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Former Hook restaurant in Allentown just sold for $1 75 million What s next for the property?
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Allentown Parking Authority, City Center ask to redevelop bus terminal using NIZ public improvement funds
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ALLENTOWN, Pa. â Two Allentown Neighborhood Improvement Zone Development Authority subcommittees heard proposed changes Monday afternoon on two previously approved projects.Â
The public improvement committee of ANIZDA approved to recommend a change in the credit funding facility to finance $2.8 million to reorganize and redesign the Allentown Transportation Center located downtown between Sixth and Seventh streets.Â
The authority will replace ESSA Bank and Trust as the provider of the credit facility for the bus terminal improvements, in addition to those slated for the downtown s center square, costing another $2.5 million. Â
According to City Center Investment Corp. President J.B. Reilly, ESSA expressed concerns, in light of the recent economic conditions, of overextending itself. It had also agreed to offer financing to two downtown parking garages â one at Seventh and Hamilton streets and a second on Maple Street behind the former Holiday Inn at Ninth and