Hilco Redevelopment Partners plans more than 50 buildings on the 1,300-acre site, one of the largest redevelopment projects in recent Philadelphia history.
Work on the former PES Refinery in South Philadelphia in 2021. Hilco has dismantled all of the old fuel tanks, and on Tuesday broke ground on its first new building.On the western edge of South Philadelphia, what was once the East Coast’s largest oil refinery is no more.Now Hilco Redevelopment Partners is beginning construction on the opening phase of what promises to be a very long transformation into industrial space and life sciences labs.new buildings planned for this 1,300-acre site.
“Very rarely can you acquire this much land in such a great city to be able to transform it,” said Andrew Chused, Hilco’s chief investment officer. “But we have to put in all new infrastructure. It needs everything.” Far from the leveled ground where the foundation of the new warehouse is being dug, closer to the airport, the bracing smell of petrochemicals lingers as remediation continues. Hilco projects that their plans will generate 28,000 construction jobs over the lifetime of the project and 19,000 permanent jobs — many of which will not require college degree. The refinery employed 1,000 people in its final decades.
The city’s influential building trades unions see the potential for a lot of work for a long time. That’s especially welcome as Philadelphia’s construction permitting has slowed to a trickle given the. “It gives us a great space given that traditional office may be a little different now since COVID, and the things that Hilco is trying to bring will be quite resilient even interest rates.”
Capozzi and her allies are calling for a Special Services District like the one created to manage the sports stadium area to ensure planning and engagement around the Bellwether District into the future.
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