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Wealth management firm to build new home near Penn State Lehigh Valley

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(Contributed)
Workers demolish an old farmhouse in Upper Saucon Township to make way for a new home for Capital Wealth Management. The firm has an office suite at Stabler Corporate Center but will move to its new home next year.
(Contributed) Workers demolish an old farmhouse in Upper Saucon Township to make way for a new home for Capital Wealth Management. The firm has an office suite at Stabler Corporate Center but will move to its new home next year.

Capital Planning Wealth Management, which has an office suite at Stabler Corporate Center in Upper Saucon Township, will move to a new home a short distance from the office park.

The firm’s new home will be at the corner of Saucon Creek Road and Saucon Valley Road in the township, next to Swim-in Zone and across from the Penn State Lehigh Valley campus.

Workers for Speedwell Construction Inc. of Penn Township demolished an old farmhouse and will build an office building for the financial firm and an adjacent child care center for Kiddie Academy.

The firm has been in its office suite for 17 years, said Dave Bahnick, partner and co-owner of Capital Planning Wealth Management.

However, he said he was looking forward to getting the firm back to an equity position.

“It’s a good investment being able to control our rent and should be a good, long-term investment,” Bahnick said. “We built the building we are in in 2000 with four other partners and then sold the building.”

Jack Sullivan, co-owner and principal, said many of its clients come from referrals and the firm is looking at its new site to highlight the business.

“It’s an investment; it also gives us some identity in the community, visibility as a firm,” Sullivan said.

Sullivan said he and Bahnick own Saucon Creek Partners, the group that owns the pad where the office building is going up.

Joe Posh is the owner of the property where the child care center is going up, separated from Capital Planning’s new building by a parking lot.

Bahnick said the office building will be 11,000 square feet and the child care center will be 10,000 square feet.

The move required the firm to have a 1860s-era farmhouse torn down.

“We tried to repurpose it, but it just wouldn’t work,” Bahnick said.

Construction will begin shortly and the office building should be ready for occupancy by mid-February, Bahnick said.

The firm, which mainly offers retirement planning services, will occupy 6,000 square feet and is looking for a tenant for the remaining 5,000 square feet, he said.

Capital Planning has 10 employees with the capacity for growth, Sullivan said.

The office building will cost about $1.2 million to build and will be worth about $2.5 million once completed with improvements. The single-story building will offer easy access to the firm’s clients, Sullivan added.

Phillips & Donovan Architects, which has an office in Bethlehem and Bedminster, designed the office building.

The exterior will have stone walls on both ends and feature a standing seam metal roof, similar to a farmhouse roof. Overall, it will resemble a barn, Bahnick said.

“The fact that we’ve had a second generation family as wealth advisers, we see it as a way of building for the next generation of the firm,” Sullivan said.

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Brian Pedersen

Brian Pedersen

Reporter Brian Pedersen covers construction, development, warehousing and real estate and keeps you up to date on the changing landscape of our community. He can be reached at brianp@lvb.com or 610-807-9619, ext. 4108. Follow him on Twitter @BrianLehigh and read his blog, “Can You Dig It,” at http://www.lvb.com/section/can-you-dig-it.

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