WILKES-BARRE -- A $28 million development project is expected to come to downtown Wilkes-Barre.
In an announcement on Saturday afternoon, Wilkes-Barre city leaders gathered to reveal that the Engel Building located near the corner of South Main Street and West Northampton Street would be replaced with a state-of-the-art, privately funded development.
"It's an exciting time for our city of Wilkes-Barre," said Mayor Tom Leighton.
The money is coming from SPV Ventures, a holding company based in India. Plans call for a building at least 10 stories high, that would include a hotel, apartments, condominiums, retail space and a 17,000 square foot banquet hall.
"The top two floors are going to be higher end condominiums with floor to ceiling glass and balconies and outstanding views of the market," said Alexander Belavitz, President/CEO of Facility Design & Development Ltd.
"This announcement in many ways is a validation of downtown revitalization effort that's been going on for the past 10 years," said Larry Newman of Diamond City Partnership.
Customers at Xtreme Salon will have a front-row seat for the next two years. Construction where the Engel Building currently sits is scheduled to begin in the spring.
"I think it's going to really bring the area to another level," said Rebecca Allen of Dallas.
"I would love to see Wilkes-Barre be what it used to be 40 years ago before the flood," said Helen Livingstone, who has lived in Wilkes-Barre all her life. "Now, you're afraid to come downtown. You're afraid to walk the streets. When it's 5 o'clock, I'll be afraid to go to my car. I'll be afraid to go to Boscov's. It's really bad. I think [the development] will be great. We need more!"
Construction on this privately-funded development is scheduled to start in the spring and wrapping up by the fall of 2017.