When Strata 13 was built on the northeast corner of 7th & Linden, Lanta reconfigured the bus flow to accommodate it. Actually, Lanta has been accommodating Reilly's NIZ since before the beginning. They started by relocating the bus stops off Hamilton, and herding the sheep to 6th & Linden. Actually, Strata 13 is called the Hive, but I call all Reilly's residential buildings Strata.
On Friday police raided the Hive, seizing a gun and marijuana. Reilly's City Center Real Estate has it own security force to protect the tenants. That seemed appropriate, especially with the infamous 7/11 across the street. After reading about the police raid, the question now is who is going to protect the street people from Reilly's tenants?
With us taxpayers footing Reilly's debt service, I always figured that Reilly would keep a unit empty rather than rent to the wrong element. I suppose with the housing storage, the do-gooders pressure him to make units available. At any rate, it appears as if the Hive is fitting into the neighborhood.
photocredit:WFMZ
The ‘unsavory element’ actually DOES have plenty of money enabling them to afford to live anywhere downtown. So, how’d they do it? They work nights and weekends!
ReplyDeleteThis story caught my attention as well. It was only a question of time.
ReplyDeleteCheck out today’s Morning Call article about the “theme park” style arch being installed at 11th. There was $350,000 “remaining” in NIZ sign money? Sounds like another inflated cost project. If JB is doing it, imagine what City Hall is doing? The deputy CED director says it will be “iconic” aa until someone smashes into it and knocks it down.
ReplyDeleteVote May 20th!!
It appears there is money burning a hole in someone's pocket.
DeleteI’m not a NIZ fan but this seems like a sad moment. The Hive itself seemed like an odd idea. I’d be interested in knowing if the idea of work downstairs/ live upstairs is really working. Unfortunately this shows that the neighborhood has caught up with the NIZ, but it also shows the flaw in planning rentals only. Condo ownership with a restricted number of rentals would have created a more stable group of occupants. Unfortunately the tax depreciation of rentals keeps the NIZ profitable beyond the rental fees.
ReplyDeleteWhat person in there right mind would purchase a condo in downtown Allentown anywho? This would be like wanting to lose money unpurpose this insider trading should be stopp immediately. The creation of this law was and still is a convolooted criminal act against the whole of Pennsylvania!
Deleteanon@9:21: The NIZ is a real estate scheme, which was designed to enrich a particular party, not Allentown. Condos involve separate, different owners, and is unrelated to the scheme's state income tax funding mechanism. The former PPL plaza is going Condo (not a NIZ project) The NIZ ironically made that building almost valueless as an office building. How viable condos will be in center city is questionable, with the surrounding reality, as noted in the post.
ReplyDeleteI am suprised the NIZ boundaries have not been extended east along Hamilton Street to the Lehigh River. That would link up the areas along the west bank of the Lehigh. As long as there is an incoming river of money, I don't see any end to it.
ReplyDeletePresumably it goes to 12th and Hamilton, stopping at the Library?
Somhow I see more NIZ and more NIZ without limits ....
The NIZ expires in 2042 absent new legislation, which seems unlikely. The days of issuing bonds to finance office towers and other big mixed-use development projects are over. It’s all small-to-medium-sized projects from here on out. Those aren’t worth the somewhat complicated process of swapping parcels in and out of the NIZ (by law, it needs to remain the same acreage).
DeleteBrent@11:31: The NIZ has a defined map, 5th to 10th, Walnut to Linden. The Morning Call and Sacred Heart Hospital parcels were included, although outside of those boundaries....Also the riverfront. Reilly was allowed to trade parcels within to expand farther west on Hamilton. Although the rules were written in pencil, essentially, Reilly owned or had options on most parcels within. (and Jaindl along river)
ReplyDeleteIf you want to see who is really living in the Strata (Reilly apartments), I suggest spending some time driving the alleys behind the buildings near the first of the month and looking for moving/pickup trucks.
ReplyDeleteThe people I’ve seen are not the upscale clientele that the Morning Call puff pieces like to tout. Most I’ve seen are regular-looking people that you’d expect to see downtown.
While I don’t know if some received government subsidies to move in there, I wouldn’t be surprised if that were the case.
Let’s pretend that the PPL tower will be viable housing.
ReplyDelete