Since the project's October 2023 groundbreaking, HRP continues to transform the former industrial site in South Philadelphia into a state-of-the-art innovation, manufacturing, and logistics campus. Structural steel construction of a 325,659 square-foot building will start in late April and is expected to be the first to be completed by the end of 2024. The Bellwether District will provide South and Southwest Philadelphia a cleaner environment, more economic opportunity and, ultimately, a stronger community.
"The entire HRP team is excited to see the vision of The Bellwether District transforming into reality," said HRP CEO Roberto Perez. "This is a generational opportunity for the city that started it all, and we are proud to contribute to Philadelphia's ongoing development."
Plans are also underway to commence construction on a second structure, a 727,272-square-foot Class A industrial building currently in its final permitting stages. With rough grading of the building pad nearing completion, vertical construction is expected to begin in the middle of 2024.
In addition to vertical construction, HRP will begin work on significant infrastructure improvements to provide unprecedented access to The Bellwether District and surrounding transportation assets, including PhilaPort and the Philadelphia International Airport. These ongoing enhancements will strengthen access to surrounding infrastructure, creating new opportunity for an array of industries and users.
"We are building The Bellwether District to become an ecosystem for businesses to call home, innovate, grow, and create jobs," said HRP Chief Investment Officer Andrew Chused. "Bringing industry and opportunity to South and Southwest Philadelphia in a cleaner and more sustainable manner benefits our neighbors, the city and the region, and HRP is thrilled to be a part of that mission."
The Bellwether District is a transformational redevelopment project on the former Philadelphia Energy Solutions refinery site and will be home to an estimated 14-million-square foot campus designed to accommodate companies across multiple industries. The project is poised to strengthen Philadelphia's position as a life science and innovation hub while also bringing supply chain logistics, manufacturing, cold storage, port, and rail uses to an area near transportation infrastructure that allows access to 47 million consumers within a four-hour drive. The Bellwether District is projected to create 19,000 permanent jobs, serving as a driver of economic development for the city, region, and surrounding communities.
For more information, please visit thebellwetherdistrict.com.
About Hilco Redevelopment Partners (HRP):
HRP is a vertically-integrated real estate investment and redevelopment company that re-imagines, remediates, and redevelops obsolete industrial sites by taking a holistic approach to development that prioritizes economic, community and environmental sustainability. HRP's redevelopment expertise ranges from modern logistics and distribution facilities to innovation campuses and urban, mixed-use projects. HRP strives to transform not only properties but also the areas surrounding them through a comprehensive approach to community engagement, environmental sustainability, and economic development. HRP is part of the international financial services holding company, Hilco Global (www.HilcoGlobal.com), which is headquartered in Northbrook, Illinois (USA).
SOURCE Hilco Redevelopment Partners
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