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. 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.
|--||New Value: $5,900,000|
|3/14/2019 3:12:38 PM||New Value: $5,900,000|
|1/24/2018 2:50:00 PM||New Value: $4,500,000|