What The Waterfront does

The Waterfront is a 29-acre mixed-use riverfront district on the western bank of the Lehigh River in Allentown, Pennsylvania, developed by The Waterfront Development Company, part of the family-owned Jaindl Enterprises. The district redevelops a former Lehigh Structural Steel brownfield site into an integrated portfolio of Class A office space (~120,000 SF at 615 Waterfront), 500+ planned luxury apartments across multiple buildings (River House at 201 units, Stone Hall at 157 units, plus 85 for-sale townhomes), ~50,000+ SF of ground-floor retail and restaurant space, and public amenities including the half-mile River Walk, Kift Square, the South Amphitheater (~200 seats), and the North Lawn. The development is supported by the Neighborhood Improvement Zone (NIZ) tax structure, authorized through 2042, which redirects state and local taxes to finance the project and enables competitive Class A rents.

The underlying technology is rooted in sustainable infrastructure engineering and brownfield remediation rather than software. Differentiated physical features include advanced HVAC air filtration, touchless keycard access, daylight harvesting with photometric sensors, stormwater cooling ponds that protect the Lehigh River from thermal discharge, a living green wall in the building lobby, and stormwater management integrated into the Riverside Drive corridor funded by a $21.158M federal RAISE Grant.

The company generates revenue through multiple recurring and one-time streams: long-term office leases at 615 Waterfront, monthly residential rents at River House, ground-floor retail and restaurant leases, parking fees across multiple structured lots, for-sale townhome transactions, and ancillary event and programming activity. Commercial tenants include a mix of professional services firms, government agencies (Lehigh Valley Planning Commission), and growing regional businesses, sourced via direct enterprise leasing, broker relationships (CBRE events), and on-site leasing offices. Residential leasing is direct-to-consumer through the leasing office and online portals. The district is positioned as a flagship of the Allentown NIZ and is targeting a full build-out of ~2,800 permanent jobs and ~$4M in annual tax revenue, up from ~$120K when the property was underutilized industrial land.

Name

The Waterfront

Legal name

The Waterfront Development Company

Website

https://thewaterfront.com

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

The Waterfront is a 29-acre mixed-use riverfront district developed by The Waterfront Development Company (Jaindl Enterprises) in Allentown, PA, offering Class A office space, 500+ luxury apartments, 85 townhomes, and ground-floor retail and dining along the Lehigh River, financed through the NIZ tax structure.

Ownership category

akta.pro rank

Headquarters

HQ city

Allentown

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Office Space Leasing: The Waterfront Development Company leases Class A office space (615 Waterfront) to businesses and organizations. 615 Waterfront offers approximately 100,000 SF of office space across floors 2-6, with floor plates of ~20,000 SF. Tenants include professional services firms, government agencies, and growing companies. The NIZ tax structure enables competitive base rents compared to other Class A markets in Pennsylvania.
2. Residential Apartment Leasing: River House offers 201 units of apartments (studios, one-bedroom, two-bedroom) at 30 East Allen Street. Residents pay monthly rent. The building includes ground-floor retail space (~5,000 SF cafe), a fitness center, coworking lounge, pool, and other amenities. Phase Two adds Stone Hall (157 units) and additional apartment buildings.
3. Townhome Sales: The development includes 85 luxury townhomes as for-purchase residential units, providing a one-time transaction revenue stream at point of sale.
4. Retail and Restaurant Space Leasing: Ground-floor retail and dining spaces totaling approximately 50,000+ SF are leased to restaurateurs and retailers. Notable tenants include Nowa (Mediterranean-American restaurant by Chef Tyler Baxter) on the ground floor of 615 Waterfront, and Vibe Power Yoga. The riverfront promenade provides pedestrian-facing retail frontage.
5. Parking Revenue: On-site surface and structured parking includes Waterfront Drive (~60 spaces), Steel Lot (219 spaces), River House Lot (87 spaces), and Brick Lot (151 spaces). Parking is available to office tenants, residents, and visitors for a fee.
6. Event and Programming Revenue: The district generates activity through programmed events (summer concerts, yoga sessions, farmers markets, food trucks, Third Thursday events) in public spaces including Kift Square, South Amphitheater (~200 seats), and the North Lawn. These events drive foot traffic to dining and retail tenants.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

The Waterfront is a 29-acre mixed-use riverfront district developed and operated by The Waterfront Development Company (part of Jaindl Enterprises) on the western bank of the Lehigh River in Allentown, PA. It develops, leases, and sells Class A office space (the 615 Waterfront building with approximately 120,000 SF), luxury multifamily apartments (River House with 201 units, with Stone Hall and additional buildings planned for 500+ units total), 85 for-sale luxury townhomes, ground-floor retail and restaurant space, and public amenities including a half-mile River Walk tied into the D&L Trail. Revenue is generated through recurring office and apartment leases, retail/dining leases, parking, townhome sales, and event/programming activity within the district.

