The Center City District-led project to rebuild Dilworth Plaza is currently under construction. Located on the west side of Philadelphia’s City Hall, the plaza sits atop the intersection of SEPTA’s Market-Frankford line, Broad Street subway and subway-surface trolley lines, and enjoys easy connections to the regional rail lines, all of which bring more than 300,000 transit riders downtown daily. The plaza will have green, shaded sitting areas and a large lawn, an outdoor café, and a programmable fountain that can be turned off in segments to accommodate a range of special events, concerts, outdoor markets, or winter ice-skating. With new sloping glass entrances, animated at night by lighting, Dilworth Plaza will also serve as a prominent gateway to Philadelphia’s extensive network of transit lines.
In the fall of 2010, the Dilworth Plaza project was awarded a $15 million TIGER (Transportation Investment Generating Economic Recovery) grant by the Obama Administration, matching a $15.5 million Redevelopment Assistance Capital Program (RACP) grant from the Commonwealth of Pennsylvania.
The application process requires that applicants demonstrate the benefits of a project using the techniques of cost-benefit analysis. Econsult performed several benefit calculations for the TIGER application, including:
Direct and indirect impacts of the $55 million construction budget on total economic output for the Commonwealth of Pennsylvania.
Increase in property values of homes near the renovated plaza
Time savings from easier access to the subway system and the ability to avoid difficult street crossings
Potential fiscal benefits to the City from increased property values
Econsult Summary of Work (October 2010) (PDF)
The Center City District was awarded a Transportation Investment Generating Economic Recovery (TIGER II) Grant for the Dilworth Plaza & Concourse project. Econsult performed an analysis for the CCD in support of their application. (October 19, 2010)
Link to Center City District Press Release (October 19, 2010) (PDF) (HTML)
Link to Center City District Fact Sheet (PDF)