Reliance Bank is set to become the first tenant in the Mill in Altoona since its rejuvenation, officials say.
President and CEO of Altoona Blair County Development Corporation Stephen McKnight said, “Today really marks the rebirth of a very significant historic building.”
Along with the expansion of the corporate offices, the location of the bank will also move from its current spot at 1119 12th street to 1300 11th avenue.
“Right now our branch is located not in a high traffic area, we’re really not able to serve the customers where the growth is in downtown Altoona, so it’s certainly going to allow us to do that and have expanded hours.”
This project could set up more growth in Altoona.
“Projects like this, success breeds success, so the more businesses are able to attract talent and grow helps other businesses do the same.”
The headquarters will use about 20,000 square feet of the 100,000 square feet in the Mill.
We are not taking our foot off the gas when it comes to marketing the remaining space in this building. I mean, we won’t be happy until it is 100 percent occupied.
Officials say this area of Altoona is continuing to grow.
“It works for us to serve our customers better, as well as we’re thrilled to be a part of the expansion and the growth that’s happening in this part of town.
“This move is critical because it connects the downtown area with a neighborhood edge.”
The move could also affect on Altoona because of the potential for the old reliance bank location.
“We’re going to be working with the city and the reliance bank team to re-envision the former building downtown, Right now, housing is in very high demand so the potential for that space to become a mix used residential is something we’d like to see. We’re going to examine all those options in the next several months.”
“I declare today a great day.”