NIZ Development Opportunity
Listing was updated at: 03/18/2019
Property Overview
Price/Rent PSF $ 5,900,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 34,020
Date Available 03/18/2019
Additional URL Link
Floors 2
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Description

Location
Located at signalized intersection of 10th and Hamilton Street.

Sale
Downtown Allentown, PA development site/redevelopment opportunity For Sale located in the burgeoning Neighborhood Improvement Zone (NIZ). The NIZ is unprecedented State Tax legislation created in 2009. The program has spurred almost one billion dollars in new development in downtown Allentown since it's inception including PP&L Event Center (Home to the Lehigh Valley Phantoms), multiple high rise office buildings, restaurants, retail, apartments and much more. Virtually all taxes generated within the NIZ (except school taxes and city taxes) can be used to pay down debt service on any financed construction improvements within the zone. This is one of the largest properties in the downtown available to purchase and develop. For more information go to:
https://www.allentownpa.gov/Neighborhood-Improvement-Zone
The current structures consist of approximately 34,020 SF of retail, office and residential in varying condition. The lot size is .42 acres. The structures can be redeveloped or razed for new development. Call Ayon Codner today for more information.

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