A Delaware waterfront site that was once the planned home of a Trump Tower has changed hands yet again.
The 2.13-acre parcel at 709-717 North Penn Street has been sold by former owners Shovel Ready Projects to developer Carlos Herrera after almost three years of being on the market, according to Philly.com. Herrera, a Venezuelan-born developer whose firm is based in Philly, is expected to go forward with the former owner’s plans to build a 41-townhouse development called Pier 35 1/2, which was designed by Cecil Baker + Partners in 2015.
The site has been the focus of speculation for over a decade, ever since now-President Donald Trump proposed building Trump Tower there in 2004. The tower would have been a 45-story structure containing both condos and hotel rooms.
But the economic recession forced Trump’s team to abandon the plan, and Shovel Ready bought the site in 2015. The group worked with Cecil Baker + Partners to develop a new plan for the space, which includes four-story luxury homes, each offering 2,800 square feet of space. Little else is known about the design, including how much the homes will cost and whether there will be any green space.
It’s unclear how much Herrera spent on the property, but the space—with townhouse plans and designs included—was listed last year at $12.3 million.
- Venezuelan-born developer taking over site of never-built Trump Tower [Philly.com]
- Former Trump Tower site on Delaware River lists for $12.3M [Curbed Philly]