LEHIGH-NORTHAMPTON AIRPORT AUTHORITY AND THE ROCKEFELLER GROUP FINALIZE AGREEMENT FOR SALE OF AIRPORT LAND
February 11, 2015
Agreement advances plans for development on approximately 260 acres in Allen Township
ALLENTOWN, PA – The Lehigh-Northampton Airport Authority (LNAA) has finalized an agreement for the sale of approximately 260 acres of airport-owned land in Allen Township. The buyer is Rock-Lehigh Valley LLC, a wholly-owned subsidiary of The Rockefeller Group. The closing of the transaction, which is anticipated for 2015, is subject to various governmental approvals.
The Rockefeller Group will pay LNAA $9.88 million to purchase the land. The transaction is expected to help LNAA meet its immediate financial obligations and stabilize its operations for the longer-term.
“We are delighted to have reached an agreement with a developer of The Rockefeller Group’s caliber to help realize our long-term plans”, said LNAA Executive Director, Charles Everett. “We are doing some innovative things with land not needed for aviation purposes, and expect this project to benefit the local area by enhancing partnerships with the private sector and introducing new jobs and opportunity to this community.”
“We are very pleased to have finalized our agreement with the Lehigh-Northampton Airport Authority, another positive step toward realizing new commercial investment and economic development for the Lehigh Valley”, said Clark Machemer, Vice President and Regional Development Officer for The Rockefeller Group in Pennsylvania and New Jersey. “Upon closing, we anticipate this investment to generate hundreds of construction jobs and thousands of permanent jobs, an expectation that’s supported by the demand for warehouse and distribution facilities in the region. We believe that over time the benefit to LNAA and the Lehigh Valley will only continue to grow.”
The Lehigh-Northampton Airport Authority owns and operates three airports: Lehigh Valley International Airport, Queen City Airport and Braden Airpark. LNAA consists of a 15-member Board of Governors appointed by both Lehigh and Northampton Counties. The authority owns and operates over 2,900 acres including 163,000 SF of Terminal and Departure Facilities. Our vision is to be a model aviation system, providing the highest levels of service to our diverse customers while serving as a gateway to the community, region and world.
Lehigh Valley International Airport is conveniently located near Allentown, Bethlehem and Easton, Pennsylvania and is served by Allegiant Air, Delta, United, and US Airways with 9 nonstop destinations with connections to the world. LVIA serves a twelve county area with a population base of 3.6 million people. The Airport is easily accessible from communities in eastern Pennsylvania and northern New Jersey areas. For more information on LVIA, visit www.flyabe.com or www.facebook.com/flylvia.