Keystone Trade Center Project Moves Closer to Fruition
Progress continues on the massive redevelopment of the former U.S. Steel site. On Monday, an attorney for NorthPoint Development told the Falls Township Supervisors that the developer is “excited” to advance construction and, soon, “filling the park with tenants.”
The Supervisors approved an amended final land development plan that enabled NorthPoint to consolidate buildings one and two of the project’s first phase into one building totaling a 1,159,849 square-foot warehousing building, along with a 10,205-square-foot vehicle maintenance garage and a 1,219-square-foot salt storage building.
NorthPoint has three phases in play, consisting of five large warehouse buildings, according to attorney Michael Meginniss. The developer plans to revitalize 1,800 acres of the former U.S. Steel site by constructing 20 or more state-of-the-art industrial warehouse buildings totaling 10 million square feet, with the potential for 15 million square feet. Officials have said that once complete, the redevelopment will create 5,000 to 10,000 new light industrial jobs.
In addition to the modifying the amended final land development plan, the governing body also approved a minor subdivision of 14 acres at 150 Roebling Road. No development is proposed, according to Meginniss.
As part of a developer’s agreement the Supervisors approved in 2020, Supervisors Chairman Jeff Dence said various items such as roads, sidewalks, trees and landscaping would all be addressed toward the end of the multi-year project.
Jeremy Michael, NorthPoint’s director of development, said previously that he hopes to have the first tenant occupying space by year’s end. Michael said he anticipates breaking ground on the buildings for phase two this year, with completion in 2023.
The overall development is expected to continue for another five or six years, according to Michael, with some full-time jobs available this year and more “ramping up” next year.
The developer will invest $1.5 billion into the transformation of the site. In all, NorthPoint will spend an estimated $40 million to $45 million to remediate the site.