PRDC Properties is poised to receive final approval for a potentially transformative, $150 million riverfront project in Bridgeport, writes Natalie Kostelni for the Philadelphia Business Journal.

The Philadelphia-based real estate company is planning to construct 250 apartments and 348 townhouses as well as 7,000 square feet of retail space on a 35-acre site that has had high hopes for development in previous years with no follow-through.

PRDC is expecting to receive approval on November 10. It will then construct the Bridgeview – as it has named the project – in four phases.

“In terms of what this project means to the borough – transformative change in no uncertain terms,” said Keith S. Truman, borough manager.

The borough currently has a population of around 4,600. After the project is completed, the population will potentially increase by around 25 percent.

“This project will be the catalyst for more residential and commercial redevelopment of varying shapes and sizes, furthering the borough’s current goals of revitalizing its commercial corridor and diversifying its housing stock,” said Truman.

PRDC plans to price the townhouses between high $300,000s and mid-$500,000s, while the apartment will rent for between $1,200 and $2,500 a month.

Read more about the project at the Philadelphia Business Journal by clicking here.

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