Allentown’s Americus Hotel Revitalization Suffers Major Blow

English: City of Allentown from east side

English: City of Allentown from east side (Photo credit: Wikipedia)

Plans to revitalize Allentown’s historic Americus Hotel have suffered a major blow that could set the project back multiple years, according to the hotel owner.

Albert Abdouche said financing for the $16.5 million renovation project has fallen through due to an Allentown authority’s hesitation regarding his plans.

As a result, Abdouche said he is no longer seeking to tap into the Neighborhood Improvement Zone, Allentown’s 127-acre special tax district, to finance the project.

Instead, Abdouche plans to make $1 million in improvements to the first floor with private money, then perhaps return to the Allentown Neighborhood Improvement Zone Development next year to finance the rest of the hotel renovations.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/09/allentowns_americus_hotel_revi.html

Allentown’s Americus Hotel Project Advances, But Concerns Remain

English: City of Allentown from east side

English: City of Allentown from east side (Photo credit: Wikipedia)

The revitalization of Allentown‘s Americus Hotel took another step toward reality today, but development officials want further assurances the project will actually be completed.

“We don’t want to have a project that’s going to fail,” said Sy Traub, chairman of the authority that oversees development in the city’s Neighborhood Improvement Zone.

“If we approve a project that goes belly up in the middle of it, and it’s a project in the middle of our city that’s going to sit vacant and stalled, then it’s going to be a real problem,” Traub said.

Developer Albert Abdouche appeared today before a Allentown Neighborhood Improvement Zone Development Authority committee with his plans for a revamped 11-story hotel at 549 Hamilton St.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/02/allentowns_americus_hotel_proj.html#incart_river

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Allentown’s Historic Americus Hotel Could Get NIZ Tax Help

The PPL Building (seen here in the distance) i...

The PPL Building (seen here in the distance) is the tallest building in Allentown, Pennsylvania. (Photo credit: Wikipedia)

Editor’s note:  This is great news! Revitalizing our Pennsylvania cities is important!

Vacant and dilapidated the past nine years, Allentown’s 12-story Americus Center Hotel got good news this week when the state decided the city can alter the borders of its downtown arena zone to include the historic hotel.

Any changes to the borders of its Neighborhood Improvement Zone, Pennsylvania Department of Revenue officials say, must be made before bonds are sold to fund the $220 million arena complex.

With the arena authority preparing to sell bonds next month, it means city officials will have to work fast, said Sara Hailstone, Allentown director of community and economic development.

“We will need to follow up with the Department of Revenue and work through the details,” Hailstone said. “This is a great opportunity for the city.”

Read more: http://www.mcall.com/news/local/allentown/mc-allentown-pa-arena-niz-20120819,0,6877859.story