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Kellie Patrick Gates relays information shared during a meeting between the Central Delaware Advocacy Group and Delaware River Waterfront Corporation about the progress by project designer Hargreaves Associates on a conceptual plan for a new Penn’s Landing. The project includes 11-acre cap park, which would stretch from Front Street to the Delaware River by capping I-95 and Delaware Avenue.
The current cost estimate for the plan is $205 million in public investment (and the plan is expected to be difficult to fund). But according to Gates, [the] idea is that investment would spur the private parts of the development – the residences, restaurants, shops and the like – to the tune of $800 million or even $1 billion.”
Some details about how the park's conceptual designs are taking shape:
Gates’s article also makes the point, by paraphrasing Delaware River Waterfront Corporation Chairman Matt Ruben, that the Penn’s Landing plan will have a higher economic benefit than typical highway projects because freeway widenings don’t spur economic development in surrounding land uses.