Incredible Development Site with Approvals for a hi-rise in the Allentown Neighborhood Improvement Zone (NIZ). Located adjacent to the new Maple St Parking Deck and within a block of PPL Tower and 2 blocks of the new DaVinci Center and 10 new multi-million dollar redevelopment projects, the Landmark Tower was originally conceived and approved as a 34 story Class A tower with 7100 SF floor plates beginning on the 7th floor (based on air rights and approvals). The proposed development could qualify for tax credits as most taxes generated in the NIZ can be used to pay down debt service on financed construction improvements. More than $1 billion in investment has flowed into the NIZ because of these tax incentives. The buyer could build something smaller on the site, but is approved up to 34 stories. Offering Memorandum and development documents available upon request.
