Casino Helps Apartments Hit Rent Jackpot
Pam Frebel has moved around a lot in a career spent opening casinos around the world.
She moved to the Lehigh Valley earlier this year for her job as senior project manager with the Sands Casino Resort Bethlehem. A colleague suggested Woodmont Mews off Eighth Avenue in Bethlehem, one of the city's newest apartment complexes, as a good place to live.
She checked it out and liked the spacious units, the amenities that include a swimming pool, and the proximity to the casino, which is about a five-minute drive.
''The proximity to work is fabulous,'' Frebel said. ''The apartments are roomy with a lot of closet space and plenty of parking. I've been in apartments all over country and this was really attractive to me.''
The new casino has provided a jackpot of tenants for the $20 million apartment complex that opened in 2007 behind a Lowes home improvement store.
About 16 of the 200 units are occupied by casino employees, said Lewis Zlotnick, president of Woodmont Properties in Parsippany, N.J.
''We had planned to be fully leased in May, but as a result of the influx of casino employees, that was accelerated by a month,'' Zlotnick said. ''It's a good, stable employer. People are coming in with good-paying jobs from all over the country. They're looking for a great place to live that's close to work.''
The residential rental market tends to pick up when home prices slip, Zlotnick said. People no longer feel pressured into buying homes when prices are stable or falling, and casino employees new to the Lehigh Valley may prefer to rent while getting to know the area before they commit to home ownership, Zlotnick said.
Other tenants include employees at area hospitals, who like the complex's easy access to Routes 378 and 22, Zlotnick said.
The company is investing heavily in the Lehigh Valley. It has another 216-unit apartment project planned in Palmer Township.
''We think the long-term prospects for the Valley are great,'' Zlotnick said.
Paul Stegner also moved to the Valley from Hershey for a job at the casino, where he is a slot tech supervisor who oversees maintenance and repair on the slot machines and other related computer systems.
He noticed Woodmont Mews as an option online, and then heard more about it on his job interview. He checked it out with a casino colleague who is also new to the area, and they decided to share a two-bedroom apartment at the new complex.
''We liked that it was brand new and that it's only five minutes from work,'' he said. ''[At] my old job, I had a 40-mile commute to work. This is a lot nicer.''
Frebel said word about Woodmont Mews spread through the ranks at the new casino. The units are roomy, with the smallest one-bedroom at more than 900 square feet. And the complex is dog-friendly, which appealed to many casino employees, she said.
And the big draw is its location less than three miles from work, she said.
''My commute is five minutes,'' she said. ''If I hit traffic, it's about eight minutes.''
She moved to the Lehigh Valley earlier this year for her job as senior project manager with the Sands Casino Resort Bethlehem. A colleague suggested Woodmont Mews off Eighth Avenue in Bethlehem, one of the city's newest apartment complexes, as a good place to live.
She checked it out and liked the spacious units, the amenities that include a swimming pool, and the proximity to the casino, which is about a five-minute drive.
''The proximity to work is fabulous,'' Frebel said. ''The apartments are roomy with a lot of closet space and plenty of parking. I've been in apartments all over country and this was really attractive to me.''
The new casino has provided a jackpot of tenants for the $20 million apartment complex that opened in 2007 behind a Lowes home improvement store.
About 16 of the 200 units are occupied by casino employees, said Lewis Zlotnick, president of Woodmont Properties in Parsippany, N.J.
''We had planned to be fully leased in May, but as a result of the influx of casino employees, that was accelerated by a month,'' Zlotnick said. ''It's a good, stable employer. People are coming in with good-paying jobs from all over the country. They're looking for a great place to live that's close to work.''
The residential rental market tends to pick up when home prices slip, Zlotnick said. People no longer feel pressured into buying homes when prices are stable or falling, and casino employees new to the Lehigh Valley may prefer to rent while getting to know the area before they commit to home ownership, Zlotnick said.
Other tenants include employees at area hospitals, who like the complex's easy access to Routes 378 and 22, Zlotnick said.
The company is investing heavily in the Lehigh Valley. It has another 216-unit apartment project planned in Palmer Township.
''We think the long-term prospects for the Valley are great,'' Zlotnick said.
Paul Stegner also moved to the Valley from Hershey for a job at the casino, where he is a slot tech supervisor who oversees maintenance and repair on the slot machines and other related computer systems.
He noticed Woodmont Mews as an option online, and then heard more about it on his job interview. He checked it out with a casino colleague who is also new to the area, and they decided to share a two-bedroom apartment at the new complex.
''We liked that it was brand new and that it's only five minutes from work,'' he said. ''[At] my old job, I had a 40-mile commute to work. This is a lot nicer.''
Frebel said word about Woodmont Mews spread through the ranks at the new casino. The units are roomy, with the smallest one-bedroom at more than 900 square feet. And the complex is dog-friendly, which appealed to many casino employees, she said.
And the big draw is its location less than three miles from work, she said.
''My commute is five minutes,'' she said. ''If I hit traffic, it's about eight minutes.''