Students of this blog know that I have a hard time taking City Center Realty and their press agent, The Morning Call, as gospel when it comes to reporting the occupancy rate of the loft apartments. Somehow, I think that the unique benefits of the NIZ incentivize Reilly to keep building, and worry about finding tenants later. A recent article said that retail will follow after a critical mass of tenants is reached. In other markets, residential usually followed trendy retail. At any rate, the crime and violence will not help attract the elusive demographic which they seek.
The elusive Strata tenants sought are singles with white collar jobs, in or near Allentown. The Allentown school system is a very hard sell to any young family with children. Let us hope that our Strata singles do not hook up with each other too soon.
Interesting blog! My belief is that these young urban singles, will see the light, know that it is very cheap [in relative terms] outside of downtown Allentown, and move out after one or two years to the more affluent areas in the valley. Luxury apartments and condos are building at a fever pace! After all, who wants to walk 2-blocks either way and find themselves in a crime-ridden area filled with gangs, thugs and guns. We have an indicted mayor from Chicago, who thinks gangs, thugs and guns are normal living, and doesn't care about public safety. His junior varsity police administration and his beaten and subdued fire department and paramedics are proof of his non-commitment to public safety. But the people of Allentown have spoken and they choose to go on like this. Thank God we may be redeemed by the U.S. Department of Justice, for without them, Allentown will sink faster than the Titanic.
ReplyDelete"Crime-ridden area filled with gangs, thugs and guns." "2 blocks either way"?
DeleteWhere do you live!?
That's hardly a realistic description of the downtown area.
Does the Morning Call actually cite occupancy rates? Or does it use leasing rates? The numbers seem to not match, as many of the apartments may be leased, but a recent walk-by of the Strata seem to show that not many are actually occupied.
ReplyDeleteWhat I find curious is that many of the windows of the Strata have identical Christmas lights; almost if someone was told to decorate the windows and given a large number of lights to do so; all the lights being exactly the same and put up in the same way on each and every apartment.
People are individuals, and I find it curious that all of these independent minds of all of these residents all seem to decorate in exactly the same manner.
Oh well.. Maybe Reilly is dictating to the residents how they shall decorate at Christmas.
I live here. The lights were an option that were provided by City Center. Most people said yes and wanted balcony lights installed because it looks nice for the holidays. The animated lights on the corner of 6th and the Arts Walk were coordinated by all of the corner apartment tenants because we thought it’d be nice for the season. I’m one of them.
DeleteIt's true that young people generally are looking to rent in urban center cities,but only where they can work at well paying white collar job nearby. These do not ecust in Allentown. So I dont believe the hype about 100% occupancy rates either.
ReplyDeleteStrata Flats rents are at or above those of the similarly luxury apartments in the Route 100 corridor in Breinigsville and other towns on the immediate outskirts of the city. But rather than a Starbucks on the first floor and a drug store patronized by people who do not measure up the the Strata types the suburban apartments offer parking a few feet from your door, swimming pools and tennis courts, community recreation facilities, etc. No brainer for most. Also, every window has different Christmas decorations.
ReplyDelete"... people who do not measure up the the Strata types...."
ReplyDeleteOh please, sounds like someone's got a nose stuck up. I lived in Center City Philadelphia while I went to grad school. Reilleyville is one man's idea of what he can do with taxpayer's money to build a white utopia.. You can't build wealth renting or leasing someone else's property Get over being snowflake .
The more you pay in rent is not a measure of success in life, it's a measure of stupidity. Economics 101.
ReplyDelete"The more you pay in rent is not a measure of success in life, its a measure of stupidity". Economics 101. Sounds like a quote from an Ann Coulter Book. In their heyday in our history Julian Court, Cedar Beach Apartments, The Livingston , Regency Towers, The Lakes, Olympic Gardens and others too numerous to list were very high rent compared to other choices. When they were new they had their appeal and I dare say those that chose to live there for the most part were not stupid.
ReplyDelete