READING, Jan. 25, 2012 — A Reading development project has been awarded significant state funding toward the construction of a four-star downtown hotel, according to state Sen. Judy Schwank and state Rep. Tom Caltagirone.

The Greater Berks Development Fund has been awarded a $5 million Building PA Fund loan to support, among other projects, the Downtown Reading Hotel Project.

Reading Hospitality, LLC will develop a 190,000 square-foot, four-star Doubletree Hotel located directly across from the Sovereign Center.

“The construction of a new hotel will provide a real boost to our local tourism and economy,” said Schwank (D-11th dist.). “It will entice visitors of the Sovereign Center to stay overnight in Reading before or after a show, and will attract companies and organizations to host meetings and presentations in Reading.”

“I’m so pleased that the state is investing in our area,” said Caltagirone (D-127th dist). “Hotels are economic engines for cities, and it will give out-of-town guests an opportunity to visit our shops and restaurants and enjoy all that Reading and Greater Berks have to offer.”

The funds were approved by the Commonwealth Financing Authority (CFA).

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