Burlington City Waterfront Revitalization to Start with 183-Unit Residential Community
- Sep 04, 2014
Burlington City’s bleak waterfront is set for a major transformation as the Common Council recently unveiled plans for a new residential development near the Delaware River in the city’s historic district.
Dubbed Pearl Pointe, the apartment community will be built by Phillipsburg-based Peron Development on a 3.8-acre city-owned site that encompasses two vacant parcels at High Street and Pearl Boulevard. As reported by the Philadelphia Inquirer, Peron Development has entered an agreement with Burlington City officials to purchase the construction site for around $1.83 million and will chip in $100,000 for the cost of landscaping.
“The City has a great history, a picturesque downtown, and a beautiful natural resource with the river,” said in an official statement John Callahan, director of business development for Florio, Perrucci, Steinhardt & Fader, the law firm that represents Peron in the project. “That, combined with accessible light rail, makes Burlington an ideal city for residential development,” he added.
Designed by USA Architects for young professionals—mostly millennials—and empty-nesters looking to downsize, the Pearl Pointe community will comprise two four-story residential buildings totaling 183 luxury and market-rate apartments, and one of the buildings will include 8,000 square feet of restaurant or retail space. According to the Inquirer, the units will be available for rents starting at $900 for a one-bedroom and $1,200 for a two-bedroom unit.
With construction scheduled to start within the following weeks, Pearl Pointe will be completed by the end of 2015. The residential community is expected to be the centerpiece of a long-delayed waterfront revitalization master plan that will eventually become an arts district to include an entertainment venue, restaurants and various recreational spaces.
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Rendering courtesy of the City of Burlington