WEST CHESTER – December 6, 2021 – State Senator Carolyn Comitta announced $2 million in state funding for the construction of a new office building in Tredyffrin that will support hundreds of new high-wage jobs.
The funds will support the construction of a new corporate headquarters for Equus Capital Partners, a real estate investment manager that acquires and develops office, multi-family, industrial, research and development, and retail assets.
The shovel-ready project, planned for a 10-acre site on Swedesford Road, will be the first mass-timber office headquarters in the Philadelphia market. It also calls for a two-story parking structure. Upon completion, the new building will support 660 new, high-paying jobs.
“It’s important that we continue to support projects that bring new investment and job opportunities to our region while utilizing renewable materials and sustainable building practices,” Comitta said.
The Redevelopment Assistance Capital Program (RACP) is a Commonwealth reimbursement grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. RACP projects are authorized in the state budget, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity.