Philadelphia, December 24, 2015 — Mayor Michael Nutter, the Philadelphia Redevelopment Authority (PRA), the Philadelphia Airport (PHL) and New Eastwick Corporation (NEC) have reached an agreement which will allow for a community planning process to develop 129 acres of land in Eastwick, settle an ongoing legal dispute between NEC and PHL, and will complete the largest Urban Renewal Project in the country’s history.
“I am extremely pleased an agreement was reached so that we may look forward to the future development that will take place in Eastwick section of the City,” said Mayor Nutter.
Since 1961, PRA has partnered with NEC to develop the Eastwick community in gradual stages. To date, NEC has developed approximately 3,000 homes and 1,100 apartment units, two shopping centers, 38 retail establishments, and a 1,000 room hotel/restaurant complex serving the Philadelphia International Airport.
In recent years, after multiple flooding events, members of the Eastwick community became increasingly concerned about the development plans for the final stage. Through the new agreement reached today, the final stage of development will be part of a new process, led by PRA and supported by the City, in which the community will have the opportunity to provide input.
“This closes the book on the largest urban renewal project in the country’s history,” said Brian Abernathy, Executive Director of PRA. “The PRA and the City will begin a community planning process and determine the best uses for these parcels. We hope the final development will be done with the community as a partner so the residents can be part of the process.”
PRA will begin the community planning process in cooperation with the City Planning Commission in Spring 2016.