J.B. Reilly, the President and CEO of City Center Lehigh Valley, hosted the PSTD 300 class at his development sites in Allentown. Reilly pointed out the numerous construction projects that are set to mark a new phase in the revitalization of Center City Allentown. Just six years ago, Allentown’s downtown center was mostly composed of old and unoccupied buildings, but Reilly had a new vision for the city.
According to Reilly, City Center’s growth in Allentown is a result of several factors. One factor is the demographic shift and the preferences of millennials to live, work and socialize in urban areas. Another factor behind Allentown’s revitalization was the creation of a special tax zone by the Pennsylvania state government. This law allows City Center to return the state and local taxes paid by tenants to the property owners in order to encourage investments in the zone.
City Center has begun to build and lease out office buildings, apartments and construct public parks. The next project that Reilly’s company has begun construction on is a 24 story office complex that will be the tallest building between Philadelphia and Pittsburgh.