The Philadelphia Redevelopment Authority ("RDA") has preliminarily selected Global City to construct the "Terrace at Falls Bridge". This proposed $85 million development would consist of 172 condo units in four modern buildings ranging from four to twelve stories. A key feature in the design is a forty-foot wide public terrace that will run between Ridge Avenue and Kelly Drive. The public terrace will be flanked by 17,000 sq. ft. of retail space, likely to include a food store. The selection of the developer by the RDA Board is considered preliminary. Global City will need to negotiate a developer's agreement with the RDA and then secure necessary approvals for their project, including zoning.
Thursday, October 13, 2005
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