The former site of a South Philadelphia sportsbook is no longer part of a wager for a historic mega-development.
The project slated for 700 Packer Avenue in the neighborhood’s stadium district appears to be dead, the Inquirer reported. The demise of the development comes two years after the promising project was unveiled.
The development was set to be a joint effort between Hines and the Philadelphia Suburban Development Corporation. The project would’ve included more than 1,300 apartments, office space and an entertainment complex where Parx Casino’s South Philadelphia Race & Sportsbook once operated.
Outside of the 1.3 million square feet of residential space, there was slated to be 393,000 square feet of office space, 125,000 square feet of retail space and another 65,000 square feet for restaurants. The project would’ve also entailed more than 1,200 parking spaces.
But Hines decided to abandon ship last summer when it didn’t exercise an option to buy either the full site or a partial site of the property from PSDC, according to the King of Prussia-based development firm.
The project also faced opposition from Flyers owner Comcast Spectacor and local sports teams eyeing a mixed-use development in the same neighborhood. The Philadelphia 76ers, which were weighing a Center City move, ultimately decided to stay at the complex.
Council President Kenyatta Johnson has since moved to repeal rezoning ordinances related to the project, which PSDC’s president said would effectively end the development, despite its stated ability to move forward without Hines. A final vote on the repeal could come as early as this week.
The decisive move from Johnson comes even as a sunset clause for the zoning overlay is scheduled to repeal itself later in the year.
“I look forward to hearing new proposals from anyone, including PSDC, concerning new development plans for the former South Philadelphia Race & Sportsbook location at 700 Packer Ave.,” Johnson said in a statement.