Downtown Allentown is in line for an unprecedented $200 million in new development, and as much as $500 million if a 10-year master plan pans out, all made possible by its one-of-a-kind Neighborhood Improvement Zone.
And that doesn’t include the planned $158 million hockey arena.
Developer City Center Investment Corp. won approval Tuesday from the Allentown Commercial Industrial Development Authority for $135 million in Neighborhood Improvement Zone financing, subsidized by the state and local tax revenues of its future tenants.
City Center will supplement that with $45 million in additional private financing and private capital to construct four new buildings arrayed around Allentown’s Center Square, including three new office complexes and a 200-room hotel valued at more than $200 million, said J.B. Reilly, City Center co-owner.
Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)
Lancaster City Council members Tuesday approved the rezoning of the former Lancaster Family YMCA site to allow for the construction of a new medical office building and parking garage.
Council members also began consideration of a bill that would take a portion of a parking lot by eminent domain as part of plans to expand City Hall.
The rezoning changes the former YMCA site at North Queen, East Frederick and North Prince streets from a residential designation to “hospital campus.”
Lancaster General Health, whose parking garage lies just across North Queen Street from the site, plans to construct a five-story, 175,000-square-foot administrative office building. Some 550 employees now working in rented space in Burle Business Park on New Holland Avenue would be shifted to the new building, hospital officials said.
A six-level, 632-space parking garage would be built adjacent to the office building, at Prince and Frederick streets, to serve the employees.
As upscale retailer Saks Fifth Avenue prepares to close its doors today, the city’s Urban Redevelopment Authority is bidding to take control of the building that housed it.
The URA has made an offer to purchase the four-story building, which was put up for sale in January after Saks decided to close the store after more than 60 years Downtown.
It is not known how much the URA offered for the 86,000-square-foot building. The owner, Oliver-Smithfield Joint Venture, has been seeking $5.5 million for the property, which is located on Smithfield Street near Macy’s department store.
Yarone Zober, chairman of the URA board and chief of staff to Mayor Luke Ravenstahl, had no comment when asked about the offer.
After months of controversy, the city’s Stadium Authority cleared the way Friday for the latest development between Heinz Field and PNC Park — a $20 million retail and office project next to Stage AE.
Stadium Authority board members unanimously approved conceptual plans for the development and voted to sell the 1.3 acres needed for the project to North Shore Developers L.P. for $900,000, the appraised value.
The project is the first one advanced by developer Continental Real Estate Companies and the Steelers and the Pirates since the board voted last fall to amend a 9-year-old option agreement with the teams and extend the deadlines they had missed for developing land between the stadiums.
An ethylene cracking plant that Shell Oil Co. could build in Beaver County‘s Potter Township may generate hundreds of technical jobs that would demand a chemistry-savvy workforce, experts said Friday.
A study by the American Chemistry Council, completed in August, found that if such a plant were located in Western Pennsylvania, it would eventually spur related industrial developments that would directly employ around 2,400 people at a total annual payroll of $347 million.
Around a quarter of the employees needed would be supervisors, managers, chemists, engineers and information technologists, and many of the rest would be technicians, said Kevin Swift, chief economist for the council.
Representatives of Perdue AgriBusiness gave Conoy supervisors a preview Thursday of a $59 million soybean processing plant the company wants to build in the township.
But official township review of the plant will be less extensive than previous efforts to build on the 57-acre parcel next to the Lancaster County Solid Waste Management’s waste-to-energy plant.
The site along Route 441 has twice been considered for distilleries for corn ethanol fuel, but neither project came to fruition. Those projects were subject to conditional-use hearings, but review of the soybean plant will be less extensive because industrial zoning allows it as a permitted use on the property.
Citing the need for an improved city YMCA, officials announced plans Wednesday for a new $10 million facility that will be built just south of Susquehanna Health’s recent campus improvements.
“We can’t afford to keep this Y and continue to serve the community,” Jim Bower Sr., campaign chairman, told members of the community and potential donors at the announcement at the Williamsport Country Club.
The present YMCA building on West Fourth Street was constructed in 1923. Since then, it has seen numerous expansions and additions to keep up with needs of the community.