$15M mixed-use development in Easton earns approval

Posted on August 9, 2019August 9, 2019 by Sarah Clark

August 8, 2019

After acquiring Easton Planning Commission approval on Wednesday night, The Commodore project is a step closer to starting construction this fall.

A developer is planning to start construction this fall on The Commodore, a mixed-use building in Easton. (Submitted)

The project involves constructing an eight-story building in downtown Easton with a rooftop restaurant, several floors of upscale apartments and office/retail space on the lower levels. The building will include an addition to the existing Kaplan Building at 100 Northampton St., which the developer will incorporate into the project.

The next step comes Monday when the project is expected go before the city’s Historic District Commission, which also must review the project. It also has to go before City Council for approval, said developer Garett Vassel, founding president of Optima Durant Group LLC in New York City.

He said he is hoping to start construction on the 91,500-square-foot building sometime in the fall and to wrap it up in fall 2020.

He is using Optima Durant Construction, Artefact Architecture of Bethlehem and Beers Engineering of Lehighton.

He said he pursued the project based on the business growth and activity he has seen in Easton.

“I think Easton is a really exciting place to be,” Vassel said.

His company acquired the Kaplan Building last year. He said he wanted to preserve and restore its architectural features rather than simply demolishing it all and building new.

“I am trying to build this building very thoughtfully,” Vassel said.

The building would include predominantly two-bedroom units, with some one-bedroom units and, potentially, studios.

He plans to offer about 15,000 square feet of office space, which he described as a considerable risk.

The overall estimated cost of the project could be more than $15 million, he added.

The funding is mostly private, but he received some public funds in the form of a $3 million state grant from the Redevelopment Capital Assistance Program.

He estimated that the property would generate $700,000 in income, city and state taxes each year once it is operating.

Vassel will offer some parking on site and more spaces nearby to the north of the property.

With mixed-use Commodore development eyeing approvals in Easton, 1 apartment’s aim is to assist others

Posted on August 7, 2019August 7, 2019 by Jon

By Tony Rhodin | For lehighvalleylive.com

When Garett Vassel seeks more city approvals beginning Wednesday evening for his proposed mixed-use development called The Commodore at the former Kaplan’s Awnings site in Downtown Easton, he will be pitching luxury apartments along with all-to-rare office space in addition to store-front retail.

The eight-story addition to the three-story part of the old building that will remain after demolition will also feature a rooftop restaurant, he said.

There will be plenty of detail how Vassel’s proposal will add to the center city renaissance, which has focused on the high end, whether it be in housing in several renovated buildings or the tear-down, build-up new site for Hearst magazines on South Third Street.

But, in addition to being awarded a $3 million RCAP grant in recent days, the project also received a $225,000 PHARE grant, which focuses on providing affordable housing.

Vassel has quietly been in talks for the last year or more with Third Street Alliance for Women & Children to provide one of the 32 apartments in the building as affordable housing for a family served by the Downtown agency, which is based on North Third Street.

The conversations also involved the Easton Housing Authority, Executive Director Gene Pambianchi said.

Alisa Baratta is the executive director of Third Street Alliance in Downtown Easton.

Since low-income housing developments are often stigmatized by that name, Pambianchi said mixing affordable housing into a market-rate building is an excellent idea. Third Street Alliance Executive Director Alisa Baratta agrees.

While the social service agency is in need of housing now for its homeless clients — there were 321 households in the first half of the year in the 18042 zip code that were homeless — Baratta is pleased with her work with Vassel and his team over many months now.

“Certainly we’re grateful,” she said, crediting Vassel with the foresight to work with the community long before construction begins on the property at Northampton Street and Larry Holmes Drive.

Third Street Alliance through its “housing navigator” currently is working with about 20 landlords in Easton to house homeless families, but more landlords are needed, Baratta said. And as Downtown transforms from what was once a low-income housing neighborhood to a more upscale hub of urban professionals, housing for the homeless is being pushed out into the neighborhoods and even beyond the city’s borders, she said. With back-to-school season here, it’s crucial to get an address for as many homeless children as possible, she added.

Part of Vassel’s commitment to Third Street Alliance is helping to find jobs for those who live in the affordable-rate apartment. The building will need people working in office jobs, food-service jobs and retail jobs, not to mention maintaining what will eventually be a large, if properly scaled structure. But if there’s no work for them in the building, Vassel and his team will look elsewhere to help them find work, he said.

Being that his project will cost as much as $18 million, there are challenges to creating affordable housing within it.

