September 15, 2021
Amtrak Reaches Financial Close with Plenary Americas on William H. Gray III 30th Street Station Redevelopment Project
PHILADELPHIA – Amtrak and Plenary Infrastructure Philadelphia (PIP) have reached financial close on a lease and development agreement for the restoration and renovation of the William H. Gray III 30th Street Station. Under the agreement, PIP will refurbish and improve the historic building, finance those improvements and maintain the station for a 50-year term.
“This important milestone in the Gray 30th Street Station Redevelopment Project is part of Amtrak’s overall strategy to enhance the customer experience and operations at our major stations,” said Amtrak EVP of Planning & Asset Development Dennis Newman. “The scope of this work will transform this historic Philadelphia landmark into a modern world-class station with superior amenities, better intermodal connectivity and new customer-facing improvements over the next five years.”
The historic transportation hub is nearly 100 years old and is Amtrak’s third busiest station. This redevelopment project will restore and highlight the historic fabric of the majestic station, while refining the customer experience by introducing new amenities, reinvigorating the station’s retail and commercial potential, improving and expanding existing office space and enhancing transit and pedestrian traffic flows.
“On behalf of the Plenary Infrastructure Philadelphia team, we’re delighted to have reached financial close on the Gray 30th Street Station Redevelopment Project. We look forward to our long-term partnership with Amtrak and ensuring an improved customer experience for travelers and visitors to this historic station,” said Dale Bonner, Executive Chairman of Plenary Concessions Americas.
This large scale redevelopment is the first significant phase of Amtrak’s ongoing efforts toward implementing the Gray 30th Street Station District Plan and includes nearly 500,000 square feet of renovation and modernization. As part of the project, PIP will be responsible for:
- Bringing the overall station into a state of good repair.
- Providing expanded retail offerings to meet the needs of travelers and the local community.
- Enhancing operational efficiency through reconfiguration and modernization of back-of-house facilities to accommodate projected increases in ridership.
- Significantly enhancing the quality of customer experience with an emphasis on convenience, usability and comfort.
- Rejuvenating the historic station as both a customer-oriented gateway and civic destination by celebrating and enhancing the facility’s unique and iconic Neoclassical and Art Deco design.
- Completing a renovation of the corporate office spaces in the upper levels of the station.
- Operations and maintenance of the existing building, beginning on September 1, 2021.
- Creating an expanded and modernized concessions experience, with high quality retail and food & beverage offerings for travelers and employees.
Construction on the renovation is expected to begin in 2022 and be complete in 2025.
Key members of the PIP team include: Plenary Americas as lead developer, Gilbane Building Company as design-build lead, Johnson Controls Inc. for facility operations and maintenance, and Vantage Airport Group for concessions development and management.
Amtrak’s master developer partner, PIP, was selected by Amtrak through a competitive procurement and will be leasing the station in order to deliver the full scope of work to design, construct, and maintain the station building. PIP was chosen based on its team’s proposal and successful record of project delivery, extensive experience with complex mixed-use properties and adaptive reuse of historic buildings, and approach and commitment to engaging Disadvantaged Business Enterprises, community hiring, and workforce development strategies during all phases of the redevelopment.
