 jobs.
DePetris, who developed Dick’s Sporting Goods in Bartonsville, also in Monroe County, sees the region as one primed for growth.