THE WATERFRONT PURCHASES 3.5 MILES OF RAILROAD
The Acquisition Will Allow For Better Access, Rejoin The North And South Legs Of The D&L Trail, And Open The Opportunity For Further Development.
ALLENTOWN, PA – February 3rd, 2015 – The Waterfront Development Company announced today that it has recently agreed to purchase three and a half miles of railroad within the City of Allentown and Whitehall Township. The track, located on the western side of the Lehigh River, extends from Union Street near the America on Wheels Museum in the south to Pine Street in Whitehall Township to the north.
The acquisition will allow The Waterfront Development Company to work with local municipalities to establish a new roadway through Allentown and Whitehall Township. The new road, tentatively named “Riverside Drive”, will effectively provide drivers in this area a new approach through the nearby neighborhoods and improve access to The Waterfront and the city’s new Riverside District. The purchase also opens potential for future site expansion.
“We are thrilled that we were able to put this acquisition together. The additional property will not only enhance access to the entire Riverside District, it will provide an opportunity to unite two significant legs of the Delaware and Lehigh Rail Trail. The D&L Trails are comprised of over 165 miles of bike and walking paths serving residents throughout the Lehigh Valley.”
Mark W. Jaindl President | CEO
Waterfront Development Company is made up of Jaindl Properties, LLC, Dunn Twiggar Company, LLC and Michael Dunn Company LTD. The Company is redeveloping the former Lehigh Structural Steel Site, which consists of twenty-six acres within Allentown’s city limits, into a $300 million vibrant mixed-use campus to be known as The Waterfront. The development will be comprised of six brand new Class A office buildings, three apartment complexes, an energetic retail-lined main street and a half-mile signature River Walk. Phase I demolition will be completed shortly and site work is expected to begin in the next four months.
Zachary J. Jaindl
Chief Operations Officer