On October 31, 2019, the Delaware River Waterfront Corporation (DRWC) announced a Request for Proposal (RFP) seeking teams to redevelop eleven acres of central Delaware River waterfront space. Real estate investment firm JLL is marketing this opportunity.
The development opportunity features two parcels currently used as parking lots: the nearly eight-acre Market Street Site and the nearly four-acre Marina Basin Site. Both are zoned for high-density, mixed-use development and feature views of the river and Philadelphia skyline.
The chosen developer will design, build, and maintain a sustainable, mixed-use development consistent with DRWC guidelines.
Over the past decade, DRWC has improved the Waterfront by building award-winning public parks and attractions, streetscapes and trails. A new 12-acre, $225 million public park adjacent to Penn’s Landing will open in 2024.
“The Waterfront has become a top destination for residents and visitors of all backgrounds, and an increasingly attractive site for private development. Now with the new Park at Penn’s Landing moving into final design, the time is right to focus on redevelopment opportunities around it in order to maximize the synergy between these significant investments,” said Joe Forkin, president of the Delaware River Waterfront Corporation.
Submit proposal by February 7, 2020.