There has been a bit of drama recently surrounding the property at 100 South 4th Street in Reading. The property was purchased in 2021 by Dream Ventures PA II LLC, front for Brooklyn-based developer Heights Advisors. This is the same investment company which currently owns the Luden Mansion/Central Catholic and the Santander office building at 601 Penn Street. The plan was develop this former mill building into apartments for Alvernia students, but it seems like whatever agreement they had with the university fell through.

In 2022 Dream Ventures submitted plans for 20 apartment units in the building – 6 studios, 10 one-bedrooms, and 4 two-bedrooms. The developer requested relief from zoning ordinances regarding minimum square footage requirement as some of the proposed apartments did not meet the standard. The City Zoning Board unanimously granted the request. (Click the link to read the report) Part of the understanding between the developer and the city was that the housing would be market-rate.

Below are photos from the building’s original 2015 MLS listing pre-development:

Also in 2022 Reading’s City Council allocated $3.5 million in ARPA funding which was meant to invest in affordable housing under the HOME action plan. Part of the stipulation of the HOME action plan required a bid to create non-congregate shelter housing for those who recently were homeless but still able to make rental payments. Local non-profit Opportunity House was the lone bidder for the funds.

The Opportunity House wanted to use the funds to purchase the 100 South 4th Street property for $2.9 million. One of the main problems cited by council members was a discrepancy between the fair market value of the property and the appraisal provided by the Opportunity House.

Ultimately, on March 23rd council voted 4-3 against the resolution. The following day the Mayor held a press conference urging council to revote and push it through. There has been no movement on the issue since.

History

The 1907 deed transfer of this property described it as a two-story brick dwelling and single story store building. It was purchased by Alan Potts, president of the General Advertising Company. The company was chartered in 1901. In 1920 Potts deeded the building to the company, and the deed describes the current four-story factory, so it is likely that Potts had the it constructed shortly after he purchased the property in 1907.

General Advertising Company was described in the Reading Times as being the manufacturers of enameloid art signs and calendars. I googled the word “enameloid” because I thought it was a typo, but low and behold, the first image hit was an actual sign made by the company. Apparently the process was patented in 1900. General Advertising Company operated out of the building until it went bankrupt in 1942 and the property was taken by the Berks County Trust Company.

In 1944 the property was purchased by William Turner, who began operating his two businesses, Turner Knit Products and Turner Realty Company, out of the location. William died in 1963 after being stricken with a heart attack while he was at his office in the building. Operations continued under his son Robert, as Turner Textiles, until 2012.

The property was sold to a David Hua in 2012. Hua deeded it to Turner House of Reading LLC in 2019 for $150,000.

That brings us back to 2021 when Dream Ventures LLC took ownership for $180,000 and redeveloped the building. Personally I am not a fan of the vinyl windows. Windows that actually fit the original space and perhaps a black frame would have really made this place look great from the street, but obviously would have cost more. View photos of the finished apartments here. All of the units are between 318 and 461 square feet. These apartments are so obviously tiny even with the wide-angle lens shots. According to the Reading Lofts website linked above, studios start at $1265 per month and the two bedrooms up to $1475. This same developer was also granted exemption by the Zoning Board from minimum square footage requirements for the 601 Penn Street building, in which they plan on developing 207 units starting at 224 square feet.