“I am working closely with the PHARE (Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund) administration to provide an impact, while weighing financial restraints,” Vassel said in an email. “It’s been a pleasure working with them, there is a lot of respect on both sides.”

Pambianchi said he envisioned several affordable units in the building, but that’s just not fiscal reality, Vassel said, adding he sought “some mixture between market rate and affordable.”

“With the PHARE grant I received, a one-unit offering became the number that was financially possible to accept the grant,” Vassel said.

When weighing his commitment, one thing was clear, Vassel said.

“I have visited the Third Street Alliance for Women & Children on multiple occasions now over a few years, and I feel very good (on a personal level) about this partnership,” Vassel said.

But the reality is, this is a market-rate building, and market rate is no longer cheap Downtown.

“It has been estimated between state tax, state income tax, city, Easton Area School District tax, Northampton County tax, city EIT (earned income tax), The Commodore project could generate over $700,000 annually (and into perpetuity), which will repay the state’s investment in a matter of a few short years,” Vassel said.

When it comes to the $3 million RCAP grant, “I will seek to repay it with righteous actions, economic activity and job creation, and bold, yet measured investment for many years to come,” Vassel said. “My intentions are clear: I want to make a positive impact on the communities in which I invest.”

What’s next?

The project will first go before the Easton Planning Commission at 6:30 p.m. Wednesday in city council chambers on the third floor of city hall at 123 S. Third St. Vassel said the next stop would be Monday before the Historic District Commission.

“Final permitting would follow,” he said. He hopes to start building in the fall, he said.

The city planning staff has determined the project “is consistent with the nature of the surrounding area, and will be a vast improvement to the current site.”

There will be 14 off-street parking spaces, and three trees are planned along Northampton Street, although the city forester recommends Gingko Biloba rather than the proposed Trident Maples, according to paperwork. The Zoning Hearing Board already granted a variance for residential use on the first floor with commercial space above, something not typically allowed in the city. A note will be added to the application indicating the building is in a 100-year floodplain. The plans have been submitted to the Lehigh Valley Planning Commission for review.

Boscola Announces Funding for Lehigh Valley Redevelopment Projects

Posted on August 2, 2019August 9, 2019 by Jon

Bethlehem, August 1, 2019 – State Sen. Lisa Boscola today announced $6,750,000 in Redevelopment Assistance Capital Program (RACP) funding to six redevelopment projects in the 18th Senatorial District.

“These state funds will be used to assist in the redevelopment of five important economic development projects in the cities of Bethlehem and Easton along with assisting in the construction of a new public safety complex in Whitehall,” Boscola stated. “By investing in these projects, the Commonwealth is providing important capital to make not only make these projects economically viable, but also create additional economic development projects that will not only create jobs, but also positively impact businesses located in our urban areas.”

The projects being awarded RACP funding are:

Commodore -Optima Durant
($3,000,000):
The redevelopment of 100-116 Northampton Street in the City of Easton, which is a blighted property that serves as the gateway to Pennsylvania, into commercial, residential and a 6,000 sq. foot restaurant on the roof;

Whitehall Township Police and Municipal Services Complex ($1,000,000):
Whitehall will be constructing a new 29,000 square foot police station and sally port adjacent to the existing municipal complex and renovating approximately 9,000 square feet of the existing complex;

Boyd Theater Redevelopment
($750,000):
A mixed use redevelopment of the former movie theater into ground floor retail and 120 one and two bedroom apartments in Bethlehem’s central business district;

Heritage Lanes Building (Easton)
($750,000):
Heritage Riverview, LLC, will be redeveloping the vacant Heritage Lanes building into a multi-use structure that will allow for additional levels of the building. Hearst Corporation has already been announced as a primary tenant and will occupy the entire first floor;

Riverport Market – Bethlehem
($750,000):
Project will demolish the former Starters Riverport and convert it to an urban market, which will be home to 30 vendors and businesses. This $3 million project will build upon the successes of other urban markets throughout the Commonwealth; and,

ArtsQuest Community Cultural Center
($500,000):
Projects consists of the construction of a new 80,000 square foot arts and cultural center at the site of the current Banana Factory Arts Center in Bethlehem.

“I am pleased to have worked with Governor Wolf on these joint priorities to make this funding a reality,” Boscola stated. “We both recognize the importance of redeveloping sites such as this in our urban cores to make neighborhoods vibrant once again.”

The RACP (Redevelopment Assistance Capital Program) is used for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. Qualifying projects have a regional or multi-jurisdictional impact, help create or maintain jobs, and generate economic activity.

Which local projects were awarded millions of dollars in state aid? Who missed out?

