(January 16, 2026: Altoona, PA) After more than a decade of planning with external ownership groups, the Altoona Blair County Development (ABCD) Corporation has entered into an “Agreement of Sale” to acquire the Gable’s Building, placing future redevelopment efforts in local control. “ABCD wants to acquire Gables to continue to realize an exciting and aggressive vision for downtown development that includes housing, commercial spaces, and accessible and convenient downtown parking,” said Ann Benzel, Board Chair of ABCD Corporation. “We see this as the next and necessary step for continued economic renewal for the city,” Benzel added.
An agreement of sale has been executed. ABCD Corporation Board and staff will quickly move through final due diligence steps before officially closing on the purchase. “We are immediately beginning to map out the overall footprint of the building. We plan on hearing ideas from local developers, engineers and the City to create feasible scenarios that will accommodate the City’s continued growth trajectory and reflect market conditions,” Benzel added.
“We are looking forward to reimaging this important anchor site and building,” said Stephen McKnight, President and CEO of ABCD Corporation. “While all options are on the table, we can say that any scenario must include additional parking. Downtown investments in recent years have impacted parking availability, especially during peak hours. The existing Gable’s parking garage has been closed for several years, and we know it needs major reconstruction. This is an opportunity to bring it back online,” McKnight added.
ABCD officials announced in 2018 that a Pennsylvania Redevelopment Assistance Capital Project (RACP) grant was awarded to help restore the building’s façade, which would have included exposing the windows or “daylighting” the building as it originally once was. The ownership group at that time and subsequent owners asked for several extensions of the grant but ultimately never advanced with the project. “Much has changed since then and the building condition likely will demand different redevelopment priorities,” McKnight said. “That is what we need to determine, and we will do that by working with the City and experienced developers who can demonstrate the capacity to deliver on such a major redevelopment effort,” he added.
ABOUT ABCD CORPORATION
ABCD Corporation is a private non-profit 501(c)3 certified economic development corporation. It is an affiliate member of the Blair County Alliance for Business and Economic Growth. ABCD has worked as a catalyst for business expansion in Blair County, Pennsylvania and through regional partnership. Founded in 1946 ABCD has facilitated over 3,000 projects reflecting more than $3 billion in total project costs and the creation/retention of thousands of jobs.
