Nationwide Call for Developers for Eleven Acres on Philadelphia Waterfront
Released October 31 2019
The Delaware River Waterfront Corporation released a Request for Proposals for qualified developers to transform prime waterfront land at Penn’s Landing into mixed-use development sites.
The Delaware River Waterfront Corporation (DRWC) announced a Request for Proposal (RFP) seeking qualified teams to develop eleven acres of prime waterfront land as the organization continues to implement key recommendations of its Master Plan for the Central Delaware. Real estate investment firm Jones Lang LaSalle (JLL) is helping to market this opportunity.
The development opportunity features two parcels which are currently used primarily as surface parking lots: the Market Street Site, which is almost seven-and-a-half acres spanning from Market Street to Chestnut Street; and the Marina Basin Site which is almost four acres covering Spruce Street to Lombard Street. Both sites are zoned for high-density mixed-use development and feature stunning views of the Delaware River and Philadelphia skyline. The Marina Basin site is adjacent to the highly successful Spruce Street Harbor Park and the Market Street site is adjacent to the new Park at Penn’s Landing. This transformational, new 12-acre, $225 million public park is scheduled to open in 2024. Teams are invited to respond to the RFP to develop one or both sites by February 7, 2020. More information about the site can be found here: www.pennslandingdevelopment.com.
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