Downtown Allentown could be home to another concert venue within the next few years.
The Allentown Parking Authority voted Wednesday to approves the sale of the Farr Lot property at 8th & Hamilton Streets to 8th Street, LLC, a partnership of Think Loud Development, LLC and GSE Realty, comprised of Butz family members.
"We are very excited about the opportunity to bring more jobs and opportunity to downtown Allentown," said Bill Hynes, CEO of Think Loud Development.
A proposal was submitted by Think Loud Development, in partnership with Alvin H. Butz, Inc., to the Authority in October. The proposal includes a concert venue, 60,000 square feet of office and retail space, and a restaurant. The project will be six levels, and will also include a private VIP lounge on the second level.
An agreement of sale and closing of the property is expected by July, according to the parties involved. Design work will be completed by the end of the year and construction is slated to begin in February of 2015.
Alvin H. Butz, Inc. will be constructing the building, with design work being handled by Roberson Butz Architects.