The Waterfront Development Company announced today that it has recently agreed to purchase three and a half miles of railroad within the City of Allentown and Whitehall Township. The track, located on the western side of the Lehigh River, extends from Union Street near the America on Wheels Museum in the south to Pine Street in Whitehall Township to the north.
The acquisition will allow The Waterfront Development Company to work with local municipalities to establish a new roadway through Allentown and Whitehall Township. The new road, tentatively named “Riverside Drive”, will effectively provide drivers in this area a new approach through the nearby neighborhoods and improve access to The Waterfront and the city’s new Riverside District. The purchase also opens potential for future site expansion.
“We are thrilled that we were able to put this acquisition together. The additional property will not only enhance access to the entire Riverside District, it will provide an opportunity to unite two significant legs of the Delaware and Lehigh Rail Trail. The D&L Trails are comprised of over 165 miles of bike and walking paths serving residents throughout the Lehigh Valley.”
Mark W. Jaindl President | CEO
Waterfront Development Company is made up of Jaindl Properties, LLC, Dunn Twiggar Company, LLC and Michael Dunn Company LTD. The Company is redeveloping the former Lehigh Structural Steel Site, which consists of twenty-six acres within Allentown’s city limits, into a $300 million vibrant mixed-use campus to be known as The Waterfront. The development will be comprised of six brand new Class A office buildings, three apartment complexes, an energetic retail-lined main street and a half-mile signature River Walk. Phase I demolition will be completed shortly and site work is expected to begin in the next four months.
Mark W. Jaindl is an entrepreneur, developer, banker, and philanthropist. Mr. Jaindl started his career with his father in the family business, where he worked as Chief Financial Officer. In 1996, Mr. Jaindl founded American Bank., a $700 million commercial bank, where he continues to serve as President, CEO, and Chairman. In 2011, Mr. Jaindl co-founded Jaindl Enterprises, a vertically integrated portfolio of family-owned companies based in Allentown, PA.
In addition to his business ventures, Mr. Jaindl volunteers his time as a board member and leader of multiple nonprofits throughout eastern Pennsylvania, including Camelot For Children, America On Wheels, and Good Shepherd Rehabilitation.
Mr. Zachary J. Jaindl is a businessman and philanthropist responsible for establishing cross-company synergies and maximizing efficiencies through innovation. As Chief Operating Officer and Co-Founder of Jaindl Enterprises, Mr. Jaindl manages portfolio operations, real estate acquisitions, operations financing, project leasing, and general management of each division and their respective departments.
Since co-founding Jaindl Enterprises in 2011, Zachary has overseen each of the portfolio’s brands’ operational start-up, managed millions of dollars in real estate development and redevelopment efforts, and personally directs The Waterfront project: a $350 million lifestyle development along the Lehigh River’s western banks.