1 East Broad Street, Bethlehem, PA 18018
This development converted an underutilized surface parking lot to a tax assessable real estate investment. Through the use of the Northampton County’s LERTA (Local Economic Revitalization Tax Assistance program) ADC was able to phase in the increased real estate taxes due to the improvements over the course of 10 years – a direct savings passed on the tenants as an incentive to locate their businesses within the building. One East Broad Street is the newest addition to the streetscape of Bethlehem’s central business district, adjacent to its Historic District. The 86,000 square foot building contains Class A office space and 15,000 square feet of retail space. It is a new building designed in the Neo-classic style reminiscent of Lower Manhattan’s Tribecca Grand Hotel. The interior will be completed with ornate finishings to compliment the building’s grand exterior, creating a premier office address in downtown Bethlehem. ADC has attracted high-end business clientele to occupy the building which will have a ripple effect on area businesses.