Outstanding redevelopment opportunity available for immediate sale in Allentown, PA. The total SF of the existing building is +/- 14,146 SF and is currently zoned as Medium High-Density Residential, which allows for multiple uses such as five or more multi-unit residential projects, off-street parking, single or two-family dwelling, and much more.
The subject property is located within close proximity to the Waterfront Development spanning twenty-nine acres on the western banks of the Lehigh River. This project will consist of Class A office, retail, entertainment venues, and luxury apartments. Downtown Allentown and the Waterfront have been burgeoning in recent years due to the economic program called the Neighborhood Improvement Zone (NIZ). The NIZ legislation created in 2009 has inspired major developers such as City Center Investment Corp. to invest approximately $700M into major development projects that have helped with the transformation of Downtown Allentown. Recent mixed-use projects such as Five City Center, 520 Loft, Tower 6, and a newly built 120-unit apartment community at 9th and Hamilton Street have added to the growth of this outstanding city on the move!
The property is located minutes from Route 22, Rt. 33, Rt 145 and I-78.