One of the Lehigh Valley’s most significant developments recently celebrated the opening of its first building, and the others planned to follow.
Six Fifteen Waterfront, with 109,620 square feet of Class A office space and 14,813 square feet of retail space over six floors, is the first building completed in the 29-acre, $425 million lifestyle destination known as The Waterfront along the Lehigh River in Allentown by The Waterfront Development Co. 
The land is being redeveloped from decades of industrial use, providing public access to that stretch of the river.
The development will have a series of office and residential buildings with restaurant and retail space on the ground floors. At full build-out, The Waterfront will generate about $4 million annually in real estate taxes for the city, school district, and Lehigh County, said Mark Jaindl, President, CEO, and Co-Founder of The Waterfront Development Co., during a grand opening ceremony, held Oct. 11.
The Waterfront is also bringing jobs to Allentown and the Lehigh Valley, Jaindl said. More than 500 people have been working on the site, and about 400 people will work in the first building alone when it is fully occupied.
Six Fifteen Waterfront is about 50% occupied, Jaindl said, but he anticipates it will fill quickly, as there are strong candidates for the top floor. Floor-to-ceiling windows in the building offer sweeping views of the river.
“The other important part of this development is the quality of life it's going to bring to the neighborhoods,” Jaindl said, speaking from a 180-seat outdoor amphitheater on the riverbank that is a centerpiece of the project.
In addition to providing access to the water, it already includes a new three-lane road, Riverside Drive, that reduces traffic along the Front Street corridor. The half-mile River Walk is slated to be designated as part of the Delaware & Lehigh National Heritage Corridor, known as the D&L Trail.
Allentown Mayor Matt Tuerk and State Representatives Josh Siegel and Mike Schlossberg lauded the project and thanked The Waterfront Development Co. principals for their perseverance on the long-anticipated project.
“You did what we've been talking about for a really long time in Allentown. You unlocked the waterfront. And you took the first steps to make this waterfront truly accessible to all of the residents of the city of Allentown,” Tuerk said.
Zachary Jaindl, the company’s COO and Co-Founder, said the Lehigh River, which flows through Allentown, Bethlehem, and Easton, is a common element that ties the Lehigh Valley together. He said the river served the region well in its industrial age, providing a way to move materials and products, and it was primed for another opportunity that has now arrived.
“What we're really celebrating is a return to that river,” Jaindl said. “We're now able to come back in the form of new jobs and living opportunities.”
Siegel added: “As this waterfront transforms from a place of industry to one of innovation, it will create a new type of connection that can only be found in our city and can only be found in cities like Allentown. It's a vibrant, diverse, and lively ecosystem, a mixed-use district where ideas can flourish, new friendships can be created, partnerships can grow, and new businesses will form.”
Schlossberg said The Waterfront development “represents the perfect ideal of a partnership between the private and the public sector.”
The foundation, he said, is the Neighborhood Improvement Zone, a special tax district that encourages redevelopment and revitalization on designated parcels in Allentown.
“We are now seeing the fruits of this labor. The Waterfront is in its very initial stages right now. And there is no doubt that it is already something phenomenal. But it will continue to grow over time,” he said.
The Lehigh Valley has about 29 million square feet of office space, including more than 164,000 square feet that has been delivered so far this year. Another 22,175 square feet was under construction in the year's second quarter.
(Photos courtesy of The Waterfront Development Co.)