Redevelopment continues to change the landscape of South Bethlehem, and the latest example is that area’s first large-scale luxury apartment project.
Now that it’s nearly complete after several years in development, Five10 Flats, formerly Greenway Commons, is shaping up to be a different type of residential project for the city.
The $20 million five-story building at 510 E. Third St. will have Starbucks as its first tenant. Opening on the first floor this summer, with residential tenants moving in by August.
John Callahan, former Bethlehem mayor and now director of business development for Peron Development, led a tour of the site Wednesday afternoon, showing two nearly ready units and highlighting the amenities.
These include walk-in closets in all the units, as well as stainless steel appliances, dishwashers, granite countertops, washers and dryers, and vinyl tile flooring.
All units have keyless entry and are smart-enabled, which allows tenants to control room temperature, lighting and other elements through their smartphone, he said. Lutron Electronics, an Upper Saucon Township manufacturer, made all lighting systems.
TAX INCENTIVES
Developers announced the project in 2014 shortly after Bethlehem earned the City Revitalization and Improvement Zone, a tax incentive program aimed at spurring economic development. Five10 Flats marks the third CRIZ project for the city.
With seven floor plans, monthly rents ranges from $1,350 to $1,500 for a one-bedroom and $1,550 to $1,800 for a two-bedroom unit. Peron Development has leased 15 of the 95 units, Callahan said.
Shawna Green, director of operations for Civic Property Management LLC of Bethlehem, is property manager.
AMENITIES
The first floor will have a dog wash, fitness center, bike storage area, full community room and package concierge, Callahan said.
Another amenity is the rooftop terrace, which offers views to all directions of the city, including the iconic Bethlehem Steel blast furnaces at the nearby SteelStacks site.
With Northampton Community College expanding its maker space and technology center across the street, residents could walk there to take a cooking class or learn how to make a guitar, he said.
The apartment building’s proximity to the Greenway, a pedestrian path that runs through the city’s South Side, could attract people looking for outdoor recreation.
Residents will have free parking near the building, as well as fee-based premium spaces that are nearer to the building.
ACCESS
Residents will have private interior access to Starbucks, Callahan said.
Starbucks will occupy slightly more than 2,000 square feet at the corner of Fillmore and East Third streets. It will have 42 seats, including “soft” outdoor seating on the sidewalk, a mobile portal and pay option and pickup zone in front of the building.
The look of the Starbucks will be modern and updated, similar to the stores at the Promenade Shops at Saucon Valley and the one on Lehigh Street in Allentown, he said.
The rest of the space on the ground floor is available. With wide sidewalks for outside dining facing South Third Street, restaurants are potential tenants, Callahan said.
About 13,000 square feet is available, but if everything works out with the three potential users, the available space would be about 3,000 square feet, he said.
Plans call for a courtyard area that connects to Social Still, a distillery that opened in 2014.
FUTURE EXPANSION
Workers are completing the apartment project in phases. There could be a second building, which would be an office building, and a third building, which would be residential, Callahan said.
510 Flats is designed by USA Architects, Planners & Interior Designers of Easton and built by Boyle Construction of South Whitehall Township.
The project required a fair amount of remediation, he added.
