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Five-Tower Condo Complex Planned for Delaware Riverfront

PHILADELPHIA-The Peninsula, a 30-story tower, the first of five in Waterfront Square, a 780-unit condo development planned for 9.6 acres at Piers 36-39, begins marketing units priced from $220,000 to more than $1.5 million.

By Marita Thomas | Updated on October 13, 2003

PHILADELPHIA-Plans for Waterfront Square, a 780-unit, five-tower condominium complex on a 9.6-acre parcel at Piers 36 through 39 along the Delaware Riverfront, are under way. According to published reports, the construction cost is estimated at $280 million, and it will be built over five years.

The developer is a locally based partnership, Isle of Capri Associates, through G.S.R. Development, an affiliate of Israel-based B.S.R. Engineering and Development. The first of the buildings, the Peninsula, a 30-story tower on the southwest side of the parcel, is currently being marketed for an anticipated January 2004 groundbreaking.

This tower contains 129 units. The smallest one-bedroom is 760 sf and is priced at approximately $220,000. Three-bedroom penthouses are being offered at above $1.5 million. Units on the higher floors have 10-ft ceilings–those on floors 14 and below have 9-ft ceilings, and all have upscale cabinetry, appliances and fixtures.

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