Dunmire Printing to be redeveloped
A Better Address LLC, an Altoona real estate development and management company, has secured financing for the redevelopment of the former Dunmire Printing building at 818-820 12th St. into a mixed-use commercial and high-end residential property.
CBT Bank, a division of Riverview Bank, is financing the majority of the building and site improvements.
The Penelec Sustainable Energy Fund, managed by the Community Foundation for the Alleghenies, is providing a loan to finance energy-related improvements, such as building insulation, new windows and exterior doors, high efficiency water heaters, and high efficiency heating and cooling equipment.
The Greater Altoona Economic Development Corp. will be providing a facade loan and has awarded a mini-grant enabling improvements to the building’s facade.
Award of the facade loan was contingent upon having a commercial tenant in the building; Escape Room Altoona, a new interactive puzzle room, is scheduled to open in early spring 2018 in a portion of the first floor.
“The financing provided by these three institutions is allowing us to revitalize a vacant building, and transform a community eyesore into a landmark property,” said Judy Coutts, A Better Address LLC member, in a statement.