When
molovinsky on allentown began almost five years ago, I used to say that
It's good to be Butz, I must now add,
but it's better to be J.B. Reilly. In
today's Morning Call we learn that "under Allentown's arena block master development agreement, if City Center determines a hotel is not feasible, it could build apartments or offices instead." That is news to me, and as a blogging naysayer I'm more informed than most. All state taxes in the 130 acre NIZ will be going to pay for the arena complex. Reilly will own from the second floor up on two portions of the complex, one on Hamilton Street, the other on 7th Street. Lehigh Valley Hospital will the the tenant on the Hamilton portion, while the 7th Street side may well now be apartments instead of a hotel. Reilly is also building apartments on the other side of 7th Street, at the Linden Street corner. Although I have no background in office development, I do know the apartment market. No upscale apartment development in center-city has ever met it's target demographic without substantial subsidy, and then only with limited units. There are not enough Yuppies in Allentown to occupy the current supply of loft apartments, much less without Reilly's new apartments. Perhaps he can use his influence with Lehigh Valley Hospital for a clandestine Yuppie cloning laboratory.
Reprinted from January 2013. Since the Morning Call has taken upon itself to promote the NIZ, as a public health service, this blog will conduct reality testing.
Happy holidays Mike. Thanks for all you do in keeping us informed of those pesky things called "facts" and "details."
ReplyDeleteThe Banker
banker@10:22, i would like to thank you and all my regular and new readers for your viewer-ship. i would also like to clarify for new readers that along with everybody else, i'm rooting for center city's (and city center's) success. that said, i believe that the transition benefits from some scrutiny, sadly missing from the local MSM.
ReplyDeleteI came as a Yuppie or Buppie to Allentown almost 10 years ago and the cultural diversity and nightlife was lacking for the urban sophisticates. We had to go to NYC, Philly, or NJ in order to obtain the vibe, atmosphere, and lifestyle needs young professionals with extra time and spending money desire. Unfortunately, evem with all the billions spent, not much has changed. Until it is realized that culture, vibe, and sphistication must be cultivated not invented, all is lost. - Alfonso Todd
ReplyDeleteMM,
ReplyDeleteNice article on the facts and figures of this yet another edited out newsworty weekend? I was wishing anthing would be cloned that would make allentowns atmosphere as deabilitating as it truely is for so many other than the downtown reciepiants?
Now WFMZ is selling the same bag of false goods as the mornin gag, 1000 jobs produced? Are they family life sustaining jobs or are these the same jobs of the same old circus acts?
redd
patent pending
It is hard not to look at that building and think - plywood flats. I have to wonder if that type of construction will last 30 years?
ReplyDeleteIt's going to last as long as it takes for the next big, gaping sinkhole to open up underneath it.
ReplyDeletehahahahahhahaha
Keep Dreaming