Product overview

The Waterfront is a 29-acre mixed-use riverfront district on the western bank of the Lehigh River in Allentown, PA, developed by The Waterfront Development Company (part of Jaindl Enterprises). The district offers a unified portfolio of residential and commercial products: River House (201-unit luxury apartment building with studio, one-bedroom, and two-bedroom units), 85 for-purchase luxury townhomes, 615 Waterfront (six-story Class A office building with ~100,000 SF office space and 20,000 SF ground-floor retail/dining), anchor tenants including Nowa Mediterranean-American restaurant and Vibe Power Yoga studio, and public amenities including the half-mile River Walk, Kift Square plaza, South Amphitheater (200-seat venue), and North Lawn. The district is built around wellness, sustainability, and reconnecting Allentown to its riverfront, with plans for additional phases expanding residential and commercial offerings.

Differentiator

Problem solved

Functional benefit

Brands

• River House: 201-unit residential apartment building at 30 East Allen Street offering studio, one-bedroom, and two-bedroom apartments with riverfront views and luxury urban industrial finishes.
• 615 Waterfront
• Nowa

Products and services

• 615 Waterfront (Class A Office Building) A six-story Class A office building offering roughly 100,000 SF of leasable office space on floors 2-6 plus 20,000 SF of ground-floor retail and restaurant space. Targets professional services firms, healthcare organizations, government agencies, insurance firms, and growing companies seeking riverfront Class A space with executive verandas, Wellness+ amenities, building concierge, and direct River Walk access.
• River House (Luxury Apartments) A 201-unit apartment building at 30 East Allen Street offering studio, one-bedroom, and two-bedroom apartments with luxury urban industrial finishes and Lehigh River views. Includes attended lobby concierge, fitness center, coworking space, rooftop deck, pool, dog park, kayak/bike storage, and direct River Walk access. Targets professionals, couples, and small families seeking riverfront apartment living in the Lehigh Valley.
• 85 Luxury Townhomes For-purchase luxury townhomes planned as part of the residential portfolio at The Waterfront, supporting the 18-hour neighborhood concept. The 2026 updated master plan increases the for-purchase residential component, targeting upper-middle-income buyers seeking walkable riverfront living within a master-planned mixed-use district.
• River Walk and Public Riverfront Amenities A half-mile River Walk promenade along the western bank of the Lehigh River that connects every building on the site and ties into the 165-mile Delaware and Lehigh (D&L) Trail. The district also includes Kift Square (open-air plaza for farmers markets, yoga classes, and gatherings), the South Amphitheater (open-air ~200-seat venue for performances and live music), and the North Lawn (two acres of open green space). Targets residents, office workers, and visitors as a free public amenity supporting foot traffic to dining and retail tenants.
• Ground-Floor Retail and Restaurant Leasing

