BETHLEHEM TOWNSHIP, PA–Two large private real estate companies from New Jersey have begun work on Madison Farms, a mixed-use development here that will eventually include 837 residences.
KRE Group and The Silverman Group have designed the Lehigh Valley development to exist as a “neighborhood,” according to the developers.
The first phase of the project includes 294 rental apartments and 123,000 square feet of retail space. A ShopRite grocery store and additional retail is expected to open by the first quarter of 2015. The rental units are expected to open by the third quarter of 2015.
A mix of single-family homes, townhomes and carriage homes are to be added in later phases of the project. A variety of dining establishments, shops and convenience stores are planned for the retail space.
“Throughout the planning process we placed a keen focus on designing an environment that would cultivate a community and neighborhood feel,” said Jonathan Kushner, president of KRE.
In that vein, 35 acres of the 100-acre Madison Farms property is set aside as open space, and a series of gazebos, small neighborhood parks and ponds will dot the landscape, according to Kushner. Walkways and bicycle connections will be placed to allow residents easy trips to the retail village and nearby public recreation facilities and schools.
Bethlehem Township Board of Commissioners' president Paul Weiss said Madison Farms is a highly-anticipated project, and the Township is pleased that is is “well-thought-out.”
The site is pn Freemansburg Avenue near the crossroads of Highway 33 and Interstate 78, just two highway exits from the New Jersey border, and is approximately an hour from Manhattan.
The mixed-use project will be the third development in the Lehigh Valley for the KRE Group, and the second for The Silverman Group.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
