Mayor Eddie Morán and Alan Shuman of Shuman Development Group announced Thursday a major milestone for downtown Reading with the signing of a letter of intent (LOI) to redevelop the Fifth and Penn buildings, one of the city’s most prominent intersections. The signing announcement took place at a press conference outside the former 5th and Penn Bank building.
City and Shuman Development Group sign letter of intent for $52M redevelopment of Fifth and Penn
Posted on February 6, 2026