Philadelphia World Trade Center 2010

Urban Mixed Use and Business Enterprise Valuation, Philadelphia, PA

IMPACT OF ZONING CHANGES ON PROPERTY VALUE

WRA Associates proposed development of a 3.9 million square foot, multi-building World Trade Center along Philadelphia’s Delaware Riverfront. In early 2006 The City of Philadelphia applied an overlay district that would have restricted development of the site. Philadelphia was subsequently sued for $160 million in damages in Federal Court. Clarion/Samuels was retained as a consultant and valuation expert for the City of Philadelphia.

SCOPE OF SERVICES PROVIDED

  • Analyzed office and residential market demand for Center City Philadelphia and waterfront locations;
  • Analyzed the market demand and financial feasibility of the proposed Philadelphia World Trade Center;
  • Reviewed and analyzed case studies regarding the value of World Trade Center branding and the applicability of that branding premium to a Philadelphia waterfront site;
  • Calculated both real estate and business enterprise damages resulting from the zoning change.

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