Posted on August 2, 2019August 7, 2019 by Jon

By Rudy Miller | lehighvalleylive.com

The Pennsylvania governor’s budget office awarded millions of dollars in grants Thursday for projects local officials that aim to help boost the Lehigh Valley’s local economy.

Not everybody got what they wanted, though.

The awards go out every year through the state’s Redevelopment Assistance Capital Program. For consideration, the awards must help acquire land or build a project that will boost “regional economic, cultural, civic, recreational and historical improvement projects.” The state is looking for a big return on investment, which is why the grants are often six to seven figures.

The Commodore
Asked for: $9.3 million
Awarded: $3 million

Plans call for preserving the historic section of a blighted building at 100-116 Northampton St., called the gateway to Easton. The new structure will have a rooftop restaurant and 32 apartments. It was home for decades to Kaplan’s Awnings.

Lehigh Township public works facility
Asked for: $368,000
Awarded: $0

Heritage Lanes
Asked for: $750,000
Awarded: $750,000

This redeveloped bowling alley at 132 S. Third St. in Easton will become an office building. Most, if not all, of the building will be occupied by Hearst Publishing.

Lidl grocery store
Asked for: $1 million
Awarded: $0

The German-owned grocery store opened earlier this year on South 25th Street in Wilson Borough.

Riverport Market
Asked for: $1.2 million
Awarded: $750,000

This project calls for a $3 million renovation of the former Starters Riverport pub in South Bethlehem into a market for as many as 30 vendors.

Lafayette College – Rinek Rope complex
Asked for: $1.5 million
Awarded: $0

The Easton college wants to renovate and repurpose the former Rinek Rope manufacturing complex at 991 Bushkill Drive.

ArtsQuest Community Cultural Center
Asked for: $4 million
Awarded: $500,000

ArtsQuest in Bethlehem wants to construct a new 80,000-square-foot arts and cultural center at the current Banana Factory Art Center. The project calls for razing four of the six current buildings.

Lafayette College – Kunkel Hall
Asked for: $4 million
Awarded: $0

The Easton college wants to renovate this building for academic and administrative offices consistent with its campuswide expansion plans.

Boyd Theater
Asked for: $5 million
Awarded: $750,000

The redevelopment of the former Boyd Theater property in Bethlehem will be the first new mixed used residential development project on West Broad Street in over 35 years. Plans call for demolishing the obsolete two-story commercial structure and single-screen movie theater and replacing them with 120 one- and two-bedroom apartments with modern layouts and amenities.

Polk Street parking garage
Asked for: $5 million
Awarded: $0

This seven-story, 585-space parking garage is planned for a surface parking lot maintained by the Bethlehem Parking Authority.

Da Vinci Science City
Asked for: $8 million
Awarded: $0

Plans for this science museum in Easton are now off the table after the city and museum board couldn’t agree on a site.

Readington Farms
Asked for: $20 million
Awarded: $0

The Readington Farms project in Palmer Township includes the construction of a 350,000-square-foot dairy processing and distribution facility on a 35-acre parcel.

Here are the Lehigh County projects:

Allentown Metal Works
Asked for: $500,000
Awarded: $500,000

The Allentown Commercial and Industrial Development Authority owns 606 S. 10th St., a 19-acre former manufacturing property. The project includes a phased renovation of three buildings.

Bogert’s Bridge restoration
Asked for: $1 million
Awarded: $250,000

The historic covered bridge’s railing system, approach road and timber deck all need serious repairs. Many systems have completely failed. Without significant rehabilitation, this bridge may be lost.

Mansion on Seventh rehabilitation
Asked for: $1.5 million
Awarded: $500,000

Plans call for rehabilitating a historic Allentown mansion to host a restaurant for hospitality training and to provide commercial office space. Empty parcels adjoining the mansion will be developed as public green space and for the construction of two commercial units and eleven townhouses.

Iron Works Catasauqua
Asked for: $2.2 million
Awarded: $0

The project calls for the redevelopment of the former Crane Iron Works site in Catasauqua for a mix of commercial, residential, and public uses.

Evonik
Asked for: $2.5 million
Awarded: $2.5 million

The German specialty chemicals company Evonik plans to open a $50 million business and technology center at 7201 Hamilton Blvd. in Upper Macungie Township.

Little Lehigh infrastructure
Asked for: $3 million
Awarded: $1 million

This Allentown development will provide housing for low and moderate income Allentown families. It calls for the demolition of 10 structures and the new construction of 16 buildings with 76 homes.

