Friday, July 6, 2012

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.

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