Oley Road property in Berks County to be renovated with $1.1 million HUD loan

The Berks County Nonprofit Development Corporation received $1,1 million Section 8 loan from the U.S. Department of Housing and Urban Development to renovate the property at 590 Oley Road, Berks County. 

The Redevelopment Authority of Berks County will use the funds to renovate the commercial complex into four separate commercial spaces from the current three spaces, which will retain current jobs and create new employment opportunities, a HUD spokesperson said. 

The Berks County Nonprofit Development Corporation (BCNDC) is the owner of the complex. The property currently contains a commercial building divided into three separate commercial spaces and one three-bedroom single-family house. The house is not part of the rehabilitation project, the HUD spokesperson said. 

 According to HUD, eligible special economic development activities funded with the loan proceeds will meet a Community Development Block Grant national objective by creating and retaining jobs that primarily benefit low- and moderate-income persons.  

 The commercial spaces are occupied with one space leased by the prior owner of the property who will be closing his auction business in approximately six months, according to BCNDC.  

The other two businesses will continue to lease spaces. BCNDC said a bingo hall that has been operating for 15 years has a steady flow of customers. A caterer has been in business for 5 years. 

 According to the catering business’ owner, the business continues to grow and thus needs additional space, which will be part of the project, BCNDC said.  

The project is expected to attract one new business and retain and create jobs, BCNDC said. 

The house is currently rented under the Housing Choice Voucher Program.