Posted Jul 2, 2019, 11:57 AM
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Major project proposed for Port Richmond waterfront
https://www.bizjournals.com/philadel...-richmond.html
Quote:
A partnership involving Concordia Group is planning an ambitious development on 30 acres between the Delaware River and Beach Street and next to Graffiti Pier in the Port Richmond neighborhood of Philadelphia.
Plans filed with the city call for: four, 7-story multifamily buildings; 43, 4-story multifamily buildings arranged in townhouse clusters; a garage with 1,134 spaces; a structure for a community center; as well as commercial space, trails, and open space accessible by the public. The plan is by right, said Ron Patterson, an attorney with Klehr Harrison representing the developer. It will go before Philadelphia’s Civic Design Review Committee on July 2.
This project at 2001 Beach St. joins several others proposed along the Delaware River or are in the early planning stages. In addition, multiple high-profile sites such as Pier 25, which is where Cavanaugh’s River Deck operates, and 933 N. Penn St. have hit the market amid increased development interest along the river.
Concordia is a Bethesda, Md., real estate firm with a Philadelphia presence and has been involved in other local projects. Its plans are among the largest proposed for along the river.
“It’s one we thought out,” said Devin Tuohey of Concordia. “We’re envisioning building this in phases and thoughtfully developing it. We’re not in this to flip it.”
The same partnership involved in the Beach Street proposal is developing the Locks, a 60-unit condominium project on Venice Island in the Manayunk neighborhood of Philadelphia. In addition to Concordia, D3 Developers and the Resmark Co. are part of the development team.
The Beach Street property is owned by Beach Street Corp., which is a partnership involving the family of Mike Stack, the former lieutenant governor of Pennsylvania, and James J. Anderson, owner of a Bucks County construction firm. In 2013, Steve Wynn had eyed the 30 acres, which was part of a bigger 60-acre parcel, for a casino. A deal never materialized for that project.
ISA has designed the Beach Street project and Land Collective is the landscape architect. Calling the design of the grounds “critical,” Tuohey said that the landscaping needs to be thoughtfully designed because of its location along the river and next to Graffiti Pier.
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