FALLS TOWNSHIP, PA — A 1 million square-foot warehouse on River Road is part of the first-phase plans at the Falls Township development on the old U.S. Steel site.
The Falls Township Planning Commission is expected to begin reviewing that first phase of the $1.5 billion Keystone Trade Center development next week. The commission meets on Tuesday, Jan. 26, and Township Engineer Joe Jones has told supervisors the plans will be on the agenda.
Earlier this month, U.S. Steel announced it had finalized the sale of about 1,800 acres to Northpoint Development. Northpoint plans to develop the location, which has been mostly dormant since 2001, into a bulk logistics center with 20 or more industrial warehouses.
They hope to attract major companies like Amazon, GM, Walmart, UPS and FedEx to the site.
After it is considered by the planning commission, the development could be reviewed by Falls supervisors as early as their March 15 meeting.
Northpoint plans to build 20 or more industrial warehouses totaling between 10 million-15 million square feet. Once complete, the center is expected to create 5,000-10,000 jobs, developers say.
Work on the site is scheduled to begin this spring. It is expected to include upgrading utilities, paving roads, landscaping and about $25 million toward environmental remediation.
Falls supervisors, along with the Pennsbury School Board and Bucks County Board of Commissioners, have voted to declare the property a Keystone Opportunity Investment Zone. As such, Northpoint gets a 15-year break on real estate taxes, instead paying about 110 percent of what’s currently owed on the property.
That amount will stay the same through 2035 and won’t go up as Northpoint develops the property — a move that would usually increase its tax assessment.
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