Search
 

Three Delaware River Projects Get $30M Boost

PHILADELPHIA-The long-awaited Simon project at Penn's Landing and the proposed Philadelphia World Trade Center get a $30-million kick-start from the Delaware River Port Authority. DRPA also approves a $500,000 loan guarantee for research on how to recycle old ships.

By Marita Thomas | Updated on June 20, 2002

PHILADELPHIA-The Delaware River Port Authority has approved funding for three projects along Philadelphia’s eastern Delaware River boundary. Two of them, the Simon Family Entertainment Center at Penn’s Landing and the Greater Philadelphia World Trade Center, have been in limbo.

DPRA approves $16 million in equity financing for the $300-million Penn’s Landing entertainment center to be developed by Simon Property Group. The funds are to assist in construction of the site’s Please Touch Museum, an amphitheater and a tram to link the two sides of the river.

The DPRA financing is contingent on Indianapolis-based Simon getting the long-delayed project off the ground.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.