- The largest retail project to be completed in any Federal Empowerment zone located in Pennsylvania
- The largest single development to be completed in West Philadelphia
- A true community partnership, where 30 percent of the profits will be directly reinvested back into the community
- Creation of 420 construction jobs and more than 640 permanent positions
- The elimination of significant blight
- A relocation program, with the assistance of key community groups, where all affected residents were successfully relocated within the neighborhood or nearby communities
- The first project of its kind to receive funding from the PA Department of Community and Economic Development
- Minority participation rates that exceed 35 percent
- Equal Opportunity Plan to increase the number of minority, female, and disabled-owned businesses at the center, as well as job training for community residents
- Made possible in part by Wachovia Bank through the Federal Government’s New Markets Tax Credit program.
ParkWest Town Center Breaks Ground
PARKWEST TOWN CENTER, 52ND AND JEFFERSON, PHILADELPHIA, April 11, 2007
PHILADELPHIA, PA, April 11, 2007, The Goldenberg Group (“TGG”), a leading Philadelphia area real estate developer, and West Philadelphia Financial Services Institution (“WPFSI”), a community development financial institution, held a groundbreaking ceremony for the long awaited $50 million retail center to be developed in the vicinity of 52nd and Jefferson Streets on April 11, 2007 at 10:00 a.m. The 340,000 square foot shopping center is of one of the most exciting and important neighborhood transformation projects West Philadelphia has seen in decades.
The ParkWest Town Center partnership is a model for public-private sector development and is an example of development done right! Notably, the center has achieved numerous goals that bring together the efforts of community development, private development and government support to include: