AAM_McCartney_LVS_7.05 5/20/05 9:44 AM Page 1 The Style7 Personalities » Leaders » Celebrities allentown Art museum presents

Do You Know Lou?

How one of the Valley’s © The Estate of Linda McCartney, 1998 Estate McCartney, © The of Linda most progressive Linda McCartney’s Sixties developers continues to Portrait of an Era ride the — THROUGH AUGUST 21 — redevelopment wave. GUIDED VISITS FREE WITH EXHIBITION ADMISSION EVERY WEDNESDAY, FRIDAY, AND SUNDAY

f you don’t know Lou, you will… and you Major support provided by the Trexler Trust should because if there is anyone changing Ithe shape of Lehigh Valley’s downtowns and landscapes, Contributing support is provided by it’s Lou Pektor, President of Ashley Development Corporation of Bethlehem. Sustaining support is provided by We talked to Lou about his Steve Murphy, By Lisa J. Gotto President & CEO, past in the Lehigh Valley, his Rodale, Inc. Photography by present high-profile projects Additional support is provided by Dan’s Camera City, Friends of Photography, and the Kairos Trust. It is organized with the permission of the Estate of Linda McCartney. Lisa Lake-Adams and what his vision of our area’s future is. 2004-2005 SEASON SPONSORS: THE RODALE FAMILY 31 N. Fifth St. • 610-432-4333 • www.allentownartmuseum.org

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on its latest project in Downtown Q. What is your background in “As the growth of the Lehigh Valley As the growth of the Bethlehem, a mixed use, residential, the Lehigh Valley? accelerated, it was only a matter of time Lehigh Valley accelerated, retail and office complex at the corner of until the city, or urban area caught up it was only a matter of Broad and New Streets. The $16 million with that growth.” Pektor explains that project with its upscale Neo-Classic A. “I grew up on a farm near Williams it is not until the suburban or residential time until the city, or urban styling will take the place of a metered Township. My parents were dairy areas are adequately populated that area caught up with that parking lot. Just across the street, farmers,” says Pektor of his idyllic- downtown re-vitalization can be growth. the historic Farr’s building is also on sounding childhood. Pektor took envisioned and then supported by  Ashley’s schedule for redevelopment. advantage of two top-notch educational those residents who come to the urban opportunities right here in the Valley, areas in search of goods and services. Pektor says the Alphagraphics building securing his undergraduate degree from Q. What projects are currently on the devastated by fire in late 2004 will rise Moravian and his M.B.A in Finance from One of Pektor’s lynchpin projects in the drawing board at Ashley Development? from its ashes to become an upscale Lehigh University. city of Bethlehem was the redevelopment restaurant under his company’s of the vacant Orr’s building into what is direction, and on Bethlehem’s north After acquiring his M.B.A., Pektor worked now known as Main Street Commons, a A. The expression “adaptive re-use” side the historic Silk Mill is slated to for 15 years trading for two high profile vibrant and bustling example of a mixed seems to be the buzz phrase when it become attractive and fun housing for brokerage firms. In New York City, he used facility of retail and office space. It comes to Ashley Development these area college students offering state of worked trading precious metals on the was the beginning of the revitalization of days, as a majority of their current the art styling and appointments, such Comex. He then moved on to hold a that key corner of Broad and Main Streets projects are those that require significant as wireless connections. seat as a retail broker at the Philadelphia in the late 1990’s and it helped enhance re-structure and re-classification of Stock Exchange, working for Janney the historical character of that area. sites, not to mention environmental Across the Fahy Bridge and into South Montgomery Scott. In 1980 Pektor began rehabilitation in some cases. Bethlehem, Ashley Development dabbling in real estate with some smaller continues to make its mark on this side deals and found he enjoyed the process. As this story was being written, Ashley of town. For years the area seemed to After becoming disenchanted with high- Development had just broken ground flounder as the less attractive stepsister stakes trading, Pektor says he left the brokerage biz in 1988 to pursue a career in real estate development full time.

Q. What can you tell us about the chronology of Ashley Development?

A.“Ashley Development was incorporated in 1989. Back then we did a lot of residential land development. We began to get involved in the development of commercial retail, and office buildings in the 1990’s,” says Pektor. Today, 40% of the business can still be classified as non- residential development, Pektor adds.

Once suburban growth had reached a certain level in the Lehigh Valley, it’s a natural progression, Pektor explains, for smart developers to look at other options.

“Adaptive re-use to me is a lot more creative [than developing green fields].” It was at this point that Ashley began its initial push toward redeveloping urban areas, primarily the city of Bethlehem. Today, Ashley Development has a total of well over $150 million invested in Downtown Bethlehem.

