$2 billion development project stalls on Philadelphia’s waterfront

Axios.com: The $2.2 billion development on Penn’s Landing has stalled. This is the biggest project on the Delaware River waterfront, promising to bring in thousands of residential units, offices, hotels, and retail to the Philadelphia waterfront. Current stalling is due to unresolved final agreements between the landowners (Delaware River Waterfront Corp.) and developers (The Durst Organization). The Durst Organization claims agreements have not advanced further due to high interest rates, high construction costs, and challenging economic markets. Ongoing construction has been paused until negotiations can be resolved, but the landowners intend on pursuing development with the Durst Organization.

https://www.axios.com/local/philadelphia/2024/05/28/penns-landing-development-project-durst