Mega-Project Trades Trail Funding for Extra Height
"A mega development coming to the Delaware River waterfront will include a swath of a long-planned river trail in exchange for permission to build taller towers than local regulations permit," reports Jake Blumgart.
"Developer Jeff Kozero will build the trail on a section of publicly owned land as part of the first phase of a massive development that will eventually span 18 waterfront acres between Washington Avenue and Reed Street," adds Blumgart. "It will include 10 towers comprising nearly 2,000 residential units and a hotel. In addition to the public trail controlled by the Delaware River Waterfront Corporation, Kozero plans to create 2.2 acres of public space."
The project will be built in phases, and earned an extra "72 feet of tower in exchange for building out the river trail across the length of the site." The project earned additional height bonuses for "including 20,000 square feet of retail in the complex as well as the 2.2 acres of public space."