Delaware River Development
Waldo the whale was quite a sight in 1995, when he was spotted in the Delaware River. It signaled that cleanup efforts were indeed positive. The 10-12 foot Beluga whale known as Helis caused an equal stir in the spring of 2005. Now developers have paid a visit, and they are deciding to stay. A 3-mile long section of the once global shipping center, will be transformed. Old warehouse sites will be replaced by casinos, restaurants, enhanced walkways and even a skating rink.
Democrat Governor Edward G. Rendell obviously saw an opportunity slipping through Pennsylvania State fingers. Land along the Delaware River has skyrocketed as developers (Donald Trump included) considered and some gobbled up available land.
On April 14, Rendell declared a moratorium as city leaders create an agency to oversee projects along the Delaware. Presently under consideration is a charge of 5% of the projects total cost to proceed.
Boston, Baltimore and Cleveland have plans in place for the development of their waterfront. Philadelphia's plans for a master plan fell apart in the 90's when real estate prices had plummeted.
Currently halted are condo projects, until the completion of a 4-month review. But given the go-ahead are the proposed casinos. Licenses for two slot parlors have been granted with hope for quick completion. How plump the State coffers become, since casino revenues will be taxed at 50%, remains to be seen. Development creates jobs. . . . . . . . jobs bring people. . . . . . . and people need housing.
Waldo the whale was quite a sight in 1995, when he was spotted in the Delaware River. It signaled that cleanup efforts were indeed positive. The 10-12 foot Beluga whale known as Helis caused an equal stir in the spring of 2005. Now developers have paid a visit, and they are deciding to stay. A 3-mile long section of the once global shipping center, will be transformed. Old warehouse sites will be replaced by casinos, restaurants, enhanced walkways and even a skating rink.
Democrat Governor Edward G. Rendell obviously saw an opportunity slipping through Pennsylvania State fingers. Land along the Delaware River has skyrocketed as developers (Donald Trump included) considered and some gobbled up available land.
On April 14, Rendell declared a moratorium as city leaders create an agency to oversee projects along the Delaware. Presently under consideration is a charge of 5% of the projects total cost to proceed.
Boston, Baltimore and Cleveland have plans in place for the development of their waterfront. Philadelphia's plans for a master plan fell apart in the 90's when real estate prices had plummeted.
Currently halted are condo projects, until the completion of a 4-month review. But given the go-ahead are the proposed casinos. Licenses for two slot parlors have been granted with hope for quick completion. How plump the State coffers become, since casino revenues will be taxed at 50%, remains to be seen. Development creates jobs. . . . . . . . jobs bring people. . . . . . . and people need housing.
posted by Helene Ashukian at
8:55 AM
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