(EB-5) Project Update |The Bellwether (Philadelphia) – October, 2023
(EB-5) Project Update |The Bellwether (Philadelphia) – October, 2023

Latest Update on the Strategic Project in Philadelphia, U.S, in October 2023, with a total investment of up to 611 million dollars.

The Bellwether District project in a Targeted Employment Area (TEA) – an area defined by the U.S. government as having high unemployment or rural regions – aims to clean and revitalize the PES oil refinery site in Philadelphia into a green and sustainable campus, fostering industrial growth and innovation.

The strategic project in Philadelphia aspires to create a sustainable and green campus, driving industrial growth and innovation.

With a vast area second only to Philadelphia International Airport, once completed, the Bellwether District is poised to be a leading region in sustainable development, innovation, and economic growth for the entire city.

>>> For more detailed information: Refer to Bellwether District investment project



The construction site is carrying out land filling work

– 611 million USD: The total project investment as of October 2023 (an increase of 41 million USD from the last update). 

– 363 additional jobs created: The job creation figure is in line with the projected number of 2970 jobs.

Majority of the incremental spend has been on demolition and earthwork with attendant carrying costs and soft costs also continuing.

– 98%: Completion of demolition work (the last project update was at 92-93%)

All that substantively remains is the demolition of the wastewater treatment plant.  Hilco will complete demolition of the wastewater treatment plant once the temporary wastewater system is set up.  This is still on track to be completed this year.

There are still a few ancillary demo activities to complete (small concrete pads to be removed) but these are fairly simple activities. 


– From a mass grading perspective, Hilco has completed the following activities since we last provided an update:

  • Pad for lot 15 is complete and 100% of surcharge has been placed.


  • Pad for lot 16 is substantially complete and we are getting ready to place surcharge.  Expected completion