PENN'S LANDING FEASIBILITY STUDY
The goal of this study was to test the feasibility of the concept outlined for Penn’s Landing in the Master Plan for the Central Delaware River Waterfront. DRWC hired multidisciplinary consultant team led by the internationally renowned landscape architecture firm Hargreaves Associates to determine whether the general concept – completing the bridge over I-95 and Columbus Boulevard from Chestnut Street to Walnut Street and creating a tilted park down to the river – was possible from an engineering perspective and to determine the probable cost and associated economic benefits of such an endeavor. After nine months of study, the major elements of the completed study are:
- Bridging over I-95 and Columbus Boulevard between Chestnut and Walnut Streets to create a four acre highway cap.
- Replacing the current underutilized Great Plaza with a tilted park and combining it with the highway bridge would create an 11-acre public space bounded by Walnut and Chestnut to the north and south, and the Delaware River and Front Street to the east and west.
- Extending the South Street Pedestrian Bridge across Columbus Boulevard to the southern edge of the Penn’s Landing marina basin.
- Creating a continuous 50-foot-wide pedestrian esplanade along the water’s edge.
- Completing the on-road section of the Delaware River Trail, a multi-use pedestrian and bicycle facility, between Washington Avenue and Spring Garden Street, connecting Penn’s Landing to city neighborhoods north and south along the waterfront as well as west toward Center City.
- Creating opportunities for the development of 1500 new residences, 500 new hotel rooms, and 75,000 square feet of new retail space.
- The cost of the public investment into the project is estimated to be $250 million. The study concluded such an investment would yield nearly $1.6 billion in returns to the City, the Commonwealth of Pennsylvania, and the School District of Philadelphia.
Over the next six weeks we will be releasing in-depth information on each of these project elements, including the engineering, transportation and connectivity, open space and public realm design, private development, and the budget and economic impact of this investment. Details on the cost estimation process and assumptions and the expected economic benefits will be included in this iterative release.
To kick things off, we’ve provided below the summary presentation given to our Board of Directors which explains the progress this study has made and illustrates many of the most important points.
Penn's Landing Feasibility Study Overview