Caterer Joseph Volpe and Bart Blatstein, the developer known for the Piazza at Schmidt’s amongst other projects that have helped redevelop neighborhoods throughout Philadelphia, signed a contract with Exelon Corp to purchase the former Peco plant on the Delaware. The property neighbors Penn Treaty Park and features a 1,000 foot water front and river pier. The price has not been commented on by either side.
Joe DiStefano of The Inquirer reports that the property boasts 300,000 sq. ft. of vacant structures, including a power plant designed by architect John Windrim and erected shortly after World War I on the site of 1800s-era shipyards; and 16 acres, part of which is underwater.
“It’s a one-of-a-kind property,” said Blatstein. “The main building includes a couple of 35,000 sq. ft. skylit spaces with 55-foot ceilings that could make spectacular event locations.”
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