UPDATE: Developer
Bart Blatstein confirms that he and frequent busines partner Joseph Volpe, of
Cescaphe Event Group, have paid $3 million to buy the vacant former
Philadelphia Electric Co. riverfront Delaware Station in the city's Fishtown
section, and are pushing ahead with their plan to add one or more hotels and a
catering hall complex at the high-ceilinged hall, pending financing and
partners.
EARLIER: Back in January, Blatstein (of Tower Properties
and city apartment and retail projects in North and South Philly and, lately,
down the Shore) and Volpe, whose firm controls many of the city's most
attractive and lucrative wedding-party venues, told me they'd agreed to buy the
imposing, John Windrim-designed former power plant from Peco Energy Co. Peco
spokesman John Judge now tells me the company has completed its sale of the
site, also home to the historic former Cramp's shipyard.
City records show that "Delaware Station LLC,"
based at Cescaphe's offices in the city's Fairmount section, paid $3 million
for the 16-acre Delaware Station property in May. In its power-station days the
complex included a sports facility and other amenities; the interior was a setting
for the movie Twelve Monkeys.
Source: Philly.com
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