Reintroducing Productive Uses to an Abandoned Site in North Philadelphia

Urban Redevelopment: Logan Triangle, Philadelphia

Project

Urban Redevelopment: Logan Triangle, Philadelphia

Location

Philadelphia, PA

Client

Philadelphia Redevelopment Authority

AKRF’s Economic and Real Estate Advisory Services group recently advised the Philadelphia Redevelopment Authority on reintroducing productive uses to North Philadelphia’s Logan Triangle area, where unstable soil conditions triggered the demolition of over 1,000 homes in this now-vacant 35-acre site.

Our scope of services included:

  • Conducting a market analysis to identify viable uses
  • Creating a development program
  • Recommending a redevelopment strategy
  • Preparing a pro forma analysis to determine the financial viability of tested development scenarios
  • Evaluating alternative financing options
  • Assisting with the developer solicitation process

In addition, our economists worked closely with AKRF’s water quality specialists to incorporate green stormwater infrastructure in open areas designated for community use.

Economics Overview