300 Furnace Street

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Address: 300 Furnace Street, Emmaus, Pennsylvania, US
Created date: November 28, 2023
Date last updated: November 28, 2023

Property Description

Situated on Furnace Street off South 5th and Chestnut Streets, this is an approved redevelopment project to convert a blighted property into an upscale apartment community. The project consists of four mid-rise buildings housing 144 residential units and a 3,000-square-foot clubhouse with an inground swimming pool. The site is well located within the Borough of Emmaus and is within four blocks of the town center. Emmaus has extremely high barriers to entry given the lack of land left to build upon. This ±8.7-acre site lays out perfectly for a high-end apartment community. The land connects to a nature trail and a constructed wetlands area that could be utilized as a meditation garden for tenants. Surrounded by the picturesque Lehigh Valley, Emmaus offers residents and visitors alike ample opportunities for outdoor activities. Nearby South Mountain and the Ironton Rail Trail provide hiking and biking enthusiasts with scenic trails, while Emmaus Community Park offers a serene oasis for picnicking and relaxation. In addition, Emmaus falls within the East Penn School District, one of the top-rated school districts in the Lehigh Valley. The Furnace Street site is conveniently located near Routes 29, 222, and 309 as well as Interstates 476 and 78. The Lehigh Valley International Airport is a 20-minute drive, and transit/subway stations are about a 40-minute drive from the site. This location affords residents convenient access to the top employers in Allentown and Bethlehem. Additionally, the site is located off Chestnut Street, home to an array of cafes, restaurants, and retail stores, easily accessible by future tenants. Emmaus is a walkable neighborhood that is currently in a period of growth and expansion.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Land/Development
Price: $4,100,000
No. of Units: 144
Building Size: 184,000 Sq ft
Lot Size: 8.70 Acres
Opportunity Zone: No
Price per unit: $28,472
Address: 300 Furnace Street, Emmaus, Pennsylvania, US

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