Three new buildings with 110 apartments in addition to stores and offices along Bethlehem’s East Third Street got its first approval for the city’s powerful economic incentive Thursday.
The Bethlehem Revitalization and Improvement Authority voted unanimously to approve Greenway Commons as a qualifying project in the City Revitalization and Improvement Zone. The designation allows state and local nonproperty taxes from new businesses in the zone to help finance new development within it.
Developer BethWorks Renovations, which is headed by attorney Michael Perrucci, hopes to start construction on the two apartment-and-retail buildings in March, according to documents submitted to the authority Thursday. The 63,000-square-foot office building would be built once construction starts on a parking garage the Bethlehem Redevelopment Authority plans to build at Third and Fillmore streets, the documents say.