[CPEO-MEF] REUSE: "Philly Navy Yard [PA] Plans $6B Development"

[Lenny Siegel <LSiegel@cpeo.org>]

Philly Navy Yard Plans $6B Development
New 20-year plan includes 4M SF of multifamily, 4.3M SF of offices, labs, biotech manufacturing.

By Jack Rogers
GlobeSt.com
July 8, 2022 

In the first update of its master plan since 2013, the Philadelphia Navy Yard has unveiled an ambitious blueprint for new development including almost 9M SF of mixed-use space in projects estimated to be worth up to $6B.

Last summer, PIDC, Philadelphia’s public-private economic development corporation and master developer of the Navy Yard, chose a joint venture of Ensemble Real Estate Investments and Mosaic Development Partners (Ensemble/Mosaic) to update the master plan for the Navy Yard.

The deal included a $2.6B commitment from Ensemble/Mosaic to develop 109 acres of the 1,200-acre Navy yard campus. The joint venture said $1B of its investment in the Navy Yard would be targeted for diversity, equity and inclusion (DEI) initiatives.

Ensemble/Mosaic chose James Corner Field Operations to design the master plan update, a 20-year blueprint that calls for a total of 4M SF of multifamily space, 2.8M SF of office and lab space, 1.5M SF of life sciences manufacturing, 440K SF of hospitality, 235K SF of retail and 1.6M SF of public space.

…

For the entire article, see
https://www.globest.com/2022/07/08/philly-navy-yard-plans-6b-development/?slreturn=20220608203935

—

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
A project of the Pacific Studies Center
LSiegel@cpeo.org
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650-961-8918
http://www.cpeo.org
Author: DISTURBING THE WAR: The Inside Story of the Movement to Get Stanford University out of Southeast Asia - 1965–1975 (See http://a3mreunion.org)

_______________________________________________
Military mailing list
Military@lists.cpeo.org
http://lists.cpeo.org/listinfo.cgi/military-cpeo.org