The rural central Pennsylvania community of Smithfield Township is getting a significant economic boost with the start of a new $20 million retail center called Smithfield Towne Center.
St. Louis-based THF Realty is developing the 189,000-square-foot shopping center that will be anchored by a Wal-Mart Supercenter on the site of former state prison land. It will employ up to 400 people and is projected to serve as a catalyst for business growth in the 4,000 plus person community.
“THF’s development signals a significant improvement in Smithfield Township’s business prospects,” said Jeff Shaffer, chairman of the Smithfield Township Supervisors. “After a decade of seeing industrial jobs leave the area and, more recently, seeing retail services erode, Smithfield Towne Center puts our community back on the map as a commercial destination. It will not only bring jobs, but also add more than $2.8 million in annual tax revenues to fund vital services. It has already generated interest in additional development in our community.”
Smithfield Towne Center will emerge from a 67-acre site at the intersection of U.S. Route 22 and State Route 26. The land is part of a 116-acre tract that was transferred from the Commonwealth of Pennsylvania to Smithfield Township for economic development purposes.
Smithfield Township began exploring development options for the tract several years ago. It contracted with Delta Development Group Inc., a Mechanicsburg, PA-consulting firm, to seek proposals. THF’s bid was selected in 2003.
Smithfield Towne Center will feature a 159,000-square-foot Wal-Mart Supercenter and 30,000 square feet of complementary retail.
“We believe the property will trigger an economic boom for the town and its residents,” said Michael Staenberg, president of THF. “It will dramatically upgrade the quality and convenience of shopping and attract other businesses to neighboring sites, creating a whole new community of commerce.”
Currently, the closest major shopping center to Smithfield Township is 45 minutes away in Altoona or State College.
“This is an outstanding example of federal, state and local governments collaborating to boost economic development,” Shaffer added. “Everyone worked together to secure funding for off-site improvements to make the project a reality.”
THF will develop the Wal-Mart, attached retail and up to six out-parcels on the land. The site will be extensively landscaped with more than 900 trees and shrubs. It will be accessed via a signalized entrance from State Route 26 and an entrance from US Route 22. Parking will be provided for approximately 1,100 vehicles.
Smithfield Towne Center is the 19th shopping enclave developed by THF Realty in Pennsylvania.
Founded in 1991 by E. Stanley Kroenke and Michael Staenberg, THF Realty specializes in developing and managing office, retail and residential property. The firm has a development portfolio in excess of $2 billion, including 18 million square feet of commercial real estate in 20 states. For the second consecutive year, it was recently ranked the nation’s fastest growing private retail developer in a survey conducted by Retail Traffic Magazine.
