COATESVILLE, Pa., Dec. 5, 2009 - Coatesville's ongoing revitalization will be strengthened by the construction of a new hotel and office tower, Governor Edward G. Rendell said today while helping to break ground for the $36 million project.

The Governor said the project, supported by a $10.5 million state investment, will create more than 800 new jobs.

"Projects like this one do not happen by chance. You need the right location, the right proposal, and the right people working together to get it done," Governor Rendell said. "This major investment in Coatesville, at the 'front door' of the city's downtown, will be a catalyst for future downtown development, creating a ripple effect that will benefit the entire area."

Coatesville officials are planning to bring housing, retailers, restaurants and cultural attractions to the city.

Once the revitalization is complete, Coatesville will be able to showcase a transit-oriented district, with streetscape improvements along 3(rd) Avenue directly into the train station, bus service and restoration of the station, a restaurant row, a grocery store at the intersection of Business Route 30 and Route 82, upscale condominiums in the central business district, a complete cultural arts program with an artists' colony, and increased and improved parking.

The 22-acre project, at the intersection of routes 30 and 82, will be home to an 80,000-square-foot, four-story commercial office building; and a 125-room, four-story, full-service Courtyard by Marriot hotel with meeting rooms, a fitness center, indoor pool and a business center. Construction is scheduled to start in the second quarter of 2010 and require nearly 500 construction jobs.

The Governor said the commonwealth has invested $10.5 million in the $36 million project. The state's support includes a $5.75 million Redevelopment Assistance Capital Program grant, a $1.25 million grant from the Industrial Development Program, and a $3.5 million loan from the Business in Our Sites program.

When construction is complete, the finished hotel and office tower will employ about 330 people.

"This investment will generate a lot of jobs in Coatesville and that is welcome, positive news for the region," Governor Rendell said.
The Governor cited a Delaware Valley Regional Planning Commission estimate that Coatesville will be home to about 3,100 jobs in 2010, and said that means this investment will account for more than 10 percent of all the jobs in Coatesville.

For more information on economic development initiatives in Pennsylvania, visit www.NewPA.com or call 1-866-466-3972.