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The Durst Organization chosen for waterfront redevelopment
Published September 09, 2020
PHILADELPHIA (AP) — The Durst Organization of New York has been selected for a redevelopment project at Penn’s Landing where the Philadelphia 76ers had earlier proposed a new basketball arena.
The Delaware River Waterfront Corporation said Wednesday that Durst was the unanimous selection among “four strong proposals" for redevelopment of two sites along the river separating Philadelphia and New Jersey.
The Philadelphia Inquirer
Durst, which already owns parcels north of the Benjamin Franklin Bridge, plans to invest $2.2 billion into the project over nine years, officials said.
The 76ers had proposed a 19,000-seat arena among apartments, hotels, restaurants, a supermarket and a school building. In the early 2000s, mall developer Simon Property Group abandoned plans for a shopping-and-entertainment complex on the site including the Camden tram.
Officials said a groundbreaking is planned next year for Penn's Landing park that will include a multi-use trail and an extension of a bridge to bring pedestrians directly from the South Street entertainment area to the waterfront.
https://www.foxnews.com/us/the-durst-organization-chosen-for-waterfront-redevelopment