Back

Fortune Magazine Names Allentown One of Five Cities with “Up-and-Coming” Downtowns

By Colin McEvoy on July 20, 2015

Fortune Magazine identified Allentown as one of five U.S. cities with "up-and-coming" downtowns.

Fortune Magazine identified Allentown as one of five U.S. cities with “up-and-coming” downtowns.

The revitalization of downtown Allentown continues to draw national attention, including a recent endorsement from Fortune Magazine.

Fortune, one of the top business magazines in the country, identified Allentown as one of the top five cities with resurgent, “up-and-coming” downtown neighborhoods.

“One of the big stories of the past few years has been the striking resurgence of cities,” Leigh Gallagher, Fortune’s assistant managing editor, said in the three-minute video.

“It’s almost hard to remember the days of the 70s and 80s when crime in cities was rampant and when everyone was fleeing to the suburbs,” she said. “But while most people point to New York or Los Angeles or San Francisco as examples of this trend, it’s actually happening in cities of all sizes and in all corners of the country.”

Check out the full video on the Fortune magazine website or watch it below:

Gallagher notes that Allentown has come a long way since its reputation as a “classic story of rust belt decline,” noting the construction of the Renaissance Allentown Hotel, the PPL Center hockey arena, and more than $1 billion in planned office, retail, and luxury residential space.

She credited Allentown’s Neighborhood Improvement Zone (NIZ) tax district for the resurgence, as well as the desire among the millennials to live in cities. Other downtowns in the video include Cincinnati, Ohio; Louisville, Ky.; Kansas City, Mo.; and Des Moines, Iowa.

The more than $300 million Allentown Waterfront project has also received outside attention. The 26-acre mixed-use development alongside the Lehigh River was the subject of an article by Keystone Edge, one of Pennsylvania’s leading online publications about economic development.

In a story titled “A megaproject on the Allentown waterfront could change everything,” writer Samantha Wittchen discusses the venture by Jaindl Properties and Dunn Twiggar, which aims to turn former Lehigh Structural Steel land into Class A offices, market-rate apartments, first floor retail, and new restaurants alongside a newly-enhanced River Walk.

“Economic development and urban revitalization are never easy tasks, and what works well in one city may not work as well in another — each has its unique set of assets and challenges,” Wittchen writes. “But if The Waterfront can deliver as promised, it has the potential to become a case study in how to smartly redevelop ailing urban industrial waterfronts.”

Check out the full story at the Keystone Edge website.


Warning: array_shift() expects parameter 1 to be array, boolean given in /nfs/c09/h03/mnt/129157/domains/lehighvalley.org/html/wp-content/themes/401/includes/next_page.php on line 23
Truck Driving Programs Serve a Crucial Need in Lehigh Valley Workforce

“Eastbound and down, loaded up and truckin’, we’re gonna do what they said can’t be done.” These are the familiar lyrics echoed by Jerry Reed through the 1977 classic Burt [...]

Continue to Next Page

Lehigh ValleyQuick Facts

  • Industry Spotlight

    13.8% of Labor Force
    Employed in Professional & Business Services
    Q4 2016

  • By the Numbers
    $39.1 Billion

    Gross Domestic Product
    2016

  • Investor Spotlight
    City Center Lehigh Valley
  • Industry Spotlight

    9.8% of Labor Force
    Employed in Manufacturing
    Q4 2016

  • By the Numbers
    $3.44 Billion

    Exports
    2015

  • Investor Spotlight
    Air Products
  • Industry Spotlight

    1,504 Total Office Buildings
    Q2 2017

  • By the Numbers
    $57,510

    Median Household Income

  • Investor Spotlight
    PPL Electric Utilities
  • Industry Spotlight

    1,770 Total Industrial Buildings
    Q2 2017

  • By the Numbers
    24,400

    New Jobs Created Over Past 5 Years

  • Investor Spotlight
    National Penn
  • Industry Spotlight

    5.0% Industrial
    Vacancy Rate
    Q2 2017

  • By the Numbers
    658,477

    Population

  • Investor Spotlight
    Olympus
  • Industry Spotlight

    7.7% Office
    Vacancy Rate
    Q2 2017

  • By the Numbers
    342,493

    Labor Force

  • Investor Spotlight
    Lutron Electronics
  • Industry Spotlight

    17.2% of Labor Force
    Employed in Health Care & Social Assistance

  • By the Numbers
    5,073

    Technology Patents from 2000-2015

  • Investor Spotlight
    Mack Trucks
  • Industry Spotlight

    9.1% Increase in exports
    Among top 20 markets nationally in export growth

  • By the Numbers
    25.8 Million

    Total Office Inventory (Square Feet)
    Q2 2017

  • Investor Spotlight
    UGI
  • Industry Spotlight

    10.1% Industrial rent growth
    Second highest in the U.S.

  • By the Numbers
    115.5 Million

    Total Industrial Inventory (Square Feet)
    Q2 2017

  • Investor Spotlight
    NFI