The Philadelphia Housing Authority (PHA) has issued a Request for Proposals (RFP) to redevelop three lots along Chestnut Street. Chestnut Street has long experienced some difficulty attracting and retaining businesses and storefronts. However,
as previously reported in Flying Kite, successful residential communities have sprung up along the street in recent years.
Accoring to PHA President and CEO Kelvin Jeremiah, PHA has received several inquiries about the location in question, a vacant four-story building at 2012 Chestnut, and adjoining parcels formerly used for parking at 2014 and 2016 Chestnut. Executive offices in the four-story building relocated more than three years ago, and it has been unoccupied since.
At a time when retail development is growing in the district, it is important to mitigate vacancies.
"It's in the best interest to redevelop this property to help maintain a vibrant, healthy atmosphere in Center City," says Jeremiah.
Proposals for 2012, 2014 and 2016 Chestnut Street may include the demolition or rehabilitation of the current building at 2012 Chestnut. Mixed-use, office, commercial and residential use will all be considered for the project; the winner will best utilize all three lots.
Under the terms of the RFP, PHA will continue to own the ground at the site, leasing it to the developer. The developer will finance, plan, design, construct, own and operate the building or buildings.
Because the site is located in the Center City West Commercial Historic District, the winning developer must also comply with the historic review process.
The deadline for submitting proposals is February 7, 2014; PHA plans on awarding a development contract in May 2014.
Writer: Nicole Woods
Source: Kelvin Jeremiah, Philadelphia Housing Authority