144-Unit Multifamily Development Site

Fully Approved | 8.7 Acres | Lehigh Valley

Overview

  • Offering Price $4,100,000
  • Building Size 184,000+/- GSF
  • Apartment Units 144
  • Lot Size 8.7 +/- Acres
  • Parking Spaces 248
  • Rentable Area 148,320+/- SF

Situated on Furnace Street off South 5th and Chestnut Streets, this is an approved redevelopment project to convert a blighted property into an upscale apartment community. The project consists of four mid-rise buildings housing 144 residential units and a 3,000-square-foot clubhouse with an inground swimming pool. 

The site is well located within the Borough of Emmaus and is within four blocks of the town center. Emmaus has extremely high barriers to entry given the lack of land left to build upon. This ±8.7-acre site lays out perfectly for a high-end apartment community. The land connects to a nature trail and a constructed wetlands area that could be utilized as a meditation garden for tenants.  

Surrounded by the picturesque Lehigh Valley, Emmaus offers residents and visitors alike ample opportunities for outdoor activities. Nearby South Mountain and the Ironton Rail Trail provide hiking and biking enthusiasts with scenic trails, while Emmaus Community Park offers a serene oasis for picnicking and relaxation. In addition, Emmaus falls within the East Penn School District, one of the top-rated school districts in the Lehigh Valley. 

The Furnace Street site is conveniently located near Routes 29, 222, and 309 as well as Interstates 476 and 78. The Lehigh Valley International Airport is a 20-minute drive, and transit/subway stations are about a 40-minute drive from the site. This location affords residents convenient access to the top employers in Allentown and Bethlehem. Additionally, the site is located off Chestnut Street, home to an array of cafes, restaurants, and retail stores, easily accessible by future tenants. Emmaus is a walkable neighborhood that is currently in a period of growth and expansion. 

Key Facts

Approved 144-Unit Multifamily Development Site: Construct 144 Apartment Units on ±8.7 Acre Site

Exceptional Location: Walk to Town Center; Close to Parks and Recreation

High Barriers to Entry: Minimal Land Sites Available for New Construction
Top-Rated School District: Highly Rated East Penn School District

Convenient to Major Highways: Access to Routes 29, 222 and 309 as well as Interstate 78 and the Pennsylvania Turnpike

Proximity to Region’s Top Employers: Saint Luke’s Hospital, Lehigh Valley Hospital, ADP, Amazon, Wind Creek, Lehigh University & More

Team

Ken Wellar

Founding Partner
GREA
215-454-2879
610-745-4800

Luke DeLuca

Director
GREA
215-989-4440
646-712-7360

Corey Lonberger

Founding Partner
GREA
215-454-2878
267-760-3726

Douglas Emrich

Associate Director
GREA
215-454-2889
610-733-8482

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