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of Bethlehem’s Historic District although it is not for lack of trying, as he was the area always seemed full of potential previously interested in working there. because of its proximity to the Lehigh He says, however, that the political University campus. That began to climate in Allentown was just not change in 1998 with the opening of The conducive to doing business. Banana Factory, which Pektor followed up with the $4.5 million revitalization “The few times we tried to put things of Union Station. The building of brick together [in Allentown] we were very and cast stone dates back to 1924 and uncomfortable,” says Pektor. “Hopefully, the is now part of St. Luke’s Hospital and climate will change in the coming years.” Health Network. Additional and various private sector investments have followed in Bethlehem’s south side providing Q. How would you respond to those fundamental steps in the right direction who say our area is becoming over-developed? toward economic recovery. The ear rings? New York. Nearby, Ashley Development is also working A.“Everyone’s attention is on the The gown? Paris. on the Riverport building tucked in between threat of over-development,” says Pektor the Banana Factory and the Lehigh River. of our region’s municipal and legislative When completed, Riverport will provide concerns. “The result is you have proper The smile? Dr. Kun. 172 living units, a 20,000 square foot development because everyone is looking One of the most alluring accessories you can wear is a Starters Pub and an enormous gym. at it so much.” beautiful smile. It says you’re con dent, healthy, and Down on Polk and 3rd Streets a new Pektor says when it comes to this yes, at trac tive. three-story unit designed to “look old” is issue there tends to be a “drawbridge” nearing completion: The facility is being mentality among residents and business For a smile that speaks volumes, see Dr. Michael Kun. A built to accommodate Ashley’s traditional interests. “The last person in wants to graduate of LVI, the world’s premier edu ca tional center mix of retail and office space. Its main pull up the drawbridge behind them.” for cosmetic dentist ry, Dr. Kun can redesign your smile tenant will be St. Luke’s Hospital. Pektor conveys that just isn’t realistic. to brilliant perfection. Meanwhile the demand for a better and Ashley Development has become well more affordable quality of life from New known for its revitalization projects that York, New Jersey and even Philadelphia adhere to the rigorous guidelines of the residents is not letting up. Pennsylvania Historical and Museum Commission, a state agency overseen by Governor Ed Rendell. Q. How does Ashley Development address the balance between environmental Meanwhile, Pektor is now working concerns and the need for viable economic closely with the city of Easton on several and housing opportunities in the Valley? projects: The biggest is the redevelopment of the Pomeroy’s building, circa 1880, Business Banking in a Class by Itself near the circle on Northampton Street. A.“It’s a challenge,” says Pektor of Its anticipated mix of retail and office balancing the expansion in our region. space will include two restaurants on Situations like this, he says, can actually the building’s lower level, an upscale perpetuate sound planning scenarios, as coffee chain, and office space on the it forces the development of sites that upper floors. The building will be the might otherwise remain vacant. new home of REDA Productions. Ashley Development will then renovate REDA’s “The market is changing. Easy pieces current factory-like facility located in of land to develop just aren’t there West Easton into studio apartments. anymore,” says Pektor. “For instance, we www.embassybank.com (The building was the original home of needed to spend one million dollars in Business Banking Center: 484-821-0965 Chipman Knitting Mills.) environmental clean-up for the Riverport project.” Pektor says developers will 100 Gateway Drive, Bethlehem, PA 18017 Conspicuous by its absence is Pektor’s need to spend more money to address (just north of Route 22 on Route 512) involvement with redevelopment in the changing market. “On another note, Allentown’s urban areas. Pektor says we always try to make it a habit to give

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The Style7 Personalities » Leaders » Celebrities Experience Emmaus! Shop • Dine • Enjoy something back to the area we have developed, whether it’s Lehigh Valley’s Largest Selection of Decorative Hardware creation of emergency Fully Designed Custom Kitchens & Cabinetry services, recreational areas, or open spaces beyond the normal requirement.”

Q. Explain how you feel the benefits of a slots parlor will out- weight the obvious drawbacks that gaming brings to a community. 345 Chestnut Street, Emmaus, PA 610.965.3030 Store Hours: Mon-Fri 9:30am-5:30pm • Sat 10am-4pm A. This hot-button issue is on the minds of many Lehigh Valley residents. Pektor says if this endeavor even comes Stop in to fruition, he is not in favor of placing a slots parlor on Sweet Memories Celebrate Bethlehem’s south side. A unique and charming shoppe for Hair “There is a high degree of responsibility on the developers Shopping/Dining Open 10am-4pm Tues-Sun Summer Savings at Nails part when it comes to gaming,” observes Pektor, noting that Lunch includes soups, salads, Tanning-UV & Airbrush the process can potentially abuse the community. “Whoever quiche, gourmet sandwiches. from gets that slots license will have to deal with $800 million Enjoy in our relaxing café or take Body Wraps worth of development in that area.” Pektor does not feel it to go Tues-Sat 11:30am-2pm. 20-75% distinctiverosabella gifts, decor and more Massage Freshly baked pastries always that South Side Bethlehem’s infrastructure can support this available. Sunday Brunch 10am-2pm Skin Care complicated enterprise. “I think it could destroy the fabric Cooking Classes/workshops Organic Hair Removal of South Side,” says Pektor. “The South Side neighborhoods, Small parties and showers • Children’s events (610) 966-5116 Unique decorated cakes • Limited catering available 173 Main Street, Emmaus and the infrastructure, will be hard pressed to handle the Season Hours: flood of development that would come with it.” Come & Experience April - Labor Day “The Shops at Sweet Memories” Summer Hours: 12 South Fourth Street Tues-Fri 11-5 Emmaus, PA 18049 Mon, Fri 10-6:30 Pektor says slots are better suited to the area if they are 180 Main Street, Emmaus, PA Tue, Wed, Thu 10-8 Sat 11-4 • Sun 12-4 located within the Route 33 corridor so traffic has easier 610.965.8444 Sat, Sun 10-2 610-967-0296 and direct access to the facility right off the highway.

“There’s good things that can happen with slots in the right place, but there is the question of handling the negatives,” adds Pektor.

Q. What factors, in your opinion, have lead to the recent development boom and what is your vision of the Lehigh Valley’s future? Experience Emmaus! Shop • Dine Enjoy A. “I think development of the Lehigh Valley is going to continue as an extension of the Philadelphia, New York and New Jersey markets because of the better quality of life and the cost differential,” says Pektor. “I don’t think you can change that wave now.” ■s

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