Planners have completed a two-year study of the area around the 30th Street Station in the University City neighborhood in Philadelphia.
Jacob Adelman reports: "Amtrak and its partners in the proposed redevelopment of a massive swath around 30th Street Station in University City say the decades-long plan - including partially capping the adjacent rail yard - will involve $6.5 billion in infrastructure funding and private investment."
The financial assessment included in a planning document released this week for the 175-acre site extending northeast from 30th Street Station. Amtrak, Drexel University, Brandywine Realty Trust, SEPTA, and PennDot completed the 30th Street Station District Plan over two years at a cost of $5.25 million.
The 35-year plan lays out a vision for a dense urban neighborhood, with "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…"
Read the full story: $6.5B price tag for 35-year University City overhaul
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