The Philadelphia Industrial Development Corporation released a plan weeks ago to revive 3,700 acres of Philadelphia's Lower Schuylkill River, and industrial area that has long been home to oil refineries and scrap metal yards. On May 21, the Philadelphia Planning Commission adopted the Lower Schuylkill Master Plan, which seeks to turn the area into a thriving manufacturing hub.
The Innovation District located in the northwest portion, will be reserved for education and research related businesses along with artisanal manufacturers. The University of Pennsylvania's new South Bank Campus, occupying 23-acres of the new district, is already in sync with PIDC's mission for the area and is geared towards academic research and commercial endeavors. The Logistics Hub, located south of the Innovation District and mostly on the West Banks, will provide space for distribution, warehousing, and manufacturing. To the east, the Energy Corridor will sustain and build upon its current use as a site for oil refining by attracting additional investment.
Although the plan will develop gradually over time, the PIDC anticipates an economic impact of 463 billion and yield $860 million in private investment. The University of Pennsylvania has enlisted the help of local planning firm Wallace Roberts and Todd (WRT) to sketch out long and short-term objectives for the campus. Richard King, senior associate at WRT, said that immediate planning will entail improving the street-scape to provide better connectivity between the South Bank campus and the Main campus as well as improving existing structures.
Check Out the Full Master Plan Here!