A 2-year, $5.25 million study on the development of
175-acre site reportedly concluded it will cost roughly $6.5 billion to
overhaul the 175-acre site that neighbors 30th Street Station.
The 30th Street Station District Plan, led by Amtrak,
SEPTA, Brandywine Realty Trust, Drexel University and the Pennsylvania
Department of Transportation, studied the proposed development of a huge part
of West Philadelphia.
The plan would create a dense urban community, partially
situated above 88 acres of rail yards, build an underground concourse
between 30th Street Station and the nearby SEPTA subway station, and relocate
the ramp to the Schuylkill Expressway to allow for a bus terminal that replaces
the existing area where passengers wait for Megabus and others, according to the Inquirer.
Anticipated is about 18 million square feet of new
development, the equivalent of nearly 15 new Comcast Towers, including enough
housing to accommodate up to 10,000 residents. The commercial space includes
about 1.2 million square feet planners hope will be occupied by a single
corporate, commercial, or institutional tenant that will anchor the
development, though none has yet been secured.
The 35-year project also includes plans to upgrade the
station's interior, add a surrounding plaza, and construct another skyscraper,
the Inquirer reported.
Brandywine Realty Trust, which is responsible for the
Cira Centre and has partnered with Drexel on the Schuylkill Yards project, must
bid on the work, even though it was part of the study, according to the report.
Source: Philadelphia
Business Journal
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