Cumberland Economic Development Corporation Announces Partnership with PennTex Ventures LLC
The Cumberland Economic Development Corporation (CEDC) announces today that PennTex Ventures LLC has been engaged to pursue the development of a targeted area of the Rolling Mill area of Cumberland, Maryland. A Greensburg, Pennsylvania company, PennTex Ventures LLC brings their expertise and track record of quality development projects in this and surrounding regions. Most notable is their recent development of Winchester Court in LaVale, MD.
“This is a great opportunity for the City of Cumberland and Allegany County to continue the commercial growth that has been seen over the past 18 months, while at the same time improving an important gateway into our community,” said Shawn Hershberger, the CEDC’s executive director. “We are fortunate to have aggressive political bodies at the city and county level who want our economic development efforts to make significant change within our community that goes beyond the immediate job creation and long term increase in tax base.”
There are no detailed plans for redevelopment at this time, but the development partnership will allow the CEDC and PennTex to work cooperatively on bringing a quality redevelopment scenario to completion.
About Cumberland Economic Development Corporation
The Cumberland Economic Development Corporation is a registered Maryland non-profit economic development organization tasked with oversight of economic development efforts within the City of Cumberland, Maryland. The CEDC is overseen by a board of directors comprised of established business leaders and staffed by professionals with years of economic development experience and education.
About PennTex Ventures LLC
PennTex Ventures LLC is a Commercial Real Estate Development and Construction Firm. We focus on developing traditional single tenant retail, financial and convenience properties for our clients. With over 100 years of combined experience and knowledge in PennTex Ventures’ management team alone, we are able to specialize in difficult to obtain properties and succeed where other developers fail. PennTex Ventures understands and overcomes hurdles placed by environmental issues, zoning, permitting, LEED requirements, traffic issues and geological challenges in site development.