Experience Allentown: The Rising Residential Jewel of PA
Allentown, Pennsylvania is one of three cities in Lehigh Valley. As this region in Pennsylvania grows, Allentown continues its revitalization, which includes a tax incentive for developers. Due to this, developers are motivated and able to build Class A commercial and luxury residential while being able to charge Class B prices. Because of this, Allentown has added many new businesses and residents to the area, making it the rising residential jewel of the Commonwealth.
Bustling City
Right in the heart of Center City Allentown, at 7th Street and Hamilton, you can find a luxury event venue, named Vault 634, plenty of dining opportunities, local businesses, and the PPL Center. Nestled in these streets are apartments. When you travel west, you reach The Waterfront, which is a lifestyle destination in itself with dining, retail promenades, luxury apartments, Class A office space, and plenty of greenery to escape the concrete jungle.
Career Opportunities
With Class A office space being built, jobs are opening in Lehigh Valley. In 2012, when the Neighborhood Improvement Zone was introduced, the unemployment rate in Allentown was 8.3%. In November 2024, the unemployment rate was 3.6% (source) – that’s a 57% decrease! The Lehigh Valley is home to two Fortune 500 companies, and its GDP from 2023 was $55.7 billion (source). The Lehigh Valley was ranked as the top mid-sized market in America for economic development by Site Selector Magazine.
The Dining Scene
Allentown has restaurants for just about everyone! Notably, Nowa, a Mediterranean-American fusion restaurant is opening at The Waterfront. It will elevate dining expectations by blending premium ingredients, customer-centric service, and dynamic flavor harmonies. Headed by Chef Tyler Baxter, this restaurant will serve not only delicious food but also stunning river views from almost every seat. In addition to Nowa, there are small business-owned restaurants serving a plethora of cuisines and incredible dishes!
Endless Activities
Allentown and the Lehigh Valley always has something happening! With event venues like Vault 634 hosting Candlelight Concerts and larger venues bringing in top-tier talent, there’s a great variety of events. There are smaller community events, such as bingo, bar crawls, supper clubs, and more throughout the area with a quick search on ticketing platforms like Eventbrite or listed on Discover Lehigh Valley.
Tax Incentives
Allentown introduced the Neighborhood Improvement Zone, recognized as the NIZ, in 2012. The NIZ is a special taxing district created to encourage development and revitalization in center city Allentown and along the western banks of the Lehigh River. This is in effect until 2042 and affects 127 acres that span across the City of Allentown. Due to many new residential buildings being built within the district, developers are able to leverage the NIZ to build luxury spaces while renting at a lower cost than those not in the district. Essentially, you get luxury amenities at a non-luxury cost.
Thanks to special taxing districts like the NIZ, Allentown continues to be revitalized. With these incentives, many developers are ready to invest in Allentown and what the city brings to Pennsylvania. To the consumer, this gives Class A spaces at Class B prices, so it is a win-win. The revitalization has brought housing to an area that continues to grow, making it the rising residential jewel of Pennsylvania!