Morning Headlines: Parcel on Delaware Waterfront Seeks Expressions of Interest
Now here’s an exciting update for developers looking for a piece of the Delaware waterfront: the Delaware River Waterfront Corporation has put out a Request for Expression of Interest (RFEI) for a parcel located at Spring Garden Street and Delaware Ave/Columbus Blvd. The space, known as the Festival Pier site, has already undergone predevelopment work.
According to the release, the property plays a significant role in the Central Delaware Master Plan as it’s “the second largest publicly-owned parcel on the waterfront” after Penn’s Landing. The Master Plan has previously pinpointed the site as “a location for a landmark, high-quality development” because of its potential to “extend the growth and vibrancy of the nearby neighborhoods” to the waterfront. The space is currently zoned CMX-3, or mixed-use residential.
After receiving expressions of interest, the DRWC intends to compile the applicants onto a “shortlist of firms, who will be invited to respond to a detailed Request for Proposals” or RFP stage:
The RFP process will include a due diligence period to allow interested parties to assemble the information necessary to prepare and finalize a development program, cost estimate, and financing plan. DRWC will evaluate proposals based on its stated criteria, but will not be obligated to select a developer if proposals do not meet the principles set forth in the Master Plan.
In other news…
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- Urban Outfitters to replace S.C. center with one in Lancaster County [PhillyDeals]
- Marple gets first peek at proposed development of Don Guanella property [Daily Times]