One of the final industrial sites along the Lehigh River in Allentown has been purchased by a developer that is working on several projects in the immediate vicinity.<\/p>\n
Lehigh River Development Corp. VI LLC, a subsidiary of Urban Residential Properties, purchased 1 Pump Place for $16.2 million, according to Lehigh County property records.<\/p>\n
Urban Residential is working on several mixed-use developments along the city\u2019s riverfront, including four buildings with more than 1,000 residences that were presented Tuesday to the Allentown Planning Commission.<\/p>\n
The 11-acre Pump Place parcel includes a 200,000-square-foot warehouse and 11,000-square-foot office building.<\/p>\n
It\u2019s likely, though, that those structures will be seeing the wrecking ball. The land sits between Buck Boyle Park and The Waterfront, the mixed-use development being built by Jaindl Enterprises. It is also bordered by the river and Riverside Drive.<\/p>\n
John Palumbo, a partner with Urban Residential, told The Morning Call it\u2019s too early to determine what exactly will go there.<\/p>\n
\u201cThere\u2019s lots of possibilities,\u201d he said. \u201cOur hands are full with lots of planning right now.\u201d<\/p>\n
The project sits in Allentown\u2019s Neighborhood Improvement Zone, the city\u2019s unique taxing district.<\/p>\n
Nearby, Urban Residential is also getting closer to completion on the Neuweiler Lofts mixed-use project at the site of the former brewery.<\/p>\n
Industrial use for the site goes back more than a century, and the name of the street indicates what was manufactured there. Aldrich Pump Co. had a plant and headquarters there until it was purchased by Ingersoll-Rand in 1961<\/a>.<\/p>\n