PHILADELPHIA, Oct. 25, 2021 /PRNewswire/ -- Hilco Redevelopment Partners (HRP), an operating company within Hilco Global, has announced a new brand and identity for the former PES refinery in South Philadelphia. The 1,300-acre South Philadelphia property will now be called The Bellwether District thebellwetherdistrict.com. The Bellwether District will become an economic engine for the city of Philadelphia, driving change and inclusive growth by bringing thousands of jobs through future tenants in life sciences, e-commerce, and logistics.
The Bellwether District is a once-in-a-lifetime project benefiting from HRP's transformative and holistic approach to redevelopment. The property encompasses 2% of the land mass of Philadelphia and will soon be home to global leaders in e-commerce, logistics and life sciences, creating new economic opportunities for local businesses and residents. As an employment hub, it will generate an estimated 19,000 permanent jobs over 15 years and create a path to long-term professional opportunities for Philadelphia and the surrounding region's residents. The new District will uphold high standards of sustainability and write the next chapter in the history of a 150-year-old property.
The name, a result of extensive research, reaffirms Philadelphia's role as an innovator and achiever of many firsts for the country from the first library, hospital, and medical school to the birthplace of a new nation. Philadelphia is and continues to be a driver of what's new and what's next. With a tagline of, "Next Starts Here," The Bellwether District will transform the property to create opportunities for local residents and foster meaningful connections between the City and the District. Four new city streets are being created, two of which will pay homage to historic African American Philadelphians: James Forten, a Philadelphia businessperson and abolitionist, and Frances Harper, one of the first African American women to be published in the U.S.
"Nowhere is the story of re-creation and re-envisioning being played out more dramatically than it is here at The Bellwether District in Philadelphia," says Roberto Perez, CEO of HRP. "The Bellwether District is a holistic, thoughtful reimagining of post-industrial property into a cleaner, greener, and more sustainable workplace for generations of people and businesses."
To build meaningful and lasting relationships with the community, The Bellwether District continues to make significant investments and conduct outreach to its nearby neighbors and the wider Philadelphia region. Since acquiring the property in June 2020, HRP has launched several annual traditions such as coat drives and turkey giveaways that will continue under The Bellwether District moniker. In the past year alone, HRP donated 3,000+ coats and winter accessories to Philadelphians in need; participated in numerous city clean-up days collecting trash; and donated 1,000 turkeys in partnership with Philadelphia City Council to Philadelphians. HRP also established the Career Connected Learning System with the School District of Philadelphia to prepare hundreds of students for their future careers. In the summer of 2021, HRP welcomed 40 young Philadelphians into its internship program, which focuses on career technical and education projects. The Bellwether District plans to remain engaged and supportive of its hometown in the coming years, building upon these efforts and striving to be a good neighbor.
The Philadelphia area can expect to see The Bellwether District in action starting this week through its partnership with the Philadelphia Eagles, including various billboards and radio spots featured on Eagles Radio Network. SEPTA buses and various stations will also be branded to celebrate the official unveiling of The Bellwether District in addition to billboards on I-95, Penrose Ave, the Schuylkill Expressway, and other major commuting routes.
This Saturday, October 30 from 3 to 7 p.m., The Bellwether District will join Representative Jordan A. Harris, 186th District of Philadelphia and hundreds of community members for "Boo on the Breeze" on the 1300--1500 blocks of Point Breeze Ave., celebrating its transformative vision for South Philadelphia and offering the community a safe way to have a happy Halloween.
For more information on The Bellwether District, please visit thebellwetherdistrict.com or Facebook (@TheBellwetherDistrict), Twitter (@TheBellwetherDistrict), Instagram (@TheBellwetherDistrict), and LinkedIn (TheBellwetherDistrict).
About Hilco Redevelopment Partners (HRP): HRP is a vertically integrated real estate investment and redevelopment company that reimagines, remediates, and redevelops obsolete industrial sites across the United States with a uniquely holistic approach to development that prioritizes economic, community and environmental sustainability.
HRP's redevelopment expertise ranges from modern logistics and distribution facilities to urban, mixed-use projects featuring residential, commercial, life science, and retail uses. HRP strives to transform not only properties, but also the communities surrounding them through a comprehensive approach to community engagement, environmental sustainability, and economic development.
HRP is headquartered in Chicago with offices in Boston, Philadelphia, New Jersey, and Miami. Since inception, HRP has acquired assets valued in excess of $3.0 billion and its current portfolio includes over 20 million square feet of existing buildings and future development assets. In addition to its internal capital, HRP also invests external capital through joint ventures with real estate private equity funds, institutional investors, and family offices. HRP is an operating company within Hilco Global. To learn more about HRP, visit hilcoredev.com.
About Hilco Global: Hilco Global (www.hilcoglobal.com) is a privately held diversified financial services company and the world's preeminent authority on maximizing the value of assets for both healthy and distressed companies. Hilco Global financial services leverage a unique blend of deep restructuring and advisory experience with capital solutions and principal investing. Hilco Global delivers customized solutions to undervalued, high potential companies to resolve complex and stressed situations and enhance long-term enterprise value. Hilco Global operates as a holding company comprised of over twenty specialized business units that work to help companies understand the value of their assets and as needed monetize the value. Hilco Global has almost 4 decades of a successful track record of acting as an advisor, agent, investor and/or principal in any transaction. Hilco Global works to deliver the best possible result by aligning interests with clients and providing them strategic insight, advice, and, in many instances, the capital required to complete the deal. Hilco Global is based in Northbrook, Illinois and has 700 professionals operating on five continents and has offices located in Boston, Chicago, Detroit, New York, Philadelphia within the USA.
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