A massive redevelopment project in Falls moved forward as officials approved plans from NorthPoint Development for a 1-million-square-foot warehouse at a former U.S. Steel property.
Supervisors unanimously granted preliminary and final land development plan approval that will kick off what will ultimately be to 15 million square-feet of development on the 1,800-acre site bringing potentially 5,000 to 10,000 new jobs to Bucks County.
NorthPoint plans to carry out the multiple phase warehouse project with 20 or more state-of-the-art industrial warehouse buildings for various Fortune 500 companies.
Possible tenants include GM, Amazon, Chewy, Walmart, UPS, FedEx and more.
More:Will U.S. Steel site see new life? Developer investing $1.5B to make it an East Coast giant of industrial space
Supervisors approved a master plan for the site in December, but the new Keystone Trade Center project is spread across multiple plots requiring NorthPoint return to the township for individual plan approvals.
If the project does expand to 15 million-square feet over the next decade, it would be the largest e-commerce, logistics and multi-model industrial project in the country's Northeast region. The company closed on the reported $160 million purchase of the site in January, and is expected to invest some $1.5 billion in its transformation.
The warehouse is part of the first phase of construction at 100 acres of the property on eastern side of River Road, south of Biles Creek on the eastern portion of the development, a news release from the township states.
The building will stand 49-feet tall and include up to 196 doors for large trucks, which would enter the site through Tyburn Road and Route 13, the news release adds.
Construction is set to begin soon and be substantially completed over the summer, according to officials.
For subscribers::Lower Makefield Wegmans, other Bucks developments inch forward
More:Developer finalizes $160M purchase of U.S. Steel site in Falls
No real estate taxes will be collected from the redevelopment project over the next 15 years as part of a tax incentive program, but the developer won't be getting a free ride in Falls.
The township, Pennsbury School Board and Bucks County Commissioners approved the creation of a Keystone Opportunity Investment Zone in December covering the entire U.S. Steel site.
The KOIZ designation means the developer won't have to pay real estate taxes until 2036, but NorthPoint has agreed to pay 110% of taxes currently owed.
NorthPoint has also agreed to contribute to police and fire services and road maintenance at the site, and also plans to invest $40 million to $45 million in environmental remediation.
In the 1990s, the U.S. Environmental Protect Agency placed a consent order on the property requiring the site to be cleaned of hazardous waste. Since then, U.S. Steel has received a “release of liability” of roughly 70% of the property.
NorthPoint will be responsible for the other 30% of the property. This will include cleanup of borrow pits, soil remediation and protective capping measures.
Along with the cleanup, the company will make improvements to water and electrical utilities at the site.
Supervisors also approved a minor subdivision of a 54-acre parcel in the southwest corner of the site where a wastewater treatment facility is located.
Morrisville Municipal Authority, the provider of the site’s water and sewer-related utilities, will construct its new state-of-the-art $125 million wastewater treatment facility on the site. The plant is expected to be operational within the next four years.