JLL: Nationwide Call For Developers For Eleven Acres On Philadelphia Waterfront

Delaware River Waterfront Corporation releases Request for Proposals for Penn's Landing waterfront land

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Oct 31, 2019, 10:57 ET

PHILADELPHIA, Oct. 31, 2019 /PRNewswire/ -- The Delaware River Waterfront Corporation (DRWC) announced a Request for Proposal (RFP) seeking teams to develop eleven acres of central Delaware River waterfront space. Real estate investment firm JLL is marketing this opportunity.

The development opportunity features two parcels currently used as parking lots: the nearly eight-acre Market Street Site and the nearly four-acre Marina Basin Site. Both are zoned for high-density, mixed-use development and feature views of the river and Philadelphia skyline.

The chosen developer will design, build, and maintain a sustainable, mixed-use development consistent with DRWC guidelines. Teams are invited to respond to the RFP to develop one or both sites by February 7, 2020.

Over the past decade, DRWC has improved the Waterfront by building award-winning public parks and attractions, streetscapes and trails. A new 12-acre, $225 million public park adjacent to Penn's Landing will open in 2024.

"The Waterfront has become a top destination for residents and visitors of all backgrounds, and an increasingly attractive site for private development. Now with the new Park at Penn's Landing moving into final design, the time is right to focus on redevelopment opportunities around it in order to maximize the synergy between these significant investments," said Joe Forkin, president of the Delaware River Waterfront Corporation.

For more information, www.pennslandingdevelopment.com.

ABOUT JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

ABOUT DELAWARE RIVER WATERFRONT CORPORATION (DRWC)
DRWC is a 501(c)(3) created in January 2009, exclusively for the benefit of the City of Philadelphia and its citizens. The fundamental purpose of DRWC is to design, develop, program and maintain public amenities such as permanent and seasonal parks, trails, and streetscape improvements to transform the waterfront into a vibrant destination for recreational, cultural, and commercial activities for the residents and visitors of Philadelphia as is consistent with the goals of the Master Plan for Central Delaware. Daily programming throughout the entire year is changing the way Philadelphians see and converse about the waterfront, and is helping to create spaces and communities that connect residents and visitors to the waterfront and is helping to create spaces and communities that connect residents and visitors to the waterfront. Visit delawareriverwaterfront.com for more information.

SOURCE JLL