We’ve reported on several occasions about the ongoing redevelopment of the former Delaware Generating Station at 1325 Beach Street along the Delaware River in Fishtown. Every time we pass by the site, it seems like more progress is happening on the exterior of the existing building. Back in February, zoning permits were issued for a 2-story addition to the historic building and for the creation of 300+ residential units and 89 parking spaces.
We now have more information about the developer’s current and future plans for the 11.7 acre site, which will be called The Battery. 200,000 square feet of office space will be included in the former power plant building. 50,000 – 100,000 square feet of the office space will be reserved for an anchor tenant. The rest of the space will be divided into smaller units and some will be set aside for co-working spaces. The offices will boast 50 foot ceilings in some areas, skylights, river views, and a ton of amenities including a cafe, rooftop garden, and a gym. The businesses that move into this complex will also be able to take full advantage of the Keystone Opportunity Zone and Qualified Opportunity Zone tax benefits.
Phase 1 of the project will include a surface parking lot on the north side of the site. However, it looks like the owners plan on developing that section of the property in the future. Their current future plans for the north side include several modern buildings surrounded by public space. These plans will likely evolve over the years as the rest of the property is activated.
Other notable plans for the Delaware Generating Station include restaurants, a performing arts space, and a concert barge. The plans also call for a promenade along the Palmer Street side of the building and to beautify Palmer Street and Columbia Avenue on the river side of Delaware Avenue. The whole stretch of waterfront will be hardscaped and programmed with bike trails, tiered seating, and other amenities. Plans also call for activating Pier 61 with the potential future use as a pool club and ice skating rink. We imagine the pool and ice skating rink would need to be on a barge, but have not hear about how these will be logistically included.
This is a megaproject that will take years to be fully completed and the plans will continue evolve over time. One thing is for sure, though. This development is going to have a huge, positive impact on the Fishtown riverfront. A blighted, abandoned building that has been fenced off for years is being turned into a space to live, work, play, exercise, and relax. We’re extremely excited to see this property transform over the coming years.
How do you feel about this project and what would you like to see included here?
Kyle is a commercial real estate agent at Rittenhouse Realty Advisors, a homeowner, and a real estate investor in Philadelphia. Kyle uses his extensive Philadelphia real estate market knowledge to help his clients buy and sell multifamily investment properties, development opportunities, and industrial sites.
Email Kyle@RittenhouseRealty.com if you are looking to buy or sell a property