Report: Former Trump Tower River Site Sold, More Residential Planned

The deal is for Pier 35 & 1/2.

Pier 35 & 1/2 | via Google Street View

Pier 35 & 1/2 | via Google Street View

Is another residential project coming to the shores of the Delaware River? Jacob Adelman of The Inquirer reports that Pier 35 & 1/2 has been sold to a developer planning residential on the site.

The 2.13-acre tract of land is located at 709-717 North Penn Street, directly south of Waterfront Square. Terms of the deal are unknown at this time and broker Michael Barmash of Colliers International could not be reached for comment regarding the deal. The former pier was put on the market back in December and offers were due on March 2. Here’s more from Adelman, “Pier 35 1/2 – same name as the site – acquired the 2.13-acre tract from SA Group Properties on April 29.”

You may recall that Donald Trump, through a partnership with Multi Capital Group called VTE Philadelphia L.P.,  proposed to build a 45-story tower on the pier in 2005. (Do yourself a favor and watch this pump up video for the project from the Donald himself.) Whereas today we have top-end luxury projects like 500 Walnut and the SLS Residences popping up, the Trump Tower was supposed to be the place for wealthy Philadelphians. That is, of course, until the recession dashed those high rolling dreams.

We simply couldn’t leave it to chance. Here’s the Trump Tower pump up video featuring The Donald, awesome time lapse renderings of the project and even a few shots of Allen Iverson!

• Pier 35 tract on Delaware River set for development [The Inquirer]