Residences soon will join the expansion in downtown
Allentown that is seeing a dramatic surge in business space.
City dwellers looking to be among the first to land new
luxury high-rise apartments can pay a deposit to be on the first priority list
for STRATA, the Flats at Four City Center. The $50 million project at the
corner of Seventh and Linden streets is expected to open in late summer next
year, according to J.B. Reilly, CEO of City Center Investment Corp., the
company investing millions in new economic development in the city.
Reilly said City Center is taking renovations, and that
applicants who pay a $100 refundable deposit get preferred selection.
Monthly rents start around $1,000 and go up to $1,200 for
two-bedroom units, Reilly said at a press conference.
The project includes 170 studio, one-bedroom and two-bedroom
flats. Highlights include community wide Wi-Fi, a private green courtyard
lounge and rooftop party deck. Landmark Communities, which operates several
luxury apartment communities in the Lehigh Valley, will manage the residential
portion of the property.
Commercial and retail space is available on the first floor
of the building, which is going up directly across from the PPL Center hockey
arena and the Renaissance Hotel by Marriott under construction.
“We are talking to a bunch of shop owners, restaurants and
cafés; there’s very strong interest,” Reilly said.
He declined to identify potential tenants.
Four City Center has about 10 to 12 commercial/retail spaces
and covers 250,000 square feet with 100 underground parking spaces, Reilly
said. Parking for residents also will be available in the Linden Street parking
deck.
The five-story building is rising on an extension of the
Allentown Artswalk, a pedestrian walkway that will connect the arena at PPL
Center with city arts venues, including Miller Symphony Hall and the Allentown
Art Museum.
Mayor Ed Pawlowski praised the development, noting how many
people – including city residents, businesses and the Allentown chapter of the
Greater Lehigh Valley Chamber of Commerce – played a role in pulling together
the project.
“This is going to be the place to be in the entire Lehigh
Valley,” Pawlowski said. “It’s a new beginning for Allentown.”
Source: LVB.com
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