Philadelphia Expands Master Plan For Navy Yard

Law360, New York (February 1, 2013, 5:59 PM EST) -- Philadelphia's economic development corporation on Friday updated its master plan for the Navy Yard Corporate Center, a 6.5-million-square-foot business and industrial complex, which it plans to expand to 13.5 million square feet, attracting $3 billion in private investment, according to the city.

A majority of Naval operations at the former base were closed in 1995 as part of the U.S. government's Base Realignment and Closure program, and the Philadelphia Industrial Development Corp. teamed up with Liberty Property Trust and Synterra Partners in 2004 to transform the...
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