It's a big day for Erie's ongoing Eastside Renaissance Project, with leaders of an effort to turn Erie's eastside around announcing plans for new bank branch, right at the heart of the area they're targeting.

It's something that the east Erie neighborhood hasn't had until now.

It's all part of the ongoing Eastside Renaissance Project, a multimillion-dollar plan to invest in property and people on Erie's eastside, specifically Parade Street.

The new ErieBank branch is set to go up at the corner of East 10th and Parade.

It's something project leaders had as one of their top priorities for the neighborhood.

"We're going to make a major investment in Erie, Pennsylvania. Right here on Parade Street because Erie, Pennsylvania can be a model city within the United States of America if we have the wherewithal to make it a model city," said Bishop Dwane Brock, Eastside Renaissance. "Projects like this project right here on Parade Street will make things happen."

They say it'll be more than a bank, with plans calling for a partnership with Penn State Behrend on financial literacy programs for area residents.

Erie News Now will have more on this story when we talk with ErieBank president Dave Zimmer and the Eastside Renaissance Project's leader, Bishop Dwane Brock on WICU 12 at 6 p.m.