Plans For $100 Million Allentown Building Move Forward

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

One of the newest major office buildings planned by developer J.B. Reilly moved forward another step tonight.

The $100 million Five City Center received conditional approval, one of several steps in the early stages of the City Center Lehigh Valley project. Plans for the building were announced in March.

No tenant has yet been identified for the 250,000-square-foot building, but construction could begin as early as mid-2015, City Center spokesman Jeff Vaughansaid. The building could be as many as seven floors tall.

Planned for Walnut Street between Seventh and Eighth streets, the building could serve up to 1,000 workers and will include a 1,078-space parking deck, which will include some underground parking.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/05/plans_for_100_million_allentow.html

National Penn Bancshares Holds Grand Opening At New Allentown Headquarters

Map of Pennsylvania highlighting Lehigh County (Photo credit: Wikipedia)

For the first time in nearly 35 years, a bank has established its headquarters in the city of Allentown.

More than 500 people today attended the grand opening and ribbon-cutting of National Penn Bancshares’ new headquarters in the 11-story Two City Center in the city’s downtown neighborhood.

Mayor Ed Pawlowski said it was more than simply a new business moving into the city but rather a showing of confidence in the ongoing revitalization of Allentown.

“We really appreciate the confidence you’ve put in us, and for bringing Allentown back to a central point for being a place of commerce and activity for the entire region,” Pawlowski told representatives of the bank.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/04/national_penn_bancshares_holds.html

National Penn Bank Supports The Arts In Pottstown

POTTSTOWN, PA – National Penn Bank recently presented ArtFusion with a $2,150 donation. The donation will help fund afterschool programs at the non-profit community art center. ArtFusion’s EITC-funded programs give children an opportunity to explore the arts, to express themselves in a new way and to learn that, while they may not be the best athlete, or get straight As in the classroom, they have a talent for creating.

The donation was made through the Pennsylvania Educational Improvement Tax Credit program (EITC).

EITC is a Pennsylvania program that provides tax credits to eligible businesses contributing an Educational Improvement Organization. Tax credits would be equal to 75% of a contribution up to a maximum of $400,000 per taxable year. This credit can be increased to 90% of the contribution, if a business agrees to provide same amount for two consecutive tax years. A business must apply for this program and then make a contribution to an organization that has also been approved.

ArtFusion 19464 is a 501(c)3 non-profit community art center located at 254 E. High St. in downtown Pottstown. The school offers day, evening and weekend classes to all ages. The goal of these classes is to help students develop their creative skills through self-expression and independence. ArtFusion’s gallery hosts rotating shows featuring local artists. The gallery also sells handcrafted, one-of-a-kind gift items.  The gallery is open Tuesday through Friday from 10am-5pm and Saturday 10am-3pm. The gallery is closed Sunday and Monday.

Check presentation. From left to right: Thomas Spann, National Penn Sunnybrook and Downtown Pottstown Branch Manager, Frank Strunk, National Penn Central Region Commercial Lender, Norah Cannon, ArtFusion Gallery Manager, Erika Hornburg-Cooper, ArtFusion Executive Director, Julie Tonnessen, ArtFusion Assistant Director, Carl Altman ArtFusion instructor and Kristen VonHohen, ArtFusion Pottery Studio Director.

National Penn Bank Says It Will Close Nine Branches, Cut Staff

After three years of stable operating expenses, and positive returns for investors in 2013, the owner of National Penn bank said this week it is cutting staff and consolidating nine branch locations.

“The consistency of our financial performance with such a strong return on assets is a tribute to the efforts of our entire team,” National Penn President and CEO Scott V. Fainor said in a statement.

National Penn Bancshares Inc.’s restructuring also includes previously announced plans to move its headquarters from Boyertown, Pa., to Center City Allentown.

Read more: http://www.lehighvalleylive.com/breaking-news/index.ssf/2014/01/national_penn_says_it_will_clo.html

Air Products To Set Up Shop In Downtown Allentown

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

Downtown Allentown has attracted a new tenant — one of the region’s nameplate companies.

Air Products of Trexlertown said Thursday it had signed a lease for space at Two City Center, the 11-story office tower being built on the site of the former First National Bank building at Seventh and Hamilton streets, across from the city’s new hockey arena.

The company — one of two Fortune 500 companies in the Lehigh Valley and the region’s third-largest employer with more than 3,600 local workers — expects to move its liquefied natural gas commercial and engineering teams to the building next summer.

“We feel locating these teams at this new development is a meaningful contribution and visible commitment to the revitalization of the city,” Air Products Senior Vice President John Stanley said in a news release.

Read more: http://www.mcall.com/news/breaking/mc-air-products-leases-city-center-space-20130808,0,7399771.story#ixzz2bXcxcx9L
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National Penn Bank Moving Headquarters To Allentown

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

Boyertown, PA – National Penn Bancshares Inc., the holding company that operates National Penn Bank, will move its corporate headquarters from Boyertown to Allentown and will build a new facility on Broadcasting Road in Spring Township, according to a company statement released this morning.

The new headquarters will be at Seventh and Hamilton streets in downtown Allentown, a Neighborhood Improvement Zone, and will house about 275 employees. It is scheduled to be completed in the spring of 2014.

Read more: http://readingeagle.com/Article.aspx?id=421290