Monday, January 23, 2012

Davison & McCarthy, P.C. is the First Tenant Signs at City Center Lehigh Valley

"Law firm Davison & McCarthy, P.C. has become the first company to sign a lease to become a tenant of One City Center, the $50 million Class A office that's part the mixed-use development being constructed on 7th Street between Hamilton and Walnut Streets in downtown Allentown, PA.

Davison & McCarthy will occupy up to 10,000 square feet of the five-story, 200,000-square-foot office and retail building that will include a 570-space underground parking garage. The firm's 13 employees will be among up to 700-plus workers who could occupy One City Center at its opening near September 2013, around the date Allentown's arena at 7th and Hamilton streets is scheduled to start serving as home to the Phantoms, the Philadelphia Flyers' top minor league affiliate.

Davison & McCarthy currently has nine lawyers and three paralegals.

Preconstruction site work for One City Center, including geotechnical testing and site surveying, began Dec. 10, 2011, with construction scheduled to begin this summer. The building will offer floors of up to approximately 40,000 square feet and will include amenities such as:

- connected parking beneath the building
- security and staffed lobbies
- Retail shops on the first floor and green space over the parking garage

The first phase of City Center Lehigh Valley includes flexible plans for up to 200 luxury apartments, a minimum of 250,000 square feet of Class A office space and 50,000 square feet of upscale retail space.

City Center is a project of City Center Investment Corp., a real estate development and management company based in Allentown and led by developer J.B. Reilly, who has owned the property for the One City Center building since 1999. With plans for future phases, City Center Investment Corp. bought several properties near the arena site in 2011, using a $20 million credit line provided by the Allentown Commercial Industrial Development Authority, which, through Neighborhood Improvement Zone legislation, will be at least partially retired using state and local taxes paid by City Center tenants."

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