Mixed-use project headed for Foxwoods casino site in Philly
A huge parcel of land on the South Philadelphia waterfront that has lain vacant for decades finally looks to have found its purpose.
Silver Arch Capital Partners announced today the closing of a $15 million land loan for two of the site's six parcels. The borrower used the loan proceeds to purchase the property on Christopher Columbus Boulevard, where plans for a Foxwoods casino died seven years ago.
Silver Arch’s plans for the 22.4-acre-property include luxury townhomes, a marina for recreational boating, a riverfront café, and retail.
Silver Arch CEO Jeffrey Wolfer envisions a destination neighborhood rising on the long fallow site.
"South Philadelphia is becoming a vibrant area where people want to live, work, and shop," Wolfer said. "This area is particularly valuable because it's the only developable piece remaining among the 1.2 million square feet of retail space along Christopher Columbus Boulevard.”
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Silver Arch Capital Partners announced today the closing of a $15 million land loan for two of the site's six parcels. The borrower used the loan proceeds to purchase the property on Christopher Columbus Boulevard, where plans for a Foxwoods casino died seven years ago.
Silver Arch’s plans for the 22.4-acre-property include luxury townhomes, a marina for recreational boating, a riverfront café, and retail.
Silver Arch CEO Jeffrey Wolfer envisions a destination neighborhood rising on the long fallow site.
"South Philadelphia is becoming a vibrant area where people want to live, work, and shop," Wolfer said. "This area is particularly valuable because it's the only developable piece remaining among the 1.2 million square feet of retail space along Christopher Columbus Boulevard.”
Connect with me on LinkedIn | Follow me on Twitter