Overview
- Brevet Capital closed a $150 million senior construction loan from Mexico-based Banco Inbursa to finance Wharton Piers at 1341 S. Christopher Columbus Blvd.
- Phase 1 calls for a 36-story, 620-unit tower and a one-story retail building, with construction targeted for Q1 2027, leasing in late 2028, and completion in early 2029.
- The loan also covers an approximately 20,650-square-foot neighboring retail structure described as a placeholder for a future residential tower.
- Plans include 32 residential floors, about 30,800 square feet of ground-floor retail, roughly 15,000 square feet of indoor amenities with a pool, and parking for 187 cars in the podium plus about 100 surface spaces.
- As part of density concessions, the developer will fund the city’s Housing Trust Fund and repair and maintain the Delaware River Trail to Reed Street, alongside new open space, an esplanade, and pier access.