Aug 7, 2012
Monopoly Allentown Style
I reported how J.B. Reilly had plans to acquire the entire block on the south side of Hamilton Street. Two holdouts at this point have been both the jean and wicker stores on Hamilton Street, otherwise, his conquest has been on course. Recently, he closed on three buildings containing 16 units on S. 8th Street. I can tell you that neither the apartments, nor it's tenants, will give Mr. Reilly pride of ownership. What motivates him to become a reluctant landlord? Is this to be Four City Center? I don't think so, it will be challenging enough to rent his three other planned office buildings. We have been told that the NIZ was not specially designed for Mr. Reilly, and that other developers were welcome to apply. However, it's becoming apparent that they will have to buy their parcel from J.B..