The Delaware Power Station, once a vacant and vandalized industrial relic in Philadelphia, has been transformed into The Battery. The name is appropriate, because this mixed-use redevelopment has re-energized and breathed new life into the city's riverfront.
The former industrial property, built in 1921, now includes apartments, office spaces, an event venue and two hotels, generating economic activity and community engagement. The project's ripple effect has significantly contributed to the market's vitality, which is why a panel of local industry professionals selected The Battery as the winner of the 2024 CoStar Impact Award for redevelopment of the year for Philadelphia.
The project transformed an obsolete structure, including its boiler house and coal bins, into modern residential and commercial spaces that are enlivening Delaware Avenue and Fishtown. The redevelopment's innovative design seamlessly blends modern amenities with historic preservation, creating a unique and forward-thinking development. It also incorporates energy-efficient systems and smart technology that not only reduces The Battery’s environmental impact but also enhances the overall living experience for residents.
About the Project: The re-purposing of the 484,537-square-foot former power station at 1325 N. Beach St. cost an estimated $154 million. The adaptive reuse of the space celebrates its origins, with exposed concrete walls and careful preservation of a steel cistern, providing a tangible link to the building's coal-firing past. This innovative approach sets a standard for historic preservation. And this transformation of a cavernous space for multistory boilers into a vibrant mix of residential, commercial, and event spaces required meticulous planning and execution, taking advantage of its location in a federal opportunity zone and a Keystone Opportunity Zone, which provides a similar tax benefit in Pennsylvania.
The Battery now includes: a 25,000-square-foot wedding venue and 45-room hotel operated by Cescaphe, private smokestack terraces off of select residences; wraparound balconies available, a rooftop pool, a golf simulator, coworking space and 49,000 square feet of office space
What the Judges Said: "It turned an eyesore in a very public space into a landmark and activated a long-vacant space in multiple ways," said Mike McNelis, head of growth at Philly Living Management Group. "The multi-use opportunity allows for the building to be occupied in several ways which then becomes a community in and of itself." Brad Boone, a Colliers International senior vice president, touted the Battery as "one of the most significant historic redevelopments on the East Coast," adding that "this project continues the revitalization of the historically industrial areas of the central Delaware riverfront."
They Made It Happen: Developer Leonard Klehr, Lubert-Adler Real Estate Funds; Corey Ernst, vice president, Lubert-Adler Real Estate Funds; Jessica Morgan, principal, Lubert-Adler Real Estate Funds; architect Chris Kenney, Strada; Brent Foote, general manager, Sentral; Mason Labadie, development manager, Sentral; Sadie Simpson, vice president of operations, Sentral; Katie Patton, marketing manager, Sentral; and Roman Speron, chief development officer, Sentral.
CoStar Senior Market Manager Shae Yeager and Market Manager Douglas Scott-Meagher contributed to this report.