Quantifiable outcome

• Full build-out projected to generate approximately $4 million annually in tax revenue for the city, school district, and Lehigh County (up from ~$120,000/year when the site was underutilized industrial land)
• +5 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Urban Design Associates (UDA)coreStrategic or Co-development Partner · 1 January 2025In 2025, The Waterfront Development Company selected Urban Design Associates (UDA), a Pittsburgh-based planning and urban design firm with 60+ years of experience in mixed-use, waterfront, and downtown districts, to lead a comprehensive update to the master plan. UDA conducted market studies, physical modeling, height and massing studies, and community workshops with residents, city leadership, local businesses, and regional partners to produce the 2026 updated master plan.
• Nelson Architects (Philadelphia)coreImplementation/ SI/ Consulting Partner · 1 January 2023Nelson Architects of Philadelphia designed 615 Waterfront, the six-story Class A office building. The firm designed the building to maximize natural light and direct river views, with a two-story lobby mapping the site's topography and a living greenery wall.
• High Construction (Lancaster, PA)coreImplementation/ SI/ Consulting Partner · 1 January 2023High Construction of Lancaster built 615 Waterfront. The general contractor delivered the six-story Class A building, completing construction in March 2023 ahead of the October 2023 grand opening celebration.
• Serfass Construction (Allentown, PA)coreImplementation/ SI/ Consulting Partner · 1 January 2023Allentown-based Serfass Construction built tenant spaces at 615 Waterfront, including the Lehigh Valley Planning Commission's 9,100 SF office suite and Jaindl Enterprises' 9,400 SF headquarters suite. The firm has been a consistent construction partner for tenant fit-outs in the building.
• Lehigh Valley Planning CommissioncoreStrategic or Co-development PartnerThe Lehigh Valley Planning Commission led the regional public-private partnership that secured the $21.158M federal RAISE Grant for Riverside Drive. LVPC also serves as a tenant, occupying 9,100 SF on the second floor of 615 Waterfront including a public meeting room. LVPC's role as both funding partner and anchor tenant reflects deep integration with the district.
• City of AllentowncoreStrategic or Co-development PartnerThe City of Allentown worked with The Waterfront Development Company to build Riverside Drive, realign major entry/exit points, and designate the Lehigh River waterfront as a top redevelopment priority. The city granted approvals and coordinated infrastructure. Mayor Matt Tuerk has publicly celebrated the project's role in unlocking waterfront access.
• Whitehall TownshipminorStrategic or Co-development PartnerWhitehall Township is part of the public-private partnership for the Riverside Drive project, which extends from Allentown into Whitehall Township. The roadway project connects economic centers across municipal boundaries.
• LANtaminorStrategic or Co-development PartnerLANta (Lehigh and Northampton Transportation Authority) joined the public-private partnership supporting the Riverside Drive multimodal corridor project, contributing to regional transit and transportation infrastructure.
• Delaware and Lehigh (D&L) Trail / National Heritage CorridorcoreStrategic or Co-development PartnerThe Waterfront Development Company purchased 3.5 miles of rail line in 2015 and worked with the D&L Trail executive team to close gaps in the trail network and strengthen connectivity along the river's west bank. The adjacent walking and biking path connects to the 165-mile D&L Trail, closing a missing link in the regional network. This partnership provides direct trail access for district residents and tenants.
• Wildlands ConservancyminorStrategic or Co-development PartnerWildlands joined the public-private partnership supporting the Riverside Drive multimodal corridor project, contributing to regional environmental and conservation efforts connected to the Lehigh River.
• Bernardon (Architectural Firm)coreImplementation/ SI/ Consulting PartnerBernardon designed tenant spaces at 615 Waterfront, including Jaindl Enterprises' headquarters suite and Miers Insurance's office space. The firm's designs featured glass walls with black mullions, brick accents, exposed ceilings, and modern industrial aesthetics aligned with the district's brand.
• 4/4 ArchitecturecoreImplementation/ SI/ Consulting Partner4/4 Architecture designed the Lehigh Valley Planning Commission's 9,100 SF space on the second floor of 615 Waterfront, including a public meeting room overlooking the river that seats up to 100 people.
• Outside MagazineminorGTM or Marketing PartnerOutside Magazine featured The Waterfront in its feature 'How to Create the Perfect Waterfront,' citing the district as an example of a waterfront done right. The editorial placement provided national media exposure and credibility for the project's design approach.
• CBREminorChannel Partner/ Reseller/ DistributorCBRE hosted a broker event at The Waterfront, bringing commercial real estate professionals to tour 615 Waterfront and the district. Such broker events generate tenant referrals and expand the reach of the leasing team to prospective office tenants.

Scale indicators11 records

Recent moves20 records

Expansion highlights11 records

Broad incumbents

• Cousins Properties: NYSE-listed Sunbelt-focused Class A office REIT (NYSE: CUZ). Comparable as a Class A office landlord in tier-one submarkets, though operating a portfolio rather than a single mixed-use district.
• Highwoods Properties: NYSE-listed office REIT (NYSE: HIW) operating Class A office properties across the Southeast. Comparable as a Class A office landlord, though without the mixed-use or waterfront development overlay that defines The Waterfront.
• Brookfield Properties: NYSE-listed global real estate developer/operator with large mixed-use and office portfolios (Manhattan, Toronto, London). Comparable as a broad incumbent in mixed-use development, though operating at substantially larger scale and broader geography than The Waterfront.
• Howard Hughes Holdings: NYSE-listed master-planned community developer (The Woodlands, Howard Hughes Medical Institute campus, Bridgeland, Summerlin). Comparable as a large-scale master-planned mixed-use developer creating walkable districts from raw land, though operating at substantially larger scale.

Direct peers

• Brandywine Realty Trust: Philadelphia-based publicly traded REIT (NYSE: BDN) developing and operating Class A office and mixed-use properties across the Mid-Atlantic, including Pennsylvania. Directly comparable as a Pennsylvania-focused office and mixed-use developer with similar amenity-rich positioning.
• National Real Estate Advisors: DC-based institutional mixed-use developer building large-scale urban and TOD projects. Comparable as a mixed-use developer integrating residential, office, and retail into single districts with sustainability and wellness narratives similar to The Waterfront's positioning.
• Steiner + Associates: Columbus, Ohio-based private developer best known for Easton Town Center, a destination mixed-use district. Highly comparable as a developer of amenity-rich mixed-use districts combining retail, dining, office, and residential in a single walkable master plan.
• The Davis Companies: Boston-area private real estate investor/developer focused on mixed-use, life sciences, and multifamily projects. Comparable as a private mixed-use developer pursuing amenity-rich, transit-connected districts similar in philosophy to The Waterfront.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCwEwrWep_4aFNglGD2aqGoA
• Facebookfacebook.com/thewaterfrontlv
• LinkedInlinkedin.com/company/the-waterfront
• Instagraminstagram.com/TheWaterfrontLV
• Xx.com/thewaterfrontlv

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Waterfront