Scranton Is A ‘Hot Commodity’ For Downtown Residential Housing

Scranton‘s financial house may be in disorder, but the downtown residential boom continues to build momentum.

More than $11.3 million in three ongoing developments will add 74 apartments to Central City by next summer.

“Scranton is a hot commodity,” said Charlie Jefferson, an investor in the $8.6 million redevelopment of the Scranton Chamber of Commerce Building at Mulberry Street and North Washington Avenue.

Scranton’s municipal government is facing a credit crisis and recently borrowed $6.25 million to cover short-term financial obligations.  City residents could face potential tax increases of 39 to 79 percent – or more – over the next three years.

Read more:  http://thetimes-tribune.com/news/scranton-is-a-hot-commodity-for-downtown-residential-housing-1.1377909

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