The Gallery, East Market, SLS and Marriott hotels, two
Bart Blatstein projects, that Urban Outfitters campus in Devon, parking in
Villanova and Ardmore, the FMC Tower, the helicopter factory: Pennsylvania
developers, corporations, colleges, hospitals and towns are among those asking
state taxpayers for more than $1 billion in matching funds to support favorite
projects under the Redevelopment Assistance Capital Program (RACP).
In case that's not enough, Gov. Tom Wolf yesterday asked
for more applications and agreed to take new requests from May 4-18. How to
apply here, also links to recent funding and requests. -- Last year under Gov.
Tom Corbett, the state collected $1.1 billion in RACP requests, but only funded
$207 million of projects, or less than $1 in $5. -- Highlights from 2015 RACP
requests (so far):
Philadelphia: 66 requests, including:
- $31.5 million to help Pennsylvania Real Estate
Investment Trust (PREIT) turn the aging Gallery at Market East shopping mall
into "a vibrant, modern marketplace" and "an open and exciting
retail, dining and entertainment destination."
- $20 million for SLS International Hotel &
Residences' planned "mixed-use" high-end hotel and residences at
Broad and Spruce.
- $15 million to Broad Street Holdings LP to build a
supermarket, two parking levels, "two residential towers, and 27
residential rowhomes" at 1300 Fairmount Ave., which the state calls a
"pivotal knuckle" of North Broad St., and New York developer RAL
Companies says is "at the tipping point" for the 860,000 sf
development.
- $10 million for AgustaWestland Philadelphia Corp., the
Northeast Philadelphia helicopter maker owned by Italy's Finmeccanica, to add
200,000 sf to the 270,000 sf factory for "expanded aircraft production,
onsite customer support and a state-of-the-art training academy" plus new
machinery.
- $8.5 million for National Real Estate Advisers of
Washington and its Philly partners to update the old department store distribution
center at East Market (1100 block between Market and Chestnut) into 161,000 sf
of upstairs warehouse and 25,000 sf of retail, including a 16,000 sf Mom's
Organic Market.
- $6.4 million for Thomas A. Leonard and partners' 3.0
University Place, 150,000 sf of offices plus 30,000 sf of first-floor stores in
University City.
- $6 million to move and fix up the USS Olympia (Admiral
Dewey's flagship in the Philippines was in which the U.S. took over Spain's
colonial empire).
- $5 million for developer Bart Blatstein's Tower
Entertainment to redevelop the old Inquirer Building, 400 N. Broad St., into a
125-room hotel (25 to be suites), a 4,000 sf restaurant, 9,000 sf of meeting
space.
- $5 million for Blatstein's Tower Investments and
caterer Joseph Volpe's Cescaphe Event Group to redevelop PECO's 16.4-acre
former Delaware Generating Station at 1324 N. Beach St.
- $5 million for the Delaware River Waterfront Corp. to
build new Spring Garden and Festival piers
- $5 million for Solo RI LP to redevelop 3701 Island Ave.
as a $22.9 million Gateway Marriott hotel near the airport.
- $5 million for Mt. Airy USA's Germantown Ave.
Redevelopment Initiative to fix up the old Sedgwick Theater and other real
estate in the 6300-6700 and 7100-7200 blocks of Germantown Ave.
- $4.5 million for Wexford Science & Technology LLP
to start replacing the former University City High School with a new Drexel lab
complex, housing, and stores
- $4 million for Philadelphia Chinatown Development
Corp.'s $76 milion Chinatown Community Center project: stores, offices, meeting
space, and 150 housing units.
- $3.5 million for the University of Pennsylvania's
"Pennovation Center" at the former DuPont works on Grays Ferry Ave.
- $2 million for FMC Corp. to do "tenant
improvements" at its new headquarters in the 49-story FMC Corp. tower,
2930 Walnut St., University City.
-- And many more.
Delaware County: 20 requests, including:
- $10 million for Villanova University to build and move
parking away from new building sites on Lancaster Ave.
- $7.5 million for 69th Street Retail Mall LP to turn the closed Sears Department Store at
69th and Walnut into a 108,000 sf shopping center
- $7 million for Jeff Rotwitt's Sun Center Studios to
develop a 125-key hotel and other attractions at its 33 acre former Sunoco site
in Chester Township
- $5.1 million for a new Marple Township police and court
building. Plus $650,000 to renovate township hall.
- $5 million for Melmark Center's $10.1 million upgrades
- $4 million for Potterville Development GP Inc. to build
a new 3-story 108-room Marriott Fairfield Inn and Suites at Lawrence and
Langford Rds., Broomall, Marple, to open in 2016
More coverage
Redevelopment Assistance Capital Program: Listing of
Candidates (PDF)
Montgomery County: 9 requests, including:
- $10.4 million for Ardmore Transit Center Garage, so
Septa can build a 6-level, 630-car garage with developer Carl Dranoff, Lower
Merion Township and Amtrak
- $6 million to move the Cheltenham Township public-works
department to make way for a "mixed-use development" at Elkins Park
West
- $5 million for the Montgomery Township Multi-Purpose
Recreational and Community Center
Chester County: 5 requests, including:
- $5 million to demolish two Coatesville buildings and
make way for a 4-story store/parking/44-apartment structure by DEPG Coatesville
Associates LP
- $3 million for Coatesville Office Funding to erect
"the first large-scale office structure erected in Coatesville in over 40
years"
- $4 million for the Association for the Colonial Theatre
to add two theaters and a lobby
- $1.5 million for Urban Outfitters to help the company
fund a $24 million demolition, new building, landscaping, parking garage and
other improvements at a site in Devon, Easttown Township
Bucks County: 9 requests, including:
- $4.5 million for Biotechnology Incubator, Buckingham
Township, 3-story addition and upgraded utilities
- $2.5 million for Firebird Community Center, Bensalem,
in a vacant warehouse
- $2.5 million for the Waterside project via Bensalem
Redevelopment LP
Source: Philly.com
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