Developer Bart Blatstein is buying the massive vacant lot where the Foxwoods casino was supposed to go on the Delaware River, between Reed and Tasker streets, for $13 million.
The Inquirer reported that Blatstein plans a mix of residential and retail on the site, which he owned 21 years ago before selling it to what would become Caesers Entertainment for $64 million.
The Inky says the deal includes transferring a 100-foot wide stretch of land along the riverfront to the Natural Lands Trust, a local land conservation organization, so the city can continue the waterfront bike trail. As you can see, it’s already there:
Hopefully, this just means that the Delaware River Waterfront Corporation can spruce it up or make it bigger. At any rate, says the paper:
The sale of the Foxwoods site also will eliminate a tax bill on the 16-acre property, with the city agreeing to accept $8 million to resolve back taxes. The amount owed in taxes, penalties, and interest was $14 million, but that assessment was based on there being a casino and hotel, which never got built.
“I’m very pleased that this got settled,” said Alan Greenberger, deputy mayor for economic development.
Greenberger said Blatstein has not shared his plans for the former Foxwoods site. But he added that it would probably be a mix of residential and retail space.
Wonder if this development will influence the outcome of the dispute across Tasker, where AAA is proposing a mechanic shop.
Regardless, the rest of the Inky story is worth a read, especially since you can see how this plot of land has factored into Blatstein’s ascension as one of the city’s most prominent developers. Take a look here. It’s that kind of position that has enabled Blatstein to get his hands on all sorts of potential projects around the city, including the proposal for a retail complex at Broad and Washington.