[ 05.04.2004 ]

PHILADELPHIA, PENNSYLVANIA - AEGIS PROPERTY GROUP is pleased to report that Amtrak’s new parking garage opened on May 4, 2004 less than 16 months after the project’s financing.
 
Aegis Property Group‘s Development Management Group is pleased to announce the completion of Amtrak’s new 1,520 space nine-level structured parking garage. This project marks Amtrak’s first phase of development on its 50-acre property north of Arch Street and adjacent to its 30th Street Station in Philadelphia.
 
Opened on May 5, 2004, this new facility more than doubles the previous parking capacity, while allowing safe, attractive and easy access to the Station. The garage, which was designed by Urban/STV Joint Venture (and sub-consultants Bower Lewis Thrower and Tim Haahs)features two glass enclosed towers and eight-foot deep exterior vertical columns juxtaposed against architectural pre-cast and perforated aluminum spandrel panels. The project was successfully constructed by R.M. Shoemaker Construction Company and the pre-cast was fabricated by High Concrete.
 
Amtrak financed and developed this project through a complex transaction which entailed $50 million in tax-exempt bonds issued by the Pennsylvania Economic Development Finance Authority, a private sector developer - 30th Street Parking Associates, a subsidiary of Berwind Property Group and a private sector operator, Central Parking.
 
Aegis Property Group, acting on behalf of Amtrak, as its Development Manager, performed a full range of development services, including soliciting development proposals, negotiating terms and conditions with the developer, assisting in the transactional structure and its negotiations, contracting for and managing the design, oversight of the developer and its contractors and coordination of the work with the Amtrak operations. James L. Price, Michael Van Saun, Tony Elm and Maleda Berhane led the Aegis Property Group team on this exciting project.