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Developers get an extra month to close sales of two NIZ projects

By Len Righi, WFMZ.com Reporter
Published On: Dec 18 2012 07:28:17 PM CST
ALLENTOWN, Pa. -

The developers of two downtown projects have each received an extra month to close their agreements of sale with the Allentown Commercial and Industrial Development Authority.

Authority members voted unanimously Tuesday afternoon to give the developer of the former Pioneer Building at 701 N. 8th St. until Jan. 31 and the developer of the former Schoen Building at 612 Hamilton St. until Feb. 28.

Authority executive director Scott Unger said a special use application from Pioneer Building developer Krishna Dev was given a thumbs down by the Zoning Hearing Board on Dec. 10. Unger said the zoners found the developer's request to have the building's first floor as a corner grocery "too intense" for the neighborhood.

Unger noted that when the Krishna Dev came to the authority with the project, one retail space and two office spaces were proposed on the first floor.

ACIDA has a conditional agreement of sale of $75,000 with Krishna Dev for former Pioneer Building.

Unger said he will likely hear whether the project will be amended or dropped after Krisha Dev gets a written opinion from the zoners.

Regarding the Schoen Building project, the developer, Charles Street Capital, is awaiting a decision on its funding application for a proposed restaurant and office space that has been submitted to the Allentown Neighborhood Improvement Zone Development Authority.

ACIDA conditionally approved a $250,000 agreement of sale with Charles Street Capital for the six-story building in late September.