Whitehall Township police and municipal services complex
Asked for: $5 million
Awarded: $1 million

Plans call for a new 29,000-square-foot police station at the current township municipal complex at 3219 MacArthur Road, renovations to the township building, a new shared lobby, two new elevators and associated site improvements.

Local officials react to the grant announcements:

State Rep. Robert Freeman said he’s grateful for the $3.75 million awarded to the Commodore and Heritage Lanes projects in Easton. “Projects like these encourage people to live downtown by offering affordable housing and they also provide businesses with opportunities to expand their operations leading to more jobs for area residents,” he said in a news release.

State Sen. Lisa Boscola thanked the governor for the $6.75 million in awards for projects in her district. “These state funds will be used to assist in the redevelopment of five important economic development projects in the cities of Bethlehem and Easton along with assisting in the construction of a new public safety complex in Whitehall,” Boscola said in a news release.

Garett Vassel is the president of the Optima Durant Group, which is developing the Commodore in Easton. The project got the most RACP dollars in the Lehigh Valley. Only seven projects in Pennsylvania got more than $3 million, according to an Optima Durant consultant.

“I am so grateful and encouraged for this deserving project,” Vassel said.

Easton’s proposed Commodore building gains a floor and a lot more office space

Posted on July 8, 2019July 16, 2019 by Jon

July 2, 2019

The developer of a proposed building called “The Commodore” at Northampton Street and Larry Holmes Drive in Downtown Easton has added a floor and expects to fill it and a mezzanine level with 15,000 square feet of office space.

The rest of the 91,000-square foot project is not vastly changed from the original pitch earlier this year for the old Kaplan’s Enterprises building, Garett Vassel said Monday. Plans still call for 31 apartments, a 6,200-square-foot rooftop restaurant, two lobbies, a 1,600-square-foot gym for tenants, a total of 1,700 square feet of street-level retail space, 14 integrated parking spots and a 1,200-square-foot open-air courtyard.

Vassel is in discussions with Fortune 500 companies as well as mid-sized Lehigh Valley companies to lease the office space, which is triple the original design, he said. Whether it be one tenant or more companies or a WeWork space, he said, it will fill a need in the city and also enhance Easton’s reputation with its already “revitalized business scene, culture, cuisine and nightlife, plus its family-friendly vibe and accessibility to nature.”

Vassel’s Optima Durant Group is prepared to build the space on spec and, based on the city “evaluating possible infrastructure upgrades within the telecommunications realm,” be able to present an opportunity for a large company to “have a regional office at a significantly lower price than in a major city.”

The building, at one of Easton’s gateways as it sits across from the Easton-Phillipsburg free bridge, will be eight stories plus a mezzanine but will not require a height variance, he said.

A 350-square-foot “semi-private” lobby will be built on the east side of the lot and will allow access to the office space and the restaurant, Vassel said. Public use will not interfere with the residential portion, which will have another lobby between the current store fronts, he added.

Much of the rear of the building is being torn down and replaced by a taller building and much of the office space will be new construction as it wraps around the old, he said.

The project at 100 Northampton St. has already been through the zoning phase with the city and Vassel expects by August to go through the formal planning and historic reviews and follow that with the permitting process.

In this scenario, demolition and construction would begin sometime in the autumn and the development would open in fall 2020, he said.

The “goal is in front of me and it’s on track,” Vassel said about planning and financing the project.

That the Hearst Corp. is bringing up to 175 jobs to the Heritage Riverview development in the 100 block of South Third Street is only good news to Vassel as he markets the city’s attributes to possible office tenants. Hearst employees could eventually live in The Commodore, he said.

He says he is a huge “cheerleader” of Lou Pektor’s project which is underway and expected to be complete by year’s end.

By adding office space rather than more apartments, Vassel figures he’s making the city a better draw for businesses.

“I’ve got a lot of interest already,” he said, even companies willing to sign letters of intent. It would be great to have the office space signed off on before construction starts — as happened for most of Heritage Riverview — but it’s not essential, he said.

The number of office jobs is dependent on the use but Vassel figures it will be a “fair amount.”

He calls both residential and commercial interest “astounding” in his project.

“Due to Easton’s proximity to both Manhattan and Philadelphia, not to mention its charm and affordability, the city has become an ideal location for urban professionals looking for a higher quality of life.”

Garett Vassel

About
Optima Durant Group

Optima Durant Group is a fully integrated real estate company that focuses on development, construction, design and property management. Optima Durant, the motto of the founder’s primary school, translates to The Best Endures. The Company was founded in 2017 and pursues projects within the New York, Pennsylvania, and Texas markets.

