Source: Journal of Commerce
January 21st 2016
The Philadelphia Regional Port Authority has issued a short list of potential developers of a marine terminal on 196 acres at the former Philadelphia Navy Yard.
The port authority has been trying for several years to develop the Southport site adjacent to the Packer Avenue container terminal. Proposed uses for the property could include containers, automobiles and energy-related cargoes.
Potential developers were announced for the 119-acre Southport Marine Terminal, which has been identified for possible development into a container terminal, and the adjacent 75-acre Southport West Terminal.
Shortlisted potential bidders for the Southport Marine Terminal site are CenterPoint Properties Trust, Liberty Consortium, Philadelphia Energy Solutions LLC, and Southport Development partners. Those four companies and USD Group LLC are on the short list for the Southport West site.
Port Authority Chairman Jerry Sweeney said the short list indicates that “Southport is no longer a distant project on the horizon. It’s something that’s going to happen soon, to the great benefit of Philadelphia’s working waterfront and our regional economy.”
The port authority plans during the coming weeks to issue a request for proposals, which will include proposal requirements and terms and conditions for project development. Submission of proposals is expected this summer, followed by selection of developers. Port officials say they expect construction to begin next year.
The Port of Philadelphia handled 275,578 full 20-foot-equivalent units of containerized cargo in 2015, a decrease of 5.3 percent from the previous year, according to preliminary data from PIERS, a sister product of JOC.com within IHS.