CRIZ support tied to more than $105 million in development activity in first year
The Erie City Revitalization and Improvement Zone Authority today announced that the Commonwealth of Pennsylvania has approved the first three project applications submitted through the Erie CRIZ program, authorizing the use of CRIZ increment to support eligible financing for more than $105 million in initial development activity.
The approvals mark a major milestone in the Authority’s first year of operations and demonstrate the CRIZ program’s ability to accelerate transformational projects in Erie’s downtown and bayfront corridor.
The approved projects are:
- Scott Bayfront Hotel Applicant / Entity: Scott Enterprises Total Project Cost: $37,000,000 CRIZ Approved: $7,600,000
- Bayfront Parking Ramp Expansion Applicant / Entity: Erie County Convention Center Authority Total Project Cost: $10,00,000 CRIZ Funding Approved: $8,000,000
- The Trust Hotel / Renaissance Center Applicant / Entity: 1001 State OZ Operator Total Project Cost: $58,000,000 CRIZ Funding Approved: $5,000,000
- Total Approved Projects Total Project Cost: $105,000,000 Total CRIZ Funding: $20,600,000
The approvals were issued jointly by the Pennsylvania Department of Revenue, the Department of Community and Economic Development, and the Governor’s Office of the Budget. Under the approved structure, CRIZ increment generated within the zone may be used to support debt service on CRIZ-eligible financing for the approved projects.
“This is a major milestone for our community,” said Matthew B. Wachter, Chair of the Erie CRIZ Authority. “In the Authority’s first year of operations, the CRIZ program has helped make possible more than $100 million in initial development activity. That is exactly what this tool was designed to do: accelerate investment, unlock projects that otherwise may not move forward, and create long-term economic momentum for Erie.”
The Erie CRIZ program is designed to support new development and economic activity without imposing any new taxes. Rather, the program allows certain state and local tax revenues generated by economic activity within the zone to be reinvested into eligible projects. The first three approved applications include a new bayfront hotel, a major parking infrastructure expansion, and the redevelopment of the historic Renaissance Centre into The Trust Hotel.
The Trust Hotel project represents a significant investment in preserving a historic downtown Erie landmark while creating a new destination for visitors, residents, and businesses.
“This investment represents confidence—not only in The Trust Hotel, but in the future of downtown Erie,” said Christian Siembieda, Owner, The Trust Hotel. “We’re grateful to the CRIZ Authority and Senator Laughlin for believing in our vision. CRIZ funding allows us to continue transforming this iconic building into a destination that will attract visitors, create jobs, support local businesses, and generate lasting economic impact for our Erie community. We look forward to welcoming guests to a hotel that honors the building’s history while helping write Erie’s next chapter.”
“These approvals are the result of a significant amount of coordination among the Authority, project sponsors, and our partners in Harrisburg,” said Brian Polito, Executive Director of the Erie CRIZ Authority. “The Authority was established to accelerate responsible, high-impact development within the CRIZ district. Approval of these first three project applications demonstrates that the program is working, that Erie has a strong project pipeline, and that we are now positioned to turn planning into visible construction and economic activity.”
In total, the Erie CRIZ Authority has received applications for projects representing approximately $151.6 million in total project costs and approximately $35.6 million in requested CRIZ funding. The approved applications announced today account for the first phase of that pipeline and establish a practical framework for using CRIZ increment to support eligible project financing.
The approved projects are expected to strengthen Erie’s downtown and bayfront development corridor, increase visitor capacity, support new employment, expand the local tax base, and generate additional economic activity within the CRIZ district. They also demonstrate the flexibility of the CRIZ tool, supporting both private development and public infrastructure that enables broader investment.
Wachter also thanked the state and local partners who supported the Authority’s first year of operations.
“We are grateful to Governor Shapiro’s administration, the Department of Revenue, DCED, and the Office of the Budget for their careful review and continued partnership,” Wachter said. “This wouldn’t be possible without the leadership and support of Senator Dan Laughlin, Representative Bob Merski, Representative Pat Harkins, the City of Erie, Erie City Council, and our Authority Board as we work together to advance responsible growth and investment in Erie.”
The Erie CRIZ Authority will continue working with approved project sponsors on final financing, compliance, and implementation steps, while also advancing review of additional submitted applications.
