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Projects of the Year Awarded by Lehigh Valley Commercial & Industrial Real Estate Foundation

Published Friday, October 13, 2023
by Paul Muschick

 

Seven Lehigh Valley developments were honored for the role they play in revitalizing their communities and advancing the region’s economy, by the Lehigh Valley Commercial & Industrial Real Estate Foundation.

The awards were presented Oct. 13 at a sold-out breakfast event that raised more than $180,000 to help hospitals and families care for children born prematurely or with serious medical needs. Over 30 years, more than $2 million has been raised. 

“You have to give back to your community, because even though we all here may compete with each other in our business world, we have a responsibility to take care of those who can't take care of themselves,” said Costas J. Hrousis, of Veraxia Commercial Real Estate Solutions, who was chair of the foundation committee.

The winning projects were:

Office: The Waterfront, a 29-acre neighborhood under construction along the Lehigh River in Allentown that will consist of five luxury office towers, four apartment complexes, restaurants and retail promenades, two outdoor plazas, and a half-mile River Walk, by The Waterfront Development Co.

Urban Renewal, Multi-Family: Easton Yards, a redevelopment of a factory abandoned for more than two decades, into modern apartments with a fitness center and lounge, by ASR Holding LLC.

Urban Renewal, Mixed-Use: Mill at Easton, a redevelopment of the blighted former Stewart Silk Mill site into affordable housing, a grocery store, and a full-service health clinic.

Hospitality: Wind Creek Bethlehem, which expanded its hotel and convention center. The $160 million investment doubled the number of hotel rooms and created the largest convention and entertainment venue in Northeastern Pennsylvania.

Industrial: Freshpet, whose $100 million renovation and expansion project required careful coordination with its existing operations. The project has temperature-controlled zones and production-driven design solutions, including a high-efficiency industrial ammonia refrigeration system, anti-microbial, skid-resistant floors, 900 tons of galvanized steel for corrosion protection, 33 highspeed dock doors, and pop-up ceilings to accommodate the scale of the equipment.

Transportation: Lehigh and Northampton Transportation Authority (LANTA), redesigned its Allentown Transportation Center to feature a central bus shelter pavilion that allows riders to make bus transfers without leaving the platform. Its undulating green roof captures stormwater to offset the impermeable pavement below. The center was developed through a partnership among the Allentown Parking Authority, LANTA, and the City of Allentown, and was funded through the Allentown Neighborhood Improvement Zone Development Authority’s Public Improvement Investment Program.

Higher Education: Penn State Lehigh Valley expanded its campus by 20,500 square feet with a full-service cafeteria, student programming spaces, and a new STEM wing. The cafeteria allows commuter students to stay on campus for a meal or to study, the STEM wing includes an organic chemistry lab with ample daylight, and the addition’s large windows reveal happenings inside and on campus.

Lehigh Valley Economic Development Corp. (LVEDC) was among the sponsors of the Lehigh Valley Commercial & Industrial Real Estate Foundation’s award breakfast, held at ArtsQuest Center at SteelStacks in Bethlehem.

(Photo by John Piascik of Bohler, courtesy of Lehigh Valley Commercial & Industrial Real Estate Foundation)

Tags:commercial real estate, News Releases, redevelopment, Success Stories