Morning Headlines: Parcel on Delaware Waterfront Seeks Expressions of Interest

The site's development would help along the Central Delaware Master Plan.

Master Plan for the Central Delaware. Photo via the Delaware River Waterfront Corporation.

Master Plan for the Central Delaware.
Photo via the Delaware River Waterfront Corporation.

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.

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