Allentown Waterfront Project - Zach Jaindl
Zachary J. Jaindl currently serves as Chief Operations Officer of Jaindl Enterprises where he oversees both long-term and day-to-day operations, portfolio acquisitions and subsequent development renovation efforts, formulates and executes ongoing marketing strategies, and directly manages each of the company’s many departments. Zach studied both finance and marketing at Lehigh University where he began to establish a business plan centered around smart urban growth, the prevention of urban sprawl, and historic preservation through responsible renovation and redevelopment. Mark Jaindl and Zach Jaindl co-founded Jaindl Properties in 2011 and focused their strategy around the preservation of historic Lehigh Valley sites and landmarks, including The Waterfront project: a 1,000,000 square foot mixed-use development along the Lehigh River in Allentown, PA.
During his presentation Zach detailed the Waterfront project being built at the site of the old Lehigh Structural Steel plant in Allentown. Located in a Neighborhood Improvement Zone ("NIZ"), the redevelopment effort will increase the tax base by over $3.8 million and bring in an estimated 2900 jobs to Allentown. The site is spread over 26 acres along the Lehigh River. It will include retail space, office space, residential apartments and beautiful outdoor space with a Riverwalk and courtyard venues. Because of the project's location inside the NIZ, office space will be an affordable $10-12 per square foot. The importance of supporting the Allentown School District and continuing to improve it was also a highlight of the presentation.
Per the Waterfront website, below is a rendering view from the Lehigh River.
Jaindl Properties has also purchased land adjacent to, but not within the NIZ. Plans for this land were not discussed. But, it was revealed that the rail line on the adjacent land - extending from the Waterfront north into Whitehall - will be converted into a new road connecting the towns. The road will include walking and biking trails and is expected to alleviate a significant amount of traffic from the surrounding area. To view more renderings of the project click here.
Below is Zach Jaindl delivering his presentation to the Emmaus Rotary Club.
