Chester, Pa., Waterfront to Get $500M Mixed-Use Makeover
- Mar 26, 2008
Buccini/Pollin Group today announced plans to develop a $500 million mixed-use project on the Delaware River in Chester, Pa. The 70-acre project, to be developed in phases over five years, will include 180 town homes, 225 apartments, 36,000 square feet of retail space, an 8,000 square foot restaurant, 435,000 square feet of office space and a 200,000 square foot convention center. A parking structure will accommodate 1,350 vehicles. A community marina and spacious greenways will add to the amenities. Construction is scheduled to begin in the fall. Today’s announcement follows news reported in late February by CPN that Chester will host Major League Soccer’s new Philadelphia team. That report hinted that a major mixed-use project might be in the offing. The new soccer team, backed by an investor group that includes the founding partners of Buccini/Pollin, will move into a 20,000-seat waterfront stadium and entertainment complex adjacent to the residential and commercial complex. Buccini/Pollin also owns the Wharf at Rivertown in Chester. The company acquired and redeveloped a former power plant along the river. The project included an environmental remediation phase. Today, the Wharf is 99 percent leased and home to tenants such as Wells Fargo Auto Finance, AdminServer and SIG. Not far from either project is the new Harrah’s Chester Casino & Racetrack. Over the years, Buccini/Pollin has acquired or developed nearly $3 billion in assets including 6 million square feet of office, industrial and retail space in 64 buildings, 3,200 hotel rooms in 17 hotels, six major residential communities and 1,200 covered parking spaces.