Radnor’s Brandywine Realty Trust Expected to Bid Billions on University City Project

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A conceptional rendering of the University City skyline.
A conceptional rendering of the University City skyline after completion of the 30th Street Station District overhaul (Image courtesy of Philly.com)

Radnor’s Brandywine Realty Trust is expected to bid on the redevelopment project of University City that is now estimated at $6.5 billion, writes Jacob Adelman for the Philadelphia Inquirer.

The project covers a wide area around 30th Street Station and will last more than three decades.

The financial projection was part of the planning team’s final blueprint for the 175-acre site. The publication of the 30th Street Station District Plan is the culmination of a two-year study led by Amtrak, Drexel University, Brandywine Realty Trust, SEPTA, and PennDot costing $5.25 million.

The study covered the redevelopment of the area between Walnut and Spring Garden Streets located east of Drexel’s campus and Powelton Village.

Brandywine Realty Trust expects to bid on the project alongside other developers, said Jeffrey Weinstein, Vice President for Construction.

The plan anticipates a massive 18 million square feet of new development, including enough housing for up to 10,000 residents. The planned commercial space is close to 1.2 million square feet and planners are hoping to secure a single tenant for that space as it will anchor the development.

Rina Cutler, Amtrak’s Senior Director for Major Station Planning, said that now concrete steps can finally be taken to start implementing the plan.

“We all ultimately knew that we wanted to create a process where the object of planning was action,” said Cutler.

Read more about the project in the Philadelphia Inquirer by clicking here.

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