The City of Allentown’s Neighborhood Development Zone is being recognized as one of the top 25 projects of its kind in the world!

The Urban Land Institute has named the NIZ one of the 25 finalists for its 2017 Global Awards for Excellence. The awards program is designed to “identify and promote best practices in all types of real estate development.”

This is not the first time the Urban Land Institute has touted Allentown’s success. In April 2016 the ULI recognized the city as one of six transforming communities across the United States.

The NIZ is a state legislature-approved one-of-a-kind tax district where all local and state tax revenues with the exception of real estate taxes can be used to pay for construction projects in the zone. It is centered on the PPL Center, a 10,000 seat hockey and concert arena on the northwest corner of Seventh & Hamilton streets. It has spawned $1 billion in new investment and brought thousands of jobs to the city.

“I am extremely proud that the Urban Land Institute has chosen to recognize Allentown with such selective company,” said Mayor Ed Pawlowski. “Being placed alongside other projects known around the world and domestic projects in places like New York City, Chicago, Houston and Miami is quite an honor.”

According to a news release from ULI, “the finalists were selected from an international jury made up of ULI members representing a multidisciplinary collection of real estate development expertise, including finance, land planning, development, public affairs, design, and other professional services.”

A group of winners will be named this fall.

The Urban Land Institute was established in 1936 and has more than 40,000 members worldwide.

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