Category waterfront

Another apartment high-rise for Philadelphia on the Delaware River Waterfront?

Proposed high-rise for Philly’s Delaware River Waterfront

Maybe, maybe not.

First, the proposed building exceeds the height limit set by the newly adopted waterfront master plan. The current limit is 100 feet for this parcel, and this building is looking to go as high as 200 feet.

Second, there is the issue of who will be responsible for repairing/developing Pier 40. The developer wants to “donate” it to the city, but that would still come at a cost ($3M just to take it down). My guess is that this will not happen.

Third, the city wants the developer to not only take ownership of and repair Pier 40, but they want it to be a well thought out plan that would benefit the public. Again, not sure if the developer will go for this, even if they get the height exception approved.

There are a lot of “what ifs,” but the good news is that developers are anxious to build along this stretch of riverfront land.

More development proposed for the new, better-planned Delaware River Waterfront

Back when real estate was booming, so much so that builders could not put things up fast enough, there were many sleek high-rise buildings being proposed for the Delaware River Waterfront.

As things slowed down, so did many of those developers’ aspirations to build (along with available financing). But things are slowly starting to come back to life again. The biggest difference is that instead of building condos (to own), developers are more focused on building apartments (to rent).

A project called the Marina View Tower, click here for some of the details of the former plan, was proposed right as the market crashed. Unfortunately, so did the plans for this new high-rise.

But all is not lost…

The same developers are back and are proposing to build a more suitable building for the current market. I’ll keep you all posted as more news becomes available.

The future of Philadelphia is the Delaware River Waterfront

Proposed Delaware River Waterfront Park
*Since today’s subject offers so much information to potentially discuss, use the included links as your guide. They will help tell the story. 

If you keep on top of Philadelphia’s development scene (either through this blog, or through other local news sources), this post should not be much different from anything you have already heard or read. What it will do is offer insight into how far along we have come.

But for those who are not familiar with the plans that are brewing on Philly’s east coast, you will want to start off by reviewing the plans that have already been approved for the shores of Philadelphia’s largest river; the Delaware River.

It all started about 5 years ago when the City of Philadelphia decided that it was time to connect Philadelphians back to their river. Neighborhoods like Fishtown, Northern Liberties, Pennsport, and Whitman all have long histories with the Delaware River. It wasn’t until I-95 started being built back in the 1960s that residents were basically forced to disconnect from their river.

Race Street Pier

Fast forward to 2012, where the recreational success of the Schuylkill River has forced our local politicians to think differently about our largest water source. This latest Philly.com article helps explain where things stand today.

Below are some additional links:

A Civic Vision for the Central Delaware

Action Plan for the Central Delaware: 2008-2018

The Delaware River Trail

Developing the Waterfront