Credit: Tom Sofield/LevittownNow.com
The development of the Keystone Trade Center continues to push forward.
At the Falls Township Board of Supervisors meeting earlier this week, the elected body voted unanimously to subdivide two parcels of the property. The roughly 1,600 acres of land will be sliced into 10 industrial lots.
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Attorney Michael Meginniss, of Begley, Carlin, and Mandio, who was representing Northpoint Development, said the company is creating new parcels, but there are no development plans for the subdivided sites at this time.
NorthPoint Development bought the massive former U.S. Steel property at the end of last year for $160 million for the roughly 1,800 acres. Construction on an approved 1 million-square-foot warehouse is expected to begin in July.
Northpoint Development plans to bring more land development proposals before the supervisors this summer.
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Officials from NorthPoint Development, of Kansas City, have told the public that the Keystone Trade Center is designed to add as much as 15 million square feet of new warehouse space and 5,000 to 10,000 jobs with a total investment of $1.5 billion over the coming years. The plan is to develop the “largest e-commerce, logistics, and multi-model industrial project on the East Coast” with room for as many as 20 new buildings constructed on speculative basis.
All three taxing bodies for the property – the Bucks County Commissioners, Falls Township, and the Pennsbury School District – agreed in December to allow the site to become a Keystone Opportunity Investment Zone from January 1 and ending on December 31, 2035. The designation will give the developer tax breaks to encourage growth.
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Previous reporting on the project:
- Municipal Authority Closes On Keystone Trade Center Property
- Construction To Get Underway By July On Massive Keystone Trade Center
- 1 Million-Square-Foot Warehouse For Keystone Trade Center Approved
- First Warehouse Proposed For Keystone Trade Center Project To Come Before Public
- Keystone Trade Center Project Allows Water Authority To Build New Treatment Plant
- Large U.S. Steel Site In Falls Twp. Sold For $160 Million
- County Commissioners Approve Tax Break For Massive Keystone Trade Center Plan
- Tax Breaks Could Help Development At Proposed Keystone Trade Center
- Keystone Trade Center Project Moves Forward
- Ground On Billion-Dollar Keystone Trade Center Could Be Broken By Spring
- Falls Twp. Holding Special Meeting On Proposed U.S. Steel Site Redevelopment
- Plans For U.S. Steel Site Show New Billion-Dollar Development, Potential For Thousands Of Jobs
- EXCLUSIVE: Large U.S. Steel Site To Be Sold To Developer
- U.S. Steel Seeking To Sell Fairless Works Site
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