— Jeff Ward, Lehigh Valley News Briefs
Lehigh Valley Industrial Park Inc. has acquired two South Bethlehem properties for $4.45 million.
The plan is not for an industrial site, but instead a mix of 120 market-rate and “affordable” housing units at the Szilagyi Fuel and Dancho properties at 1400-1414 E. Fourth St.
As announced by LVIP Chief Executive Kerry Wrobel last year, the “Gateway on 4th” will have two four-story buildings on East Fourth Street, with townhouses on East Fifth Street. The first floor of the East Fourth Street buildings will be commercial space.
The land is near the Bethlehem Greenway and the LVIP VII industrial park, and the Wind Creek casino.
LVIP’s statement in 2024 said the land, about four acres total, will be prepared for construction and development, then donated for the construction of housing. Those costs will be in addition to the price of the two properties.
In last year’s press release, LVIP said it would work with Philadelphia-based developer Pennrose to put up the housing in what the city calls its Eastern Gateway.
Affordable housing means different things to different people, but a federal standard is that “affordable” means a household spends 30% or less of its monthly income on housing, including utilities.
Below-market rate apartments require some bureaucracy to ensure eligibility standards are met and maintained.
Here is LVIP’s statement from April 2024:
Lehigh Valley Industrial Park, Inc. Announces $4 Million Community Investment —
New Affordable Housing to be Developed in Bethlehem —
Bethlehem, PA (April 10, 2024) — Lehigh Valley Industrial Park, Inc. (LVIP) a leading nonprofit economic development corporation, is proud to announce its plan to invest in excess of $4 million to support the development of new affordable housing in Bethlehem’s Eastern Gateway.
LVIP will partner with the City of Bethlehem and Pennrose, a Philadelphia-based affordable housing developer, to create the Gateway on 4th, a new mixed-income, multifamily development offering 120 housing units.
LVIP will acquire two industrial properties immediately adjacent to Lehigh Valley Industrial Park VII totaling four acres, complete the required environmental assessment and remediation of the parcels, and demolish buildings and structures; and then donate the properties to the Gateway on 4th development. LVIP’s total investment will be in excess of $4 million. Pennrose will construct and manage the housing units.
“LVIP has been aware of the pressing need for high quality, affordable housing in the region. When two properties near LVIP VII were made available, we immediately recognized the opportunity to collaborate with the City of Bethlehem on a major housing initiative,” said Kerry A. Wrobel, president & chief executive officer of LVIP. “Although housing is outside our typical focus, LVIP’s Board is thrilled to take a leadership role in helping the City deliver on the vision for the Eastern Gateway. This becomes another legacy project for LVIP that will have a profound impact on the Bethlehem community and the region for years to come.”
The Gateway on 4th will be located at 4th and William Streets in South Bethlehem.
About Lehigh Valley Industrial Park, Inc.
Lehigh Valley Industrial Park, Inc. is a private nonprofit economic development corporation located in Bethlehem, Pa. Since its inception in 1959, LVIP’s seven industrial parks in Northampton and Lehigh counties, PA have supported over 500 businesses and 24,000 employees while generating $1.5 billion in private investment.
For the last 23 years, LVIP has been focused on the redevelopment of 1,000 acres of the former
Bethlehem Steel flagship site in Bethlehem, Pa. Known as Lehigh Valley Industrial Park VII, LVIP’s current park has attracted 36 businesses while helping to create over 4,300 jobs. Private investment in LVIP VII has exceeded $650 million and resulted in over 6.5 million square feet of new construction.
For more information on LVIP visit www.lvip.org
Lehigh Valley News Briefs 