Jaindl Properties has jumped into the fray of developers looking to cash in on Allentown’s new downtown taxing district.
Jaindl on Tuesday announced plans to develop the 26-acre Lehigh Structural Steel site into what could be offices, shops and town homes along the Lehigh River. The arrival of the banker-turned-developer revived a waterfront plan by Dunn Twiggar Co. that has been dormant for three years.
Under the deal, Jaindl, whose family name has become synonymous in the Valley with Thanksgiving turkey and land development, and Dunn Twiggar will partner to buy the land from Lehigh Structural Street for an undisclosed price.
From there, they plan to devise a new master plan, match it with what city officials have been planning and then use local and state revenues from the city’s new Neighborhood Improvement Zone to build it.