Allentown is named after Lewis F. Allen (1800–1890) who came to Buffalo in April 1827 to serve as Corporate Secretary and financial manager of an insurance company.

Allen was also a farmer and when looking for space to let his cattle graze, purportedly his neighbor, Thomas Day, suggested some of his land, which sat between the cities of Buffalo and Black Rock.

Allentown is known for its community of artists, for its embrace of bohemian, hipster and gay culture, and for the civic commitment of residents to the historic and aesthetic sensibilities of the neighborhood.

It includes the Kleinhans Music Hall which is separately listed on the NRHP and is further designated as a National Historic Landmark.

The meeting triggered the foundation of the Allentown Village Society, and, by August, plans were in the works for an outdoor art show in the town, which occurred the following month in September 1958.

Louis Cherenzia, another one of the founders, noted "It was rated as the most colorful cultural event in Buffalo since the Pan-American Exposition.