I have spent the better part of a year advocating for the long-awaited sale and redevelopment of the buildings on the northwest corner of 5th and Penn, that the City of Reading has sat on and let deteriorate for well over a decade. Finally, last month the city decided to sell the Farmers National Bank and Colonial Trust company buildings to Shuman Development Group, after denying his previous proposals 4 times over the course of 15 years. I have covered the history of these buildings extensively in previous posts, so today we will be walking through them with Alan Shuman while he discusses the project.

The Farmer’s National Bank will be the first building tackled in this project, and is in fairly good shape for the amount of time it has remained abandoned. In the main banking room, small typical plaster repairs and refresh of paintings are all that the space needs. The largest part this project will be restoring the skylight that was originally in the building before American Bank’s 1982 renovation. Retail space will take up the main floor, with a restaurant utilizing the incredible vault in the basement. He speculates that if all permits are obtained in a timely manner, the Farmer’s building could be completed by the end of this year.

The Colonial Trust building will be the second phase, hopefully beginning in early 2027, set to redevelop the building’s upper seven stories into residential apartment spaces. Shuman plans to pursue historic tax credits which means he will be able to restore the building to historic accuracy.

The Liever Building, which has been condemned and is beyond repair, will be razed to make way for new construction which houses more residential space on the three upper floors with retail on the ground and second levels. The entire plan is projected to cost $52 million.

This project is a long time coming, quite possibly a turning point in the revitalization of Reading’s Penn Square. I am hopeful that in my lifetime, I will see the Square return to a bustling hub of people; shopping, dining, and being entertained. The goal isn’t to return to the glory of yesteryear, the goal should always be to pioneer into a future that caters to the needs of today’s society. I am going to continue to document the architecture of Reading, and its transition into this new age. Al l of the moving parts, of Government, developers, and local voices like mine, hopefully forging a future that we can all be proud of.