SEPTA is preparing to vote on the final list of properties it identifies as targets for acquisition as part of the construction of proposed four-mile King of Prussia Rail line and the accompanying facilities. Natalie Kostelni chugged through the task of bringing the story to the Philadelphia Business Journal.
The transit agency will vote on September 22 on the properties it seeks to buy in part or whole. Afterward, SEPTA will start appraising them, determining fair market values and making offers to the owners.
The early list of properties SEPTA is considering for acquisition was part of a Final Environmental Impact Statement from January 2021. The statement lists 54 properties needing segmented transferal for the rail project and 13 parcels to be obtained whole. The real estate contains a mix of residential, commercial, industrial, and other properties.
This phase represents a significant milestone in the potential development of the proposed rail.
“For SEPTA to be talking about land acquisition means it’s a step toward reality, that this project has a very good chance of being built,” said Eric Goldstein, CEO at King of Prussia District.
Read more about the ongoing evolution of the King of Prussia rail line in the Philadelphia Business Journal.