PHILADELPHIA, Oct. 15, 2002 (PRIMEZONE) -- Penn's Landing Corporation is proud to announce the completion of the Dockside Residences on Pier 30 at Penn's Landing, a new asset for the Philadelphia waterfront and the City of Philadelphia. The official opening of Dockside, 242 luxury high-rise apartments, represents a new milestone in luxury living on the waterfront.
Dockside at Penn's Landing has the distinction of being the first high-rise residential development on the river in the city's history. This 16-story building, representing more than $80 million in private investment, is located at 717 South Columbus Boulevard in Philadelphia. Its unique architectural structure is the shape of an ocean liner at to highlight its exclusive location on the waterfront.
Dockside was the vision of Peter DePaul, president of the DePaul Group, a locally based company that developed and fully financed the project. Dockside features 242 apartments each with its own terrace and waterfront view along with state-of-the-art amenities including a full-time doorman and concierge, secured parking for more than 370 cars, an indoor swimming pool and a fitness center.
In the past decade, development of Philadelphia's central waterfront has steadily been moving forward with more than $160 million in new construction represented by the Dockside Residences at Pier 30 and the Hyatt Regency Philadelphia, as well as the opening of the restaurant Hibachi and relocation of the Moshulu to the Marina at Penn's Landing. In addition, Penn's Landing Corporation is preparing to announce the introduction of a new water taxi system and `Ride the Ducks,' tours of Philly on land and on the water.
"It is important that we take an encompassing view when considering the development of the entire central waterfront," said Dominic Sabatini, president of Penn's Landing Corporation. "Development during the past decade suggests that we not only concentrate on the property between Walnut and Market Streets, but also spread development along the entire central waterfront on sites such as the newly cleared incinerator pier at Spring Garden Street and the former auto impoundment lot at Pier 27."
Penn's Landing and city officials are currently working together to create a new plan for the best use of the development sites available on the waterfront between Market and Walnut Streets with the primary goal being to emphasize public access and the best usage of the entire waterfront, not just the Walnut/Market Street site which is receiving the most attention. Research is currently being conducted to study what has worked and hasn't worked in other regions in order to create new and unique assets for Philadelphia's waterfront to compliment what is already in place.