Developers Secure Bond Financing

The Waterfront Development Company received approval from the Allentown Neighborhood Improvement Zone Development Authority (ANIZDA) for up to $70 million in tax-exempt bonds for the construction of the project’s first building and remaining infrastructure.

“Mark and Zachary Jaindl last week told the authority overseeing the Neighborhood Improvement Zone that construction of a 125,000-square-foot office building at 615 Waterfront Drive will begin before the end of the year and proceed over the next 18 months. They expect the first tenants to move in July 2022.”

The bond closed in February 2022, and construction on 615 Waterfront commenced shortly after. Construction is scheduled to complete in June 2022.

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