The Waterfront Master Plan Revealed
Today The Waterfront master plan was presented to the Allentown Planning Commission. The redevelopment, officially called The Waterfront, will be the transformation of approximately 26 acres of industrial land along the western side of the Lehigh River in the City of Allentown into a unique and vibrant waterfront setting.
With its half mile of direct river frontage, The Waterfront will be the only location of its kind in the Lehigh Valley to offer unparalleled views of and direct access to the Lehigh River.
The site is located within the City of Allentown’s Neighborhood Improvement Zone (NIZ) and the strength of the NIZ has provided developers the ability to begin new projects within the City.
Mark Jaindl of Jaindl Properties commented, “We are very excited about the level of interest being expressed from companies looking to grow into Allentown. The NIZ has created a level of energy in the City that hasn’t been felt for decades. When this project is fully developed in ten years, the site’s transformation will add to Allentown’s increased desirability as a destination to live, work, and play.”
- The Waterfront will consist of office (610,000 SF), residential (172 apartment units), and retail (130,000 SF).
- The Waterfront will include 2,800 parking spaces in variable formats including multi-level garages.
- The Waterfront will provide walking trails and landscaped areas along its half-mile of river frontage.
- The Waterfront will provide over seven acres of landscaped areas.
- The Waterfront will provide additional boating facilities along the Lehigh River.
- Recreational opportunities will expand on the Lehigh River with public access made possible.
- The working spaces on site are anticipated to allow for +3,000 job opportunities.
- The value of the project is projected to be $250,000,000 — $275,000,000 upon completion.
- It is anticipated that the annual real estate tax revenue to the Allentown School District, City of Allentown, and Lehigh County will exceed $4,000,000 per year upon completion.