Name: Philadelphia’s Historic 30th Street Station Is Getting A Makeover
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Philadelphia’s Historic 30th Street Station Is Getting A Makeover

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BETAThis is a BETA experience. You may opt-out by&nbsp;Jun 24, 2020,William H. Gray III 30th Street Station—an architectural landmark in Philadelphia, Pennsylvania—is all set for a makeover that is expected to bring a host of new retail stores and services to one of the busiest rail terminals in the U.S.The station’s operator, Amtrak, has selected the consortium Plenary Infrastructure Philadelphia (PIP) as the master developer to take on a major renovation of the terminal—with shopping gaining new status.Among the PIP partners that will design, build, finance, operate and maintain the station is Canada’s Vantage Airport Group, which has signed up as the retail contractor, responsible for developing and managing the commercial program over a 50-year term, including leasing and operations.Although it is the third busiest terminal in Amtrak’s national network, and serves 12 million passengers annually, 30th Street Station— built in 1934—has seen limited retail and dining improvements in the past few years. Recent arrivals have included sandwich chain and frozen yoghurt retailer .However, Amtrak says it is committed to “reinvigorating the station’s retail and commercial potential” by adding more shopping options as part of the ongoing ”—the ambitious renovation program to create a large, integrated mixed-use urban area in the city, with transportation at its heart.MORE FOR YOUAs part of a competitive process, Amtrak selected PIP last week from a shortlist following a Request for Qualifications back in 2018. The PIP consortium includes Plenary Americas USA, one of the largest public-private partnership developers in North America and by Canadian institutional investor Caisse de dépôt et placement du Québec; Rhode island-based ; diversified multinational; and Vancouver-based Vantage.Amtrak has generated rising annual revenue since 2015, hitting $3.5 billion in 2019 though its comprehensive losses widened to almost $1 billion. Retail—currently focused on food and beverage sales—is an under-exploited part of the business contributing 4% to Amtrak’s coffers in the financial year ending September 2019.Christopher Hartsfield, Amtrak’s assistant vice president of properties tells Forbes.com: “Our P&amp;L is not dependent on retail, however, it is an important source of revenue that can lower an overall project cost.”Across Amtrak’s broader business—its network connects more than 500 destinations in 46 states, the District of Columbia and three Canadian provinces—Hartsfield adds: “We are looking to expand and diversify retail options at our major stations, including Gray 30th Street Station, Chicago Union Station and New York Penn Station.”Vantage believes it can usher in a change by bringing its airport commercial expertise, developed over the past 25 years. The group has just unveiled its in Queens, New York, but 30th Street Station is the company’s first experience in the railway shopping space and shaking it up may not be easy.Sammy Patel, vice president of commercial, tells Forbes.com: “We see this as a natural evolution. While rail is a different infrastructure class, Vantage has excelled in customized commercial programs at airports—which are complex operating environments. We ensure we understand who our customers are and use this knowledge to design a tailored shopping and dining experience. We would absolutely take this same approach at Gray 30th Street Station.”Exact details of the retail offer, as well as the timescale, are still to be ironed out as financial negotiations and project scoping are not yet complete. Vantage says it is too early to name brands but points to a “balanced mix of local and national names serving travelers from business commuters to leisure visitors”.However, in the conceptual planning phase for the West Underground Concourse at 30th Street Station—a busy intersection for commuter and regional rail services—Amtrak made clear that it was keen to see what it calls “signature retailers” such as Apple, Terrain, Under Armour, Urban Outfittersin order to become a shopping destination. The concourse will have a large retail area of 25,000 square feet, accessible from a street-level pop-up pavilion.As well as improving passenger services such as retail, PIP will also restore and highlight 30th Street Station’s historic fabric. The vast concourse, whose floor is made of Tennessee marble, has a 95-foot-high ceiling and distinctive Art Deco chandeliers. It is lined by gilded and ornamented columns that contrast with the more austere, neoclassical look of the façade and its five-story, cathedral-like windows.&nbsp;or&nbsp;.&nbsp;

BETAThis is a BETA experience. You may opt-out by&nbsp;Jun 24, 2020,William H. Gray III 30th Street Station—an architectural landmark in Philadelphia, Pennsylvania—is all set for a makeover that is expected to bring a host of new retail stores and services to one of the busiest rail terminals in the U.S.The station’s operator, Amtrak, has selected the consortium Plenary Infrastructure Philadelphia (PIP) as the master developer to take on a major renovation of the terminal—with shopping gaining new status.Among the PIP partners that will design, build, finance, operate and maintain the...

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Philadelphia’s Historic 30th Street Station Is Getting A Makeover

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