This year's approved state budget authorized PHFA to sell $3 million of state tax credits and use the proceeds to make awards for the development of mixed-use properties in commercial/retail corridors in Pennsylvania that are undergoing revitalization.

The Innovation Challenge calls for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to build public-private and community partnerships, nurture entrepreneurship and upgrade infrastructure.

"There are especially attractive deals in the new construction space especially in high quality assets with a long term hold."

AmTrust Bank will keep a branch in the building after hammering out a leaseback agreement.