LOGAN TRIANGLE - Goldenberg Development · OPPORTUNITIES OF SCALE With its unique and marketable...
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LOGAN TRIANGLE
Transcript of LOGAN TRIANGLE - Goldenberg Development · OPPORTUNITIES OF SCALE With its unique and marketable...
LOGAN TRIANGLE
LOGAN: PHILADELPHIA’S NEXT REDEVELOPMENT SUCCESS STORY
From the Navy Yard to the Avenue of the Arts and the
Stadium District to East Passyunk Avenue, critical public-
private partnerships have used public support to leverage
private development. These partnerships have been
instrumental in transforming blighted areas into the
City’s most vibrant commercial, entertainment and
neighborhood districts. Logan is ready to be
Philadelphia’s next redevelopment success story.
Asian or other race
LoganTriangle
LOGAN TRIANGLE: THE STORY OF A SINKING COMMUNITY From the late 1800s to the 1920s, the City of Philadelphia looked to ex-
pand outward and paid private contractors to dump uncompacted coal
ash and cinder into several areas of the City, including the site known
as Logan Triangle – a vicinity north of Center City bounded by Loudon
Street to the north, 6th Street to the east, Roosevelt Blvd. to the south
and 11th Street to the west. The Wingohocking Creek was redirected
and culverted and the low areas of the site were filled with ash. Soon
after, City officials made the catastrophic decision to build nearly one
thousand homes on the site. A viable community was formed and for
nearly three decades it prospered without incident.
By the 1950s, it became evident that this entire community was
physically falling apart. Homes were literally sinking into their
foundations. Sidewalks were cracking. Porch steps stood higher than
their respective porches as they fell deeper into the earth. Pleas from
the community for a solution were never addressed. Thirty years later,
a subsurface line explosion on Valentine’s Day 1986 completely
destroyed two homes and exposed exactly how unstable the ground
below was. The neighborhood would never recover. The protracted
process to clear the area took over fourteen years and, as the City
worked to relocate residents, Logan Triangle gradually became a
vacant, blighted, 40-acre liability. Currently, rubble from the fallen or
demolished homes, crumbled roads and crushed sidewalks, are all
that remain as indicators of the past. This once vibrant community has
endured a century-long legacy of improper development, displacement
and broken promises.
WHAT DOES THE LOGAN TRIANGLE LOOK LIKE TODAY?Displacement of Logan
Triangle residents resulted
in decades of economic
hardship for the
surrounding community.
A RARE CHANCE TO CREATE OPPORTUNITIES OF SCALE
With its unique and marketable site attributes, Logan Triangle represents a significant opportunity as one of the last and largest undeveloped parcels in the City where significant investment will yield significant impact. It is centrally located in the City and has excellent visibility and accessibility, making it an ideal location to draw from, or distribute to, the entire City.
Logan is primed to be the next revitalized neighborhood in Philadelphia. The site presents an opportunity for a significant public-private partnership with the ability to be transformative for the larger community. Enhancement of the readily available bus and trolley routes will promote more transit-oriented development and make the Logan neighborhood an ideal location for business, residential and commercial development.
COMMUNITYThe Logan community has seen
crime increase and its streets and
parks crushed by litter and illegal
dumping. Funding for after school
programs has waned and overall
opportunities for young people are
few and far between. Local jobs are
at an all-time low. Over the years,
the community has engaged in
extensive dialogue, deliberation
and research concerning the
priorities for their neighborhood.
THESE NEEDS INCLUDE:
JOBS AND JOB TRAINING
GREENSPACE
YOUTH ENRICHMENT
HOUSING REVITALIZATION
POPULATION
28,674
1,514,456
IN LOGAN
IN PHILADELPHIA
$30,416 $33,852
MEDIAN HOUSEHOLD INCOME
IN LOGAN IN PHILADELPHIA
ECONOMY
18.38%UNEMPLOYED
IN LOGAN
9.60%UNEMPLOYED IN PHILADELPHIA
VS
18,718 RESIDENTS IN THE LABOR FORCE
0% 80% 100%
RACIAL CHARACTERISTICS
41.5%43.7%
81.1% 10.6%
20% 40% 60%
PHILADELPHIA: 43.7% BLACK, 41.5% WHITE, 14.8% ASIAN OR OTHER
WHITE
ASIAN OR OTHER
AFRICAN AMERICAN
LOGAN: 81.1% BLACK; 10.6% WHITE, 8.3% ASIAN OR OTHER
Information, provided by Wallace Roberts & Todd (WRT), is based on aggregated census tract data which includes parts of other neighborhoods with a total populations estimate of 32,299 (differs from exact neighborhood population of 28,674)
LOGAN POINT: A NEW VISION FOR THE COMMUNITY
The current administration of the City of Philadelphia
is committed to this neighborhood. The Philadelphia
Redevelopment Authority selected The Goldenberg
Group to revitalize Logan Triangle — and plans are
now underway to make it a vibrant community for its
residents. The Goldenberg Group envisions turning
the page on Logan Triangle’s history and establishing
an invigorated and thriving “Logan Point” through the
creation of new business and commercial opportunities,
youth development programs, and jobs.
