The 67-acre Wharf at Rivertown project under development in Chester, PA by Conshohocken, PA-based Preferred Real Estate Investments, received $1 million to incorporate a river walk from Flower Street to the wharf on the Delaware River. The mixed-use project is at the site of Philadelphia-based PECO's former power plant.
Preferred is preserving the former PECO Gothic-style Chester power station and incorporating it into plans for a complex that includes 400,000 sf of office space, two marinas, a sailing regatta center, and a sports and recreation center along with retail and residential development.
The Rivertown redevelopment project is within a Keystone Opportunity Zone and a Pennsylvania state enterprise zone, which provide it with multiple grants and tax credits. Preferred estimates the total project will cost as much as $300 million.
Marcus Hook, which received a $1.5-million grant, is using the funding to create a streetscape between Route 13 and the Amtrak rail station in the borough. The project requires several businesses along Route 13 to pull back fencing in order to make way for Greenway landscaping and bike and pedestrian paths.
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