New PPL Plaza owners detail plans for property improvementsNext article
May 29, 2019
Originally published by Jamie Stover at wfmz.com.
The PPL Plaza in Allentown is headed in a new direction and preparing for a new name.
The new owners invited media inside for a tour Wednesday after purchasing the property in a sheriff’s sale last month.
The building, though 16 years old, was way ahead of its time and offers a lot of modern features.
The biggest change up is the plaza. The new owners want to make it more of a communal space. The water fountains go, but they’ll add more places for people to sit and beef up entertainment.
The PPL Plaza has a spectacular lobby skylight, rooftop gardens and countless eco-friendly features.
The PPL Plaza building was sold at a sheriff’s auction to Somera Road for 16 million, a fraction of what it cost to build it. It most recently was home to Talen Energy, a PPL spinoff.
The owners aim to make the building once again attractive to tenants, who recently have gone for newer, cheaper builds thanks to the Neighborhood Improvement Zone.
The old PPL Plaza Is in the NIZ, and the new owners could be eligible for NIZ benefits for new improvements like upgrading the lobby and revamping the plaza space.
Ian Ross says there’s a lot of vendor interest in the vacant restaurant space, especially with 2,000 ADP employees soon to move in just down the street.
“A lot of vendors want to play into that and be accessible from a street front perspective,” Ross said.
About a half a dozen companies have already expressed interest in moving into the building.
“Companies are saying I want to be downtown,” Ross said.
The new owners aren’t naming those companies, but they say they expect tenants will start moving in by the end of the summer.