Wolf Administration Announces New Investment to Develop New Mixed-Use Urban Center in North Philadelphia
Harrisburg, PA – Today, Department of Community and Economic Development (DCED) Secretary Dennis Davin announced a new Pipeline Investment Program (PIPE) project approval through the Commonwealth Financing Authority (CFA), to extend high-pressure gas lines to redevelop the North Station Transit neighborhood in the City of Philadelphia.
“The PIPE program helps create jobs, lower energy bills, and take greater advantage of the natural gas right under our feet, and this investment will allow the City of Philadelphia to realize those benefits for years to come,” said Sec. Davin.
North Station District, LLC (NSD) plans to redevelop the North Station Transit neighborhood into a new urban center In North Philadelphia anchored by an innovative technology campus. The goal is to help facilitate a more prosperous community, providing much needed neighborhood amenities to existing and future residents. The area will offer a vibrant mix of uses connected through pedestrian oriented streets, plaza, and park spaces. A seven-story mixed-use building will house 135 market rate rental units and 6,700-square-feet of retail below. An adjacent building is anticipated to be constructed to house 138 units and 214,000 square feet of office space.
The high-pressure gas lines will extend 1,227 feet to supply gas to the full build-out of the NSD project. The project was approved for a $62,147 grant and will create 18 full-time jobs. The total project cost is $124,294, and NSD will contribute $62,147 In matching funds.
Though Pennsylvania has a vast network of natural gas pipeline infrastructure, some areas require funding assistance to construct the “last mile” of pipeline to extend that network to business and residents. Created in November 2016, PIPE provides grants to construct the last few miles of natural gas lines to business parks and existing manufacturing and industrial enterprises, which will result in the creation of new jobs in the commonwealth while providing access to natural gas for residents. Applicants eligible for PIPE funding include businesses, economic development organizations, hospitals, municipalities, and school districts.
Casey Smith, DCED, 717.783.1132