Apr 16, 2011
In real estate, an involuntary conversion is when your property is taken by no plan of your own. The merchants of Hamilton Street are facing an involuntary conversion.
molovinsky on allentown has learned that the city is buying up the square block between 7th and 8th, Hamilton and Linden Streets, for the hockey arena. The subsidized Farr building, a Pawlowski pet project, will be spared. Although offers they can't refuse are based on the fair market value of the real estate, their livelihood and right of free choice are being violated. These businesses are not only their income, but security for their family's future. Many years ago, the city zoning made me close a photo studio in the area of Raub School. I was told that if I wanted to be insured the right to operate, I should have located in the business district. There once was a covenant between Allentown and merchants. If the merchants invested their time and money, the city would provide a district which secured their investment. Several years ago the merchants were upset that the bus transfer stops were removed; Little did they realize that they would be next. If the Pawlowski Arena for Sports and Culture doesn't work out, we will have lost the business district for naught.
UPDATE: Apparently, some of these offers were made as an option to buy, with an undisclosed buyer. A local prominent realtor, is acting as a straw buyer , for either a speculator or the city. Threats of eventual eminent domain. with a lower price, have supposedly been made to encourage signatures.