Based on the needs identified by the community,
The Goldenberg Group intends to blend commercial,
community for-profit and not-for-profit uses to
generate economic benefits for Logan Point and
the neighboring areas.
The initial use identified to lead the Logan
revival is a bold community development and
engagement initiative: The first tenant of the project
will be a $25 million sports and educational facility,
which will be home to Philadelphia Youth Basketball
(PYB). Modeled after the Arthur Ashe Youth Tennis and
Education program (now “Legacy Youth Tennis”),
PYB will offer a highly structured and holistic
approach to youth development.
PROMOTING AND CELEBRATING THE NEIGHBORHOOD’S RICH HISTORY
CREATING A SOURCE OF PRIDE FOR THE LOGAN COMMUNITY
BUILDING UPON EFFORTS MADE TO DATE
CONNECTING WITH THE SURROUNDING COMMUNITY
The Goldenberg Group has the experience
to take on the complexities of developing
Logan Triangle including the geotechnical
condition of the soil and the environmental
remediation necessary to build upon it.
As with any project of this magnitude,
with such extraordinary and costly site
redevelopment challenges, public
funding participation will be critical
to its advancement.
KEY ELEMENTS OF THIS EFFORT INCLUDE:
THE GOLDENBERG GROUP HAS THE EXPERIENCE TO TAKE ON THE COMPLEXITIES OF DEVELOPING LOGAN TRIANGLE.
As evidenced in other areas of the City,
successful development in this neigh-
borhood will eliminate blight, rejuvenate
housing and spur continued community
reinvestment. It will improve safety and
security for residents and area businesses,
create jobs and build our city’s workforce.
The success of ParkWest Town Center,
located at 52nd and Jefferson Streets, is a
great example of how an economically de-
pressed neighborhood can be transformed
through public-private partnerships and
active community engagement. Once
considered a food desert, ParkWest is
now one of the largest retail projects to be
completed in any Federal Empowerment
Zone in Pennsylvania. Today, it continues
to be a major economic driver for the area.
The Goldenberg Group sees great
potential for Logan Triangle to become
the City’s next public-private partnership
success story.
Restoring Logan’s vibrant, diverse, unique
and historically significant community will
stabilize the neighborhood, build pride, and
strengthen Philadelphia as a whole. With
a new Mayoral Administration, the strong
will of the Philadelphia Redevelopment
Authority, a developer with the experience
and expertise to create transformation,
a committed community base, and the
momentum of a key community partner
– the opportunity is ripe and the time to
revitalize Logan is now.
IT’S TIME FOR A NEW ERA AT LOGAN.
REVITALIZING LOGAN IS NOT JUST A GOOD OPPORTUNITY – IT’S THE RIGHT THING TO DO
Since 1984, The Goldenberg Group has built a reputation as one of Philadelphia’s top developers of complex, transformative real estate projects. Originally specializing in the development of signal, open-air shopping centers, such as the Metroplex in Plymouth Meeting, Columbus Commons IKEA shopping center in Southeast Philadelphia, and ParkWest Town Center in West Philadelphia, more recently it has matched that reputation in the development of high-end con-dominiums (The Ayer on Washington Square), high-end homes (Haverford Reserve on the Main Line), and student housing (The View at Montgomery at Temple University). Even more signifi-cantly, in the process, it has created thousands of jobs, generated consider-able tax and sales revenue streams, performed extensive environmental remediation, and improved wide- ranging local infrastructures.
The Goldenberg Group’s primary commitment remains positive trans-formation through its real estate and entrepreneurial activities, its community partnerships, and its on-the-ground charitable activities in the United States, Africa, and beyond.
RESTORING LOGAN’S VIBRANT, DIVERSE, UNIQUE AND HISTORICALLY SIGNIFICANT COMMUNITY WILL STABILIZE THE NEIGHBORHOOD, BUILD PRIDE, AND STRENGTHEN PHILADELPHIA AS A WHOLE.
ANNUAL FESTIVAL AT PARKWEST
