“Master Plan for the Central Delaware’s Festival Pier Rendering, showing the redevelopment of the entire 11-acre site.” | Courtesy of Delaware River Waterfront Corporation
- Feeling the time is right to finally begin the mixed-use redevelopment of Festival Pier at Spring Garden Street, the Delaware River Waterfront Corporation is soliciting formal “requests for expression of interest,” reports the Philadelphia Business Journal. According to vice president for operations and development Joe Forkin, the DRWC regards the 11-acre site—surrounded as it is by a rush of private investment in recent years—as arguably the best place to catalyze further development and realize its vision of a dynamic waterfront that “feels like a natural extension of the city.”
- Hoping to expedite the redevelopment of the Divine Lorraine, Eric Blumenfeld’s EB Realty Management will forgo its original plan to resuscitate the grand hotel at Fairmount, Ridge, & North Broad, opting instead for 126 apartment units and two levels of retail, says Property. “It’s a better project if it gets done today rather than five or 10 years down the road,” said executive director Chris Cordaro, adding that the main thrust of construction—minor work was undertaken last summer—will begin in May. The new budget is $43 million.
- A housing report released by the Center City District yesterday speaks to the improving fortunes of downtown’s residential market, as nearly 2,000 units were delivered last year. “In addition,” says a press release, “there are 3,681 more units in progress in Greater Center City, with the mix of units closely resembling what has come on line in recent years: 75% apartments, 15% single-family homes, and 10% condominiums.” For these and other findings, peruse the report HERE.
- In a non-binding, 6-2 vote, the Planning Commission recommended yesterday that City Council not approve a bill that would allow three “Urban Experiential Displays” in Center City, reports Plan Philly.
About the author
Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.
