The developer obtained funding from the Environmental ProtectionAgency for testing, which has been completed, according to RyanDunn, a Dunn Twiggar principal. "We have the land under contract,and the city planning commission will review the project thismonth. Modification of existing zoning is critical," he says, "andour plan is to close on the land if and when our zoning overlayapplication is granted."

Mayor Ed Pawlowski has endorsed the project, as has LehighCounty executive Don Cunningham. The land owner is LSS Realty. Dunndeclined to disclose the price for the land, but says the all-incost of the Waterfront is estimated at $175 million, including theland cost.

The master plan, designed by Pittsburgh-based Burt Hill, callsfor 560 residential units in a mix of townhouses and for-sale condoand rental units, a 90-room hotel, 100,000 sf of office space and65,000 sf of retail. It also includes a marina, riverwalk runningthe full length of the complex, a central public plaza and a"restaurant row" with outdoor dining overlooking the river. "Themajority of the buildings will be four-story structures with two10-story ones anchoring the north and south ends of the site," Dunnsays.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.