Allentown’s Americus Hotel Revitalization Suffers Major Blow

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

A Tale Of Two Improvement Zones

ALLENTOWN, PA — In the center of this city’s downtown is a Civil War monument complete with a sailor, artilleryman, infantryman and a cavalry soldier.

It is very similar to the one in Lancaster’s Penn Square, but larger.

That’s fitting for a city with twice the population and twice the land area as Lancaster.

And for a city that has experienced proportionally larger swings of fortune.

Read more: http://lancasteronline.com/news/local/a-tale-of-two-improvement-zones/article_f8de6fa0-f277-11e3-8f19-0017a43b2370.html

Allentown’s Americus Hotel Project Advances, But Concerns Remain

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