State Rep. Mary Jo Daley (D-Montgomery) sent out a press release today regarding a Redevelopment Assistance Capital Program grant totaling $1 million that is being provided to O’Neill Properties Group to help redevelop a former brownfield site in Conshohocken into office space. The property is the Four Millennium site, which was approved for an office building and parking garage along the river.
Daley said the grant will assist in paying for the construction of a 300,000-square-foot office building along the Schuylkill River. The project is expected to generate thousands of medical, technological and education jobs for the commonwealth within the next three years. During the approval process, the building was touted unofficially as the future home of AmerisourceBergen. No announcement has been made to confirm this.
“These jobs will keep Pennsylvania competitive, and will also give our young people an incentive either to stay in our area or return home once they finish college,” Daley said. “I’m happy this project converts land that has been only marginally useful into improved, state-of-the-art business space that could provide a positive economic impact to our community.”
The RACP grant program is administered by the Governor’s Office of the Budget to foster economic, cultural, civic and historical projects with significant potential for improving economic growth and new jobs.