PennDOT has committed $100 million to the plan to cap I-95 in Center City, Billy Penn is reporting.
In today’s budget address, Mayor Jim Kenney called for $90 million in city funding over six years to cap I-95 in town and create a park between Chestnut and Walnut streets that would allow a greater connection between Center City and the Delaware waterfront.
Now, Billy Penn says PennDOT told the site it plans to commit to $100 million.
The total cost for this plan to cap I-95 and create a park over it is about $225 million. With $90 million from the city and $100 million from PennDOT, that leaves just $35 million in additional funding (presuming the project actually costs $225 million). Kenney has said that money could come from private funding.