WHEREAS, The 16th Major League Soccer team in Philadelphia and the accompanying multi-use stadium are part of a larger redevelopment project along the Chester waterfront. If Philadelphia is granted a team, the construction of a $115 million, 20,000 seat stadium will act as a “spark” to kick start and accelerate the Buccini/Pollin Group’s $500 million mixed-use residential, retail and commercial office development; and
WHEREAS, Pennsylvania Governor Edward G. Rendell, Senator Dominic Pileggi and other political leaders announced a $47 million state funding package in support of the Chester waterfront development project and praised the effort for its potential to rejuvenate one of Pennsylvania’s most historic cities; and
WHEREAS, In addition to Major League Soccer and high-profile international games, the stadium will host other sporting events, concerts, festivals and numerous community gatherings; and
WHEREAS, The development along the Chester waterfront will occur in several phases: Phase one, expected to begin this fall, will include the stadium, 186 town homes, 25 apartment residences, 335,000 square feet of office space in three structures, a convention and exposition center of approximately 200,000 square feet, 22,215 square feet of retail space and structured parking. In addition, there will be substantial remediation and infrastructure construction highlighted by new streets, greenways and a riverside promenade that will include boat slips. Phase two is scheduled to include an additional 200 apartments, 100,000 square feet of office space and retail space in excess of 22,000 square feet; and
WHEREAS, An economic impact study recently measured the potential benefits related to the construction and ongoing operation of the mixed-use development. The study concluded the combined elements of the project will have a significant impact at the city, regional and state levels. In addition to supporting the creation of 2,600 jobs during construction and then 800 net new jobs annually, the project will generate over $1.7 billion in total economic activity, $670 million in personal earnings and $335 million in tax revenue; and
WHEREAS, A strong ownership group is in place comprised of CEO & Managing Partner Nick Sakiewicz; Robert and Christopher Buccini, founding partners of The Buccini/Pollin Group; Chief Executive of iStar Financial Jay Sugarman; Swarthmore Group Chairman James Nevels; and Philadelphia attorney William Doran; and
WHEREAS, Philadelphia is the largest market in which Major League Soccer is not present and several organizations and thousands of fans have come together to voice their support for bringing a team to the region; now, therefore, be it
RESOLVED, BY THE COUNCIL OF THE CITY OF PHILADELPHIA, That Council does hereby encourage bringing the 16th Major League Soccer team to Philadelphia, thereby revitalizing our neighboring City of Chester through a $500 million redevelopment project.
FURTHER RESOLVED, That an Engrossed copy of this resolution be presented to Nick Sakiewicz, CEO and managing partner of FC Pennsylvania Stadium, L.L.C., as evidence of the sincere sentiments and recognition of this legislative body.
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