About Us

Optima Durant Group Triples Commercial Offering of Easton Gateway Project to 15,000 Square Feet

Posted on July 1, 2019July 16, 2019 by Sarah Clark

The Commodore Mixed-Use Development to Include 31 Residential Units

Residential Unit
Restaurant
Commercial Space

June 28, 2019—Optima Durant Group has expanded the commercial floor plan of its ground-up Commodore development in Easton, Pa. to 15,000 square feet, triple the original design. Still on track to open in fall 2020, the eight-story project now includes a mezzanine and additional level dedicated to commercial office space, plus a 350-square-foot semi-private lobby. It also features a 1,600-square-foot gym available to all tenants, 14 integrated parking spaces, 31 residential units, a 1,200-square foot open-air courtyard, a 6,200-square foot rooftop restaurant with a terrace, and a 1,700-square foot retail space offering.

Located at 100 Northampton Street and informally known as “the gateway to Easton,” the Commodore is being marketed as an exceptional branding opportunity for its location, foot /car traffic and visibility from the Northampton Street Bridge (Free Bridge). The development is within walking distance to the city’s bustling downtown and overlooks the Delaware and Lehigh rivers. It is also adjacent to Scott Park, connecting tenants to multiple recreational trails.

“The early interest we’re seeing in both the residential and commercial sides of this project is astounding”
Garett Vassel

“The early interest we’re seeing in both the residential and commercial sides of this project is astounding,” said Garett Vassel, Optima Durant Group founder. “Due to Easton’s proximity to both Manhattan and Philadelphia, not to mention its charm and affordability, the city has become an ideal location for urban professionals looking for a higher quality of life. With its revitalized business scene, culture, cuisine and nightlife, plus its family-friendly vibe and accessibility to nature, you could argue that Easton is becoming the new Brooklyn.” Easton is approximately 65 miles from Philadelphia and 68 miles from Manhattan.

Optima Durant Group is currently in leasing discussions with Fortune 500 companies throughout the entire Northeast and mid-Atlantic regions, as well as with several midsize local Lehigh Valley companies. Vassel said the city of Easton is evaluating possible infrastructure upgrades within the telecommunications realm, which would present a compelling offering for large companies that want to have a regional office at a significantly lower price than in a major city.

About Optima Durant Group

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Business Matters – Investing in the Lehigh Valley

Posted on May 6, 2019July 16, 2019 by Sarah Clark

Tony Iannelli, Garett Vassel, Carl Billera, Nat Hyman, Dennis Benner talk about investing and rebuilding Lehigh Valley cities. Including rural and suburban areas.

Watch Full Video

Business Matters – Investing in the Lehigh Valley (Pt.1)

https://youtu.be/fJIxzQDi2b0

Part 2

https://youtu.be/mUWH5BpTZms

Part 3

https://youtu.be/YQLYCl7WKBs

New York developer has big plans for Kaplan building in Easton

Posted on February 27, 2019August 2, 2019 by Sarah Clark

EASTON, Pa. – It was once home to three generations of a family business and known for its red, white and blue awnings.

But now the Kaplan building, which sits on the corner of Northampton Street, is the latest piece of hot Easton real estate.

New York developer Garret Vassel has big plans for the property, which include retail space, apartments, and a roof top bar and restaurant.

“The ability to be able to look out onto this fantastic view here, the two rivers coming together, I think the vantage point was really it for me,” Vassel said.

Parts of the building, which is over 100 years old, are in serious disrepair.

The first and second floors housed Kaplan’s sign and awning business, which has since relocated.

The third floor was at one point an apartment, but water damage and neglect have left it in shambles. There are holes in the walls and ceilings, buckling floor boards and broken glass.

Vassel said the current condition is cosmetic and the location and history of the property is what drew him to it.

“The numbers, all of the analysis, is great. But there has got to be a sex appeal, an excitement. For me it was the charm of the building,” Vassel said.

Project investor and former Easton Mayor Phil Mitman says he expects the building redevelopment to add to Easton’s growing revitalization.

“It’s just a wonderful time to take this old building, building around it and then invite people to live here. The views and everything else are phenomenal,” Mitman said.

Vassel calls the project ‘adaptive reuse’ and says he plans to restore parts of the building back to their former glory.

The rest will be transformed into something new.

Vassel said he plans to start construction this year.

Old Kaplan’s Building New Gateway to Easton

Posted on February 27, 2019July 18, 2019 by Sarah Clark

Big Plans for an Old Building. Soon to be Gateway to the City.

Posted on February 12, 2019July 18, 2019 by Sarah Clark

Category: News