Center City Allentown High-End Apartments Renting Far Faster Than Expected, Developer Says

English: View of Allentown City from east side

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

Developer J.B. Reilly has been building apartments for 25 years, but he’s never seen demand like he’s seeing now for his high-end apartments in Center City Allentown.

His company, City Center Lehigh Valley, announced Sept. 8 it was accepting deposits for 170 apartments in the under-construction Strata Luxury Flats at Four City Center. Two months later, almost half have deposits on them.

“I’ve been in the apartment development business my whole career and we’ve never experienced this kind of demand – even close to this kind of demand,” Reilly said Friday.

The interest in the apartments is tied to the new attention on Allentown’s downtown, Reilly said. In recent months, new restaurants, office space and a minor league hockey arena have opened, with Reilly leading much of the development.

Read more: http://www.lehighvalleylive.com/allentown/index.ssf/2014/11/center_city_allentown_high-end.html