IS IT JUST ME?!
When driving up and down Route 22, I have noticed for quite some time that there are quite a number of vacant buildings to be rented.
When driving in downtown Bethlehem, Allentown, and even Easton, the streets are lined with empty buildings to be rented.
When driving one mile from my house down Emerick Boulevard by the Route 33 interchange, it is the same.
While I am, and always have been open to controlled development, both residential and commerical/industrial, maybe it is time to put a hold on these large industrial and office structures until they get some at least close to filling them.
In the paper within the past month, there was a large article of how a $14,000,000 project for "high-end" condos at the former Hotel Easton is just floundering and is struggling the same.
There is also the proposed 15 story hotel/retail/and of couse high-end condos in downtown Bethlehem, that is being pulled back to "only" 6 stories now. Not to pick on this particular property, but would you want to build it at all right now?
Or the new mall at the Route 33 and Freemansburg Avenue intersection? They have put fresh little shrubs and flowers for the past three years by a little sign, showing where its going, but there is no activity as of yet. Quite possibly they have seen the rest of our market and having second thoughts. This might be the best move out there right now and just wait it out a bit.
These builders who are trying to be the savior to the downtown districts and others in the outlying areas, are all having considerable problems and now these will sit, as the term they like to use being a "soft market". They have had some great results in all areas of the Lehigh Valley, but in typical reaction to a successful project they go overboard and then we have the current condition. To me, for this type property, the market has just "tanked" for now. But of course it will be back, but not for a while. I remember the late 80's and time heals the wounds.
Is it me? Let me know......
Inquiring minds want to know. ;-)
Meanwhile, with this heatwave, I am going out to start my lawnmower and show the snow blower, it (hopefully!) will not be needed THIS January!