Center City Philadelphia

Contact Information:
Linda Harris, Director of Communications & Publications
lharris@centercityphila.org
215.440.5546

Release: Center City District receives $15 Million Grant for Dilworth Plaza Renovation

Report: Center City Reports: Transforming Dilworth Plaza | 2009 | 6 pgs | PDF (2 MB)

Dilworth Plaza Fact Sheet

Funding

Design

$900,000 - William Penn Foundation

$800,000 - John S. and James L. Knight Foundation

$500,000 - Center City District

$76,000 - contributions from individuals and adjacent property owners

Construction

Committed

$15,000,000 - Federal TIGER grant

$15,500,000 - Commonwealth Redevelopment Assistance Capital Program grant, to be matched by the by the TIGER Grant and with a bank qualified, tax-exempt loan that the CCD has secured from PNC Bank.   This credit facility can serve as bridge, construction financing for the project until such time as other commitments are secured and can serve as the final financing for any remaining funding gaps.  

Pending

$10,000,000 - City Capital budget (over two years)

$5,000,000 - SEPTA (estimated contribution for work to be designed and constructed by CCD that will benefit SEPTA’s station work)

$5,000,000 - John S. and James L. Knight Foundation (over two years)

$5,000,000 - Additional private foundations/contributions

Uses (estimated)

$3,000,000 - Project and construction management

$9,000,000 - Plaza infrastructure

$6,500,000 - Concourse level improvements

$3,200,000 - Station improvements and connections

$20,600,000 - Plazas, landscaping and public improvements

$8,050,000 - Buildings and structures (including headhouses)

$2,000,000 - Construction documents

$2,650,000 - Contingency

$55,000,000 - TOTAL

Schedule

March 2011 - Completion of construction documentation; final approvals obtained

April 2011 - Preparation of bid documents

June 2011 - Award bid

Summer 2011 - Construction begins

Fall 2013 - Construction completed

Design Team

Urban Engineers (Prime)

KieranTimberlake, architects

OLIN, landscape architects

CVM Engineers, structural

CMS Collaborative, fountain consultant

Sustainability

• 76 new trees will increase tree canopy by 26%, reduce ambient temperature by 2 degrees, and allow for a reduction of stormwater into the combined sewer system of 84,892 gallons annually over the entire site.
• The new trees will also help remove air pollution from the site, estimated at 12.92 pounds of ozone/year, 19 pounds of particulate matter/year, 6.84 pounds of nitrogen oxide/year, 6.84 pounds of sulfur oxide/year and 1.52 pounds of carbon monoxide/year.
• Design reduces by 38% the current 112,000 sf of impermeable paving by adding 14,600 sf of permeable paving.
• Design increases to 27,600 sf the amount of planted area from 6,643 today
• The irrigation system will utilize a 36,000-gallon cistern that is designed to meet 100% of the site’s irrigation needs, eliminating the need for potable water.
• 5,000 square feet of wall finish in the new concourse will be salvaged granite from the existing plaza.
• No cooling or heating will be provided in the concourse, as the 285 square foot openings at each transit entry at the plaza level will be used for natural ventilation of the concourse level and the pavilions.

Economic Impact

• Based on an analysis performed for the CCD by the Econsult Corporation, the $55 million in one-time construction expenditures to create Dilworth Plaza will create 1,060 jobs and nearly $40 million in wages over the 30 month construction period and generate an additional $122 million in total economic output for the Commonwealth of Pennsylvania, including more than $72 million in indirect and induced expenditures by the individuals and firms engaged to build the project
• The $55.0 million in one-time construction expenditures will generate over $780,000 in municipal taxes, including $430,000 in wage taxes, $96,000 in sales taxes and $254,000 in business privilege taxes over the 30-month construction period.
• The ongoing operation and maintenance of the plaza, café and new transit station entrance will generate $21,000 in annual tax revenue for the City, including over $11,000 in wage tax revenue, nearly $5,000 in sales taxes, and $5,000 in business privilege tax revenue.
• The cafe will create 13 jobs and generate over $0.2 million in wages and salaries.
• This project is projected to increase property value by more than $130 million – 10% to buildings fronting on the plaza 2% to properties within a quarter mile; 1% to properties ½ mile away
• The implied increase in assessed value is nearly $30 million, for an increase in property tax collections of more than $2.6 million per year

Misc.

• 150,000 workers, 32,000 residents and 7,316 hotel rooms are located within a 15-minute walk of Dilworth Plaza.
• Weekday transit ridership at the site is estimated to increase by approximately 524 riders, or 150,000 per year.