EASTON, Pa. — The Residences at Lynden, a seven-story condominium project planned for the growing Downtown, cleared another hurdle in the development process Monday night.
Developers behind the 73-unit condo project at 101 S. Third St. received concept approval, including general size, floor levels and general material types, for the condominiums during Easton’s Historic District Commission meeting.
The property at South Third and Ferry streets now holds a Fidelity Bank and is across Ferry Street from the new, 264-unit Marquis apartment building.
Further studies on some of the Lynden's subjects, including cornices, brick colors, stepping at the property’s west end, detailing of the garage entrance, and some other matters are required, the commission said.
However, the HDC seemed pleased with most of the concept and the readiness of the developer to work with city officials to ensure all regulations are being met.
“We're very confident this project is different than the other projects have been for you, because this is condos, it’s for-sale condos,” said Kevin Serfass of Serfass Development.
“So this is the first for-sale project in the Lehigh Valley in almost a quarter century. So we're taking a big risk. We think it's the right time. We're confident in it. So far, the interest has far exceeded our expectations for this early in the project.”
"We think it's the right time. We're confident in it. So far, the interest has far exceeded our expectations for this early in the project.”Kevin Serfass, Serfass Development
Serfass added developer Basin Street Industrial came in for concept approval earlier than usual due to the fact that “typically, most banks won’t let you break ground until you have 30% to 40% [of units] sold.”
The developer plans to set up a sales center within the city with experts on staff and samples of the materials which will be used in construction, hoping to entice more interest in the community.
Serfass said the team has already accrued “a pretty extensive list” of potential buyers.
Prices up to $750,000 per condo
Historic District Commission consultant Chris Ussler said the developer had been working with her on project necessities with the bulk of them being addressed, but one of the primary concerns had revolved around making the building its own distinct structure.
“This block that suffered unfortunate loss due to urban renewal, is now home to four large buildings and building complexes. They should each have their own character,” Ussler said.
Serfass and Matthias Fenstermacher, also of Serfass Construction Co., agreed. They said obtaining concept approval early would provide plenty of time for details to be discussed and approved with the Historic District Commission and other city government groups.
Basin Street Industrial aims to construct the 73-unit luxury condominium with prices of up to $750,000.
The first six stories will be brick-clad with industrial windows, and the top floor will feature a different material.
Plans include 15 one-bedrooms, 36 two-bedrooms, and 22 three-bedroom condos, with 2,542 square feet of commercial space for the project.
The first floor will feature 43 parking spaces for tenants, in addition to another 40 contracted spots in the nearby city garage. In September, Easton’s Planning Commission expressed concerns over those contracts and how they could be orchestrated and maintained.
County property records show Serfass, via Basin Street Industrial, purchased the property from Matador Hospitality LLC for $2.95 million on April 28.
