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Philly WTC Plan Picked to Show at London Expo

PHILADELPHIA-The plan for the $700-million, 4-million-sf, mixed-use

By Marita Thomas | Updated on May 21, 2003

PHILADELPHIA-Waterfront Renaissance Associates’ plan for the development ofthe Greater Philadelphia World Trade Center is one of 11 waterfrontprojects, and the only one from the US, chosen by the Royal Institute of BritishArchitects to be featured at Waterfront Expo 2003 in London in October. WRA,the locally based affiliate partnership of New York-based Carl Marks & Co.,owns and is developing the 5.3-acre site along the Delaware riverfront inSouth Philly.

This March, WRA unveiled plans for the $700-million, 4-million-sf, mixed-useproject. It calls for a 42-story, 396-unit luxury apartment building; threeoffice facilities totaling 2.3 million sf, and 118,000 sf of retail space.

Among the key features that led to its selection for the expo are: theprivate/public partnership with Delaware River Port Authority to fundaspects of the project; the accumulation of zoning, tax incentives and other cityand state bonuses; and architectural plans that create stand-alone facilities asthe project is phased in and components are integrated. The selectioncommittee also cited the formula created to “internationalize” the area’seconomy.

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