EASTON, Pa. — Easton will apply for a $1.5 million state grant that it intends to direct to an apartment development being built in the city.
City Council on Wednesday voted to apply for a Redevelopment Assistance Capital Program Grant to direct the funds to parking at the ongoing Watermark Project.
- Easton City Council voted Wednesday to apply for a $1.5 million state grant that it would direct to the Watermark Easton apartment project
- The project would include two buildings featuring 150 apartments, along with a parking deck for at least 200 vehicles, at 45 Larry Holmes Drive
- The project got $1.5 million in funding from the first round of applications in 2022
Watermark Easton, which began construction in late 2021, is set to include two buildings featuring 150 apartments, along with a parking deck for at least 200 vehicles, at 45 Larry Holmes Drive.
Located on a 100-year floodplain, the project will feature ground floor parking, along with second-level parking on a raised platform separating the roughly 21,700 square foot mid-rise buildings.
Both buildings will hold 75 units, including studio, one-bedroom, and two-bedroom apartments.
The RACP offers grants administered by the state Office of the Budget “for the acquisition and construction of regional economic, cultural, civic, recreational and historical improvement projects,” according to the program’s website.
RACP projects are meant to have a regional or multi-jurisdictional impact that could lead to increases — or at the very least, maintenance of current levels — for employment, tax revenues, or other measures of economic activity.
Previous funding success
During the first round of applications in 2022, Watermark Easton LLC sought $3 million to support construction of the parking structure at the site, along with associated site improvements.
It was awarded $1.5 million, according to the RACP.
“Each building will offer residential space with balconies and views of the Delaware River.”Easton-based VM Development Group LLC, which is heading the Watermark Easton Project
Easton-based VM Development Group LLC, which is heading the project, has stated “each building will offer residential space with balconies and views of the Delaware River.”
In a statement released Oct. 26, 2022, state Sen. Robert Freeman, D-Northampton, said he helped secure the project funding, along with $3 million that will be directed to the Easton 185 S. 3rd St. Confluence project, which will add a 183-space parking garage and podium.
“These projects will be a nice addition to the Easton Transportation Center and along the waterfront and will bring needed parking to the city," Freeman said.
"I am glad that I was able to play a part in getting this funding released by the Wolf administration and I would like to thank the governor for approving the grants."
Getting funds 'slightly more complicated'
While that initial application was accepted in that round, securing the funding itself is slightly more complicated, as Easton Community and Economic Development Director John Kingsley put it.
“The RACP program works kind of backward,” Kingsley said. “In the respect that in most grant programs you file the application and you’re actually receiving the award based on the application.
“In a RACP, you have to have an itemization in a bill that basically creates a holding position for the project, and then you submit a single application showing your intent to file the full application.
"Once they see the single application, they decide if they want to provide authorization if you file the full application.”
Kingsley said the project is progressing at a good rate, with the anticipation of moving on to the next phase within a year.
“The project is actually under construction now, so the first phase is well underway,” Kingsley said.
“The second phase is supposed to start before the year end, but we’re probably pushing for the first quarter of next year, so the project is proceeding exactly as we anticipated it would.”
