Developers of The Waterfront, a 26-acre development planned for along Allentown's Lehigh River, expect the project to create more than 3,000 jobs and bring in more than $4 million per year in real estate tax revenue.
Yesterday, a partnership between Dunn Twiggar Company, LLC, Michael Dunn Co. Ltd. and Jaindl Properties LLC – known as Waterfront Redevelopment Partners LP, presented its master plan for the $250 million project to the Allentown City Planning Commission.
The developers termed the sprawling project greatly anticipated.
“Much of the excitement around this project comes from the public accessibility to and renewed appreciation of the Lehigh River,” said Michael Dunn. “When fully developed, The Waterfront will be a vibrant addition for Allentown and for the whole of the Lehigh Valley.”
According to the partners, the Waterfront will consist of 610,000 square feet of office space, 172 residential apartments, and 130,000 square feet of retail space along the Lehigh Waterfront.
Construction is expected to begin in 2014 with the first occupancy beginning in early 2015.