More than 400 real estate and construction professionals
joined Lehigh Valley Business for a Real Estate and Development Symposium this
morning at DeSales University Center.
Highlights included an economic forecast with Luke Tilley,
officer and economic adviser of Federal Reserve Bank of Philadelphia who shared
insights on the robust growth found in the Greater Lehigh Valley and the
national and regional economy.
Speaking of the national economy, Tilley spoke of confidence.
"The second half of last year was significantly higher
than the first half," he said. "We entered 2014 in a much stronger
position."
Joe Fitzpatrick, shareholder and founder of Fitzpatrick,
Lentz & Bubba in Upper Saucon Township, led a panel discussion on major
projects including the Chrin Route 33 Interchange in Palmer Township, City
Center Lehigh Valley in Allentown and the Bethlehem City Revitalization and
Improvement Zone (CRIZ).
In each of these municipalities, tax incentives offer a
boost to developers seeking tenants and construction work for economic
development projects.
Speakers included Dave Colver, chairman of the Palmer
Township Board of Supervisors; Jim Harbaugh, executive vice president and chief
operating officer of City Center Lehigh Valley and Alicia Miller Karner,
director of community and economic development for Bethlehem.
Colver unveiled plans for a new $150 million development in
the Chrin Industrial Park for a 200-acre 1.1-million-square-foot warehouse
distribution center.
Final approval for the $65 million phase one of the project
is expected by May with construction to begin this summer. Phase two is a $35
million project. The entire project, which should ultimately consist of four
buildings is expected to be complete in about 3 years, he said.
Don Cunningham, president and CEO of Lehigh Valley Economic
Development Corp., led a panel discussion on "What's Hot and what's not in
the Commercial, Industrial, Office and Residential Real Estate Markets in the
Lehigh Valley."
For this panel, experts discussed growth area of these
sectors and outlined what projects will be taking shape in the years to come.
Speakers included Bill Wolf, executive vice president of
CBRE; Doug Frederick, commercial real estate broker for The Frederick Group;
and David Jaindl, owner and president of Jaindl Land Co.
Networking opportunities abounded throughout the event as
dozens of companies displayed their exhibits until 11:30 a.m.
Source: LVB.com
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