Development-Ready Investment Opportunities in Allentown, Pa., Discussed at Qualified Opportunity Zone Symposium
More than 200 developers and investors gathered for a symposium October 17 in what may be the nation’s hottest Qualified Opportunity Zone: downtown Allentown, Pennsylvania. ULI PHL cohosted the event, “The Next Step in Qualified Opportunity Zones: Development-Ready Investment Opportunities in Allentown,” with the City of Allentown and the Allentown Neighborhood Improvement Zone Development Authority.
“I think the level of interest and level of potential here is very unique to Pennsylvania and the nation,” said featured speaker Evan Weiss, director of PEL Analytics, who has served as an advisor on the formation of several early major Qualified Opportunity Funds.
Several panelists noted that downtown Allentown, which won the 2017 ULI Global Award for Excellence, is already in the midst of one of the most successful urban revitalizations in the country. The city has robust development underway, demonstrated market power and established momentum – all of which make it open and attractive to investors.
“Not every Qualified Opportunity Zone is equal,” said J.B. Reilly, president of City Center Investment Corp., downtown Allentown’s largest developer. “It really comes down to risk. Where can you invest your money, mitigate risk and make a return? Allentown has proven success and development-ready projects for investors large and small.”
View a video recap of the event and learn more at AllentownOpportunityZone.com.