Developer Plans to Turn Former Peco Power Plant Into Hotels Plus Event Spaces
By John McDevitt
PHILADELPHIA (CBS) -- An energetic plan is in the works to turn a defunct electricity generating plant, along the Delaware River in Fishtown, into boutique hotels with elegant ballrooms.
Developer Bart Blatstein and caterer Joseph Volpe have signed a contract with Exelon Corporation to buy the old power plant at an undisclosed price.
Blatstein says it's a one-of-a-kind property with 300,000 square feet of vacant buildings.
"In addition to that, there is a pier that juts out into the water, I think about 150 feet," Blatstein tells KYW Newsradio. "So just think about it: you can pull up your boat next to the pier, and you can dine with us, and you can stay with us, and even have a wedding with us."
Blatstein says he is going to let his partner take the lead on the project because of his business savvy and experience in special-event venues.
"He has five facilities, and just in weddings alone he has done over 600 wedding last year," Blatstein says. "He is spectacular he is a superstar, and I'm thrilled to help him in his growth and expansion."
The development may include apartments eventually.
Philadelphia Electric Company built the facility shortly after World War I.