On Tuesday, City Center Allentown announced a new project expected to bring nearly 200 apartments to the city’s downtown.
The $25 million project, Cityplace, involves demolition of a former Holiday Inn at Ninth and Hamilton streets in downtown Allentown. Once demolition is complete, the company will build a new structure on the site of the hotel and a connected addition at Ninth and Maple streets.
“We are finishing up the demolition now and construction will begin in a few weeks,” said J.B. Reilly, president of City Center Investment Corp., the company financing the project.
In the space where the hotel sat, City Center will create a tower with 120 apartment units. It will also develop an addition to the building’s south side that will have 78 apartments surrounding a courtyard with an outdoor pool and fire pits.
Studios in Cityplace will rent for $750 per month, while one-bedrooms will fetch $950, he said.
The rates are lower than those in the company’s previous residential developments.
The company’s Walnut Street Commons development, for example, includes studios starting at $967 per month and one-bedrooms at $1,275.
“We wanted to be able to offer apartments that are more attainably priced, for younger people and some of the lower-paying jobs in Allentown,” Reilly said.
City Center will use Bernardon, the same architect it hired for Walnut Street Commons and its 520 Lofts apartments. The company is still in the process of finalizing its choice for a construction firm, he added.
Reilly expects the Cityplace project to be finished by the end of next year.
In addition to apartments, the building will contain more than 20,000 square feet of office, retail and amenity space on its first floor, he added. Other amenities will include a fitness center, co-working space, and a resident lounge.
The retail space will front Hamilton and Ninth streets. Residents will have access to the parking deck off Maple Street behind the building.
Once Cityspace is completed, City Center will have developed 650 apartments in downtown Allentown. Center Square Lofts, another City Center apartment project, will bring the total to 900, Reilly said.
“We think the demand is really strong,” Reilly said. “As the environment grows, we think there will be a need for more apartments.”