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CHESTER, PA-The Buccini/Pollin Group is planning a $500-million mixed-use project on the waterfront here, an area already rife with significant development activities. Construction will begin in the fall on the project, which will deliver in phases over the next five years. “The master plan promises to transform abandoned brownfields into a destination that will be the catalyst to a city’s renaissance,” Rob Buccini, managing partner with Buccini/Pollin Group, says.

Other details of the master plan include the development of approximately 180 townhomes, 225 apartment units, 42,000 sf of retail, including an 8,000-sf restaurant, 435,000 sf of new office and a 200,000-sf convention center. There will also be structured parking providing 1,350 spaces, a community marina and greenways on the 70-acre site.

The development will be next to the soon-to-be constructed 20,000-seat waterfront stadium and entertainment complex. Recently, Major League Soccer awarded Philadelphia the league’s 16th franchise. The new team, which is backed by an investor group that includes the founding partners of the Buccini/Pollin Group, will be housed in the stadium, which is expected to be completed in 2010 along with new ramps to the waterfront from Interstate 95.

The Buccini/Pollin Group first invested in Chester in 2005 with its acquisition and renovation of a former power plant on the Delaware River, which had tax advantaged status as it is in the Keystone Opportunity Zone. Today, the Wharf at Rivertown is 99% leased and home to such tenants as Wells Fargo Auto Finance, AdminServer and SIG. With this latest project, the developers will be receiving public subsidies from the Commonwealth and an infrastructure development grant from the Delaware River Port Authority.

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