The City of Allentown encompasses 17 square miles of diverse real estate, including manufacturing, industrial, commercial, and mixed-use space. Contact our business development department at 610-437-7610 for your specific needs.
Looking for available real estate in the Allentown and surrounding area? Click here…http://www.lehighvalley.org/find-a-site-real-estate-service/
Neighborhood Improvement Zone (“NIZ”)
Created by state law in 2009, the NIZ is special taxing district that encourages development and revitalization in downtown Allentown. The NIZ consists of approximately 130 acres in downtown Allentown and the new Riverfront district (the western side of the Lehigh River). All taxes generated in the NIZ (with the exception of school district and city taxes) can be used to pay debt service on any financed improvements within the NIZ.
How does the NIZ Work?
The NIZ financing is tied to the initial arena financing that financed the construction of the new ppl center, an 8,500 seat arena that will be the home to the Lehigh Valley Phantoms (Philadelphia Flyer farm team).
All potential NIZ projects must be geographically located within the NIZ zone and must go through a pre-qualification, application, and if approved, closing process.
- A new, or existing business must make an initial determination of the future incremental increase in tax revenue that will be generated in the NIZ as a result of the proposed improvement project.
- Work with a bank to determine the level of financing that can be used using this future tax revenue as collateral.
- Apply to the NIZ Authority (ANIZDA) for qualification of your proposed project.
- Build your project.
- Once in operation, the payment of your taxes associated with the project can go toward payment of the debt service on your project.
Don’t want to be a developer? No problem, the NIZ has generated several developers that can provide rent credits back to end users based on your business model. Space is available for retail, commercial, and restaurant use. Contact the City of Allentown today at 610-437-7610.
City Center Lehigh Valley:
City Center Lehigh Valley is a major mixed-use development that is helping transform downtown Allentown, Pennsylvania, into one of America’s most vibrant urban communities and a regional center of excellence for business, culture and metropolitan living. With Allentown’s future arena, PPL Center, at its core, City Center is developing three Class A office buildings, a full-service Renaissance Hotel, luxury apartments, upscale retail space and loft-style office space – an investment of more than $300 million – by early 2015. Over the next five years, City Center will invest a total of $500 million in downtown Allentown. Located in Pennsylvania’s Neighborhood Improvement Zone, City Center is able to offer highly competitive lease terms to businesses that choose to help revitalize the Lehigh Valley’s urban core. Visit www.citycenterlehighvalley.com to learn more.
Butz Corporate Center is an owner occupied office building with 22,000 sq. ft. of Class A office space available. Tenants have the option of working with our in-house architect to design a “state-of-the-art” space to fit their specific needs. Three restaurants occupy our first floor providing on-site options for employee and corporate dining and catering. Butz Corporate Center is located in the heart of the downtown at 840 W. Hamilton Street, please call 610-395-6871 for more information.
The Trifecta Building:
The Trifecta Building is a mixed-use 40,000 SF building located in the heart of Allentown at 612 Hamilton Street. The building is a retrofit of an early 20th century furniture store and warehouse that is being converted into loft-style class A office space. The building is named for its anchor tenant, Trifecta Technologies, whose company headquarters will occupy the top three floors of the building. The additional office consists of three 4,300 SF units on the 2nd and 3rd floors. The ground floor will feature a bistro style restaurant. Please email Jeff Brown at Jeff@charlesstreetcapital.com for more information.
Waterfront Development - The Waterfront is the only development site in the Lehigh Valley that provides panoramic water views and direct access to the Lehigh River. Nestled alongside the western bank of the river, the $275 million development will be a 26-acre mixed-use campus comprised of state-of-the-art office buildings, luxurious residences and a lively new restaurant and retail district. The Waterfront will also be a new place for the Valley to discover open space plazas brimming with events and vitality, a peaceful walking and riding path along the river, and a new way to reconnect with the water and the surrounding natural environment. http://thewaterfront.com/development/.
Keystone Opportunity Zones
Locating your project to a Keystone Opportunity Zone can provide several tax advantages to your project that make your job creating project more financially feasible. Businesses locating in or relocating to a KOZ must either increase their full-time employment by 20 percent within the first full year of operation or make a 10 percent capital investment in the property based on their prior year’s gross revenues. The Keystone Opportunity Zone in the City of Allentown is operated by the Lehigh Valley Economic Development Corporation. To learn more click here… http://www.lehighvalley.org/resources/incentive-programs/keystone-opportunity-zone-koz/
Benefits: Businesses that locate within a KOZ enjoy the waiver, abatement or exemption of certain state and local taxes.
Depending on the situation, the tax burden may be reduced to zero through exemptions, deductions, abatements and credits for the following:
State Tax abatement includes: Corporate net income tax; Capital stock and foreign franchise tax; Personal income tax; Sales and use tax on purchases consumed and used by a business in the Zone; Mutual thrift institution tax; Bank and trust company shares tax; Insurance premiums tax; Earned income/net profits tax; Business gross receipts; business occupancy; business privileged and mercantile tax; Sales and use tax on purchases consumed and used by a business in the Zone;
Property taxes: including school district; local real estate taxes.
Local taxes: Earned income/ net profits tax; business gross receipts tax; business occupancy tax; business privilege tax; and mercantile tax.
You are eligible if:
- You are a real property owner, business or resident who is located or has relocated into a Zone and has resided there for 184 consecutive days.
- You are a business relocating into a Zone you must either increase your full-time employment by 20 percent within the first year of operation or make a 10 percent capital investment in the property based on the prior year’s gross revenues.
- You are a resident or business and are compliant with all local and state taxes and building and zoning codes.
- You are a real property owner and are compliant with all local and state taxes and building and zoning codes.
- You make your annual application to the Pennsylvania Department of Community and Economic Development to receive these benefits.
Redevelopment of brownfield sites is the ultimate, sustainable land re- use strategy. Through partnering with Lehigh Valley’s Land Recycling Initiative and the Lehigh Valley Economic Development Corporation, we can help you develop, plan, finance, and implement a successful sustainable project on an Allentown brownfield site. For additional information, click here: http://www.lehighvalley.org/resources/incentive-programs/lehigh-valley-land-recycling-initiative/.
- Allentown Metal Works (Scott) (per email of 3-3-2014)
- Neuweiler Brewery (Scott) (see above)
- Adelaide Silk Mill Site (photo): The Adelaide Silk Mill building is located at 333 W. Court St., Allentown, PA 18101. The building was constructed in 1881 and operated as one of the world’s largest silk mills in the late 19th century and early 20th century. The property is located in a soon-to-be-redeveloped commercial area within easy walking distance of the City Center redevelopment area in downtown Allentown and Lehigh River Waterfront development.
The property is comprised of two buildings totaling approximately 235,000 square feet. The site is comprised of approximately 8.08 acres of land. The second building is a two-story brick structure of approximately 13,000 square feet located in the center of the U-shaped main building. Contact the City of Allentown for development opportunities.