After months of delay, plans to revitalize Penn's Landing are finally progressing.
Recently, the field of firms competing to renovate the 13-acre site along the Delaware River was narrowed from four to two, with Tower Investments, Inc. and Brandywine Realty Trust of Plymouth Meeting advancing to the final round.
The selection committee, appointed by Mayor John Street in September, had been debating among the four plans since the group's inception. Its members include Chairman Leonard Ross, a former law partner of Mayor Street, and former Penn's Landing Company President Dominic Sabatini.
Street announced the competition finalists last week, telling The Philadelphia Inquirer that Brandywine and Tower Investments "are significantly in conformance with our plan and our interest in developing Penn's Landing."
Both firms' blueprints entail the development of office and residential buildings, restaurants, shopping complexes and open space.
Street also denied any personal role in the decision-making process.
The winner of the design contest is slated to be announced in April. Until then, revisions and updates will be made on the plans in accordance with government regulations and subsidies.
Bart Blatstein, chief executive of the Philadelphia-based Tower Investments, was satisfied with the outcome.
"I'm thrilled," Blatstein said in the Inquirer. "We will reanalyze the project and respond as requested."
Philadelphia students were also enthusiastic about the revitalization of Penn's Landing, regardless of the eventual winning firm.
Penn Engineering senior Ammar Nasir noted the benefits of increased shops and restaurants.
"There's only so many places in Philadelphia you can hang out," Nasir said. "More places wouldn't hurt."
One of the teams eliminated from the contest was led by Philadelphia builder Daniel J. Keating III, whose plan called for the erection of an indoor water park and amusement park-type ride.
George Burrell, Street's secretary, cited questions of financial viability as one of the main concerns surrounding Keating's plan.
Atlantis New York Group, Inc., the other company cut from the race, proposed a plan of almost $3 billion calling for the takeover of certain sections of I-95.
However, this design was also scrapped, as officials were unsure whether such a costly plan could be realistically executed.
President and Chief Executive Officer of Brandywine Jerry Sweeney could not be reached for comment.
