Mon February 17, 2014
Demand rising for Allentown housing
With thousands more workers anticipated for the Buffalo Niagara Medical Campus, the real estate market is booming in the adjacent Allentown neighborhood.
"Everything is selling," reports M.J. Peterson realtor Susie Lenahan.
"The apartment rental market is exploding. It's everything. I can't say it's only little houses or big houses. It's all houses. We have a shortage of inventory, very, very low on inventory. There are way more buyers than there are properties for sale."
Lenahan says sales of two major buildings on Allen Street are about to close based on the current rise in business for bars and restaurants, with more increases expected.
The city is already planning streetscape improvement on Allen Street as part of connecting Allentown and the Fruit Belt with the medical campus and with the Allen-Hospital Metro Rail station.