EASTON, Pa. — A real estate development company focused on the revitalization of downtown Allentown has joined a project that would be the largest residential project in Easton's history and another mixed-use plan.
City Center Group, which recently took ownership of Easton’s Pine Street Garage on South Third Street, will begin demolition soon, with the intent to launch construction for the new facility in fall for a prospective spring 2025 opening.
- City Center Group is teaming up with Peron Development to develop and manage two new mixed-use residential and retail spaces in Easton
- The Marquis, a 400,000 square foot property, will feature 264 apartments, making it the largest residential project in the city's history
- The Confluence, a 250,000 square foot building, will host 180 apartments, in addition to 8,500 square feet of first-floor retail space and both public and private outdoor amenity spaces and parks
The new building, dubbed The Marquis, will encompass 400,000 square feet, with seven floors and 264 apartments.
The building will feature retail space on the first floor along Third Street, a green roof, and a 308-space parking deck serving both residents and the community as a whole.
“Now that we officially own the Pine Street Garage in downtown Easton, we can begin the process of redeveloping this aging parking deck into something that will better serve and activate the community — The Marquis,” City Center Group President J.B. Reilly said.
“We thank Mayor Panto and his entire team. They have been wonderful to work with.”
Adding The Confluence
City Center also announced a new joint venture with the Bethlehem-based Peron Development. The two companies have partnered on developing The Marquis in addition to The Confluence, a second mixed-use residential and retail space set in Easton.
“City Center and Peron both have strong track records of development in Allentown and Bethlehem. Having them combine forces for these two transformative projects for Easton is tremendous news. I’m excited to work with both groups to move these projects forward.”Easton Mayor Sal Panto Jr.
According to a release from City Center Group, The Confluence will be a 250,000-square-foot building featuring six floors and 180 apartments, in addition to 8,500 feet of first-floor retail space and both public and private outdoor amenity spaces and parks.
City Center Group and Peron Development will share capital, combine development, design and project management, and own and operate both Easton properties together.
In addition, the pair said they are exploring other development opportunities in the Lehigh Valley region.
“City Center and Peron both have strong track records of development in Allentown and Bethlehem,” Easton Mayor Sal Panto said.
“Having them combine forces for these two transformative projects for Easton is tremendous news. I’m excited to work with both groups to move these projects forward.”
Mutual admiration
Peron Development Chief Executive Officer Mike Perrucci said he admired the significant role City Center has played in the development of Allentown, and looks forward to further projects.
“Our teams complement each other very well, and we look forward to working together in Easton and throughout the Lehigh Valley."Peron Development Chief Executive Officer Mike Perrucci
“Our teams complement each other very well, and we look forward to working together in Easton and throughout the Lehigh Valley,” Perrucci said.
In turn, Reilly recognized Peron Development’s position as a leader in the regional industry for years.
“We share mutual respect, and our entire team is excited to kick off this partnership and grow it in the future,” Reilly said.
The announcements come at a pivotal time in which Easton is striving to provide additional affordable housing to accommodate current residents and attract new ones, while providing parking — a challenge considering the age and setup of the area.
City Center has been lauded as a champion for mixed-use development in Allentown, having injected more than $850 million in the city, with another $537 million in the planning and construction stages.
In 2017, the Downtown Allentown Revitalization District was honored with a Global Award of Excellence by the Urban Land Institute.
Peron Development a premier developer with projects in Pennsylvania and New Jersey, known for its BethWorks development, which converted the remains of Bethlehem Steel into an entertainment resort which draws 9 million visitors per year.
Peron’s portfolio includes $340 million of projects, including new apartments and medical office buildings to adaptive reuse restaurants.
