Easton’s trend of repurposing old buildings into new luxury apartments continues Tuesday with the start of work at Easton Yards.
The gutted factory on the South Side will be converted to 59 apartments. The $9.5 urban renewal project at 457 W. Lincoln St. is across from the Mill at Easton, a workforce housing development going in at the site of a demolished silk mill. It’s catty-corner to the newly-constructed Cheston Elementary School.
“We’re just super excited to get Easton Yards and bring it to the South Side,” said William Procida. Procida Funding & Advisors of Englewood Cliffs, N.J., is financing the $9.5 million project.
Rendering of the Easton Yards project, courtesy of Pereiras Architects. It's a former factory at 457 W. Lincoln St in Easton. it will be converted to 59 apartments.Courtesy Pereiras Architects
The project has changed since its inception. Back in 2016, it was supposed to be the largest indoor vertical garden in Pennsylvania. The current ownership group bought the property in 2017 for $750,000, according to county tax records.
Demolition and gutting of the property is complete. Construction started Tuesday now that financing is in place, Procida said.
Easton Mayor Sal Panto Jr. grew up on the South Side. He remembers when the building was the GAF Co. factory, which stands for General Aniline & Film. They make roof shingles today, although Panto wasn’t sure what they made decades ago in the Easton factory.
He does remember his neighbors walking to work in the factory and taking home a decent wage. He sees the development as another piece in the city’s renewal. With the Pomeroy Building, the Gov. Wolf Building and One 6 Flats complete and the Commodore on track, most of the downtown has been redeveloped, he said.
“You have to start with your heart. If you have a good heart you can have good arteries. These are the arteries. Our neighborhoods are the arteries of our city,” Panto said.
He looks forward to the day the building will no longer be vacant.
“When you have blighted buildings they bring drugs and crime. Beautiful buildings bring good people with eyes on the street and the crime goes away,” Panto said.
It should take about a year to complete the project, according to Brian Doyle of ASR Holdings. There will be one-, two- and three-bedroom apartments with rents as low as $1,300, he said.
They’ll have 12-foot-high ceilings, an indoor/outdoor residents' lounge, a fitness center, bike storage and at least 75 parking spaces.
“I’m very excited about this project,” Panto said. “I’m really excited about what it will do for the school across the street and the other project across the street. They’re all coming out of the ground at the same time which is fantastic.”
Owner/developer: ASR Holdings, Inc.
Financing: Procida Funding & Advisors
General Contractor: Success Investments
Architect: Pererias Architects Ubiquitous
Property Management: Empire Property Management
Mortgage Broker: CH Kauffman & Associates, Inc.
Work started Oct. 6, 2020, on the Easton Yards project. It's a former factory at 457 W. Lincoln St in Easton. From left: Derek Weissman, vice president of Procidia Funding and Advisors; Easton Mayor Sal Panto Jr.; Brian Doyle of ASR Holdings.Rudy Miller | For lehighvalleylive.com
Work started Oct. 6, 2020, on the Easton Yards project. It's a former factory at 457 W. Lincoln St in Easton. it will be converted to 59 apartments.Rudy Miller | For lehighvalleylive.com
Work started Oct. 6, 2020, on the Easton Yards project. It's a former factory at 457 W. Lincoln St in Easton. William Procidia of Procida Funding & Advisors points to the right.Rudy Miller | For lehighvalleylive.com
Work started Oct. 6, 2020, on the Easton Yards project. It's a former factory at 457 W. Lincoln St in Easton. it will be converted to 59 apartments.Rudy Miller | For lehighvalleylive.com
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Rudy Miller may be reached at rmiller@lehighvalleylive.com. If there’s anything about this story that needs attention, please email him. Follow him on Twitter @RudyMillerLV. Find Easton area news on Facebook.
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Work starts on Easton Yards, a gutted factory being transformed into upscale apartments - lehighvalleylive.com
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