When Mark Mulligan saw how fast his new apartments in Easton’s former Pomeroy’s building were leasing, he started snapping up more city properties for more rentals.
Now more developers are jumping on board. In one week alone this month, three new apartment projects were announced in the Easton area, including a plan for 240 apartments at an abandoned industrial site in Palmer Township.
City Center Lehigh Valley is building 370 apartments in Allentown, 570 apartments have been approved along Freemansburg Avenue in Bethlehem Township and the long-stalled Dixie Cup factory renovation in Wilson Borough appears to be finally starting with plans for 250 apartments.
There’s no denying that the Lehigh Valley is in the midst of an apartment boom. But will there be a bust?
At least one Phillipsburg official is optimistic this will be the year the town finds a redeveloper for the former Ingersoll-Rand site, which has sat mostly unused for years.
John Lynn, who succeeds Todd Tersigni as town council president, said officials will be working diligently during the next three months to secure a developer for the more than 250 acres of property the town bought in December 2012.
“We have some things in the works and our goal is to have them come to fruition this year. We have a lot of interest, and we have a lot of options,” Lynn said after the meeting.
It started with concerned residents reaching out to police.
It ended with nearly two dozen arrests.
A recent drug crackdown in Phillipsburg and 10-day roundup of alleged dealers and users was a team effort, police Chief James Faulborn said last week. Community members relayed tips and information, authorities followed up with “basic police work” and nearby police departments offered a helping hand.
“It was a collaborative effort with us reaching out to the community and the community responding with information,” he said. “Working together with the community and other law enforcement agencies, we were able to execute search warrants and arrest warrants and take the necessary action.”
Census Bureau map of Lopatcong Township, New Jersey (Photo credit: Wikipedia)
Vacancy-plagued Phillipsburg Mall has been sold after nine months on the commercial real estate market.
Pennsylvania Real Estate Investment Trust announced Thursday it sold the mall for $11.5 million, giving the company a 9.8 percent capitalization rate on its investment. The buyer is Mason Asset Management of Great Neck, N.Y.
Mason owner Elliot Nassim said his company specializes in the redevelopment of malls. “We hope to bring some new tenants to the mall,” he said.
Blockbuster Video plans to shutter all but one of its remaining Lehigh Valley stores in the coming days, according to several sources.
The beleaguered movie rental chain plans to cease rentals as early as Monday, Dec. 26, at stores at 2221 Lehigh St., Allentown; 2918 William Penn Highway, Palmer Township; and 756 Memorial Parkway, Phillipsburg, according to employees who answered the store phones Wednesday.
Liquidations are planned to start next week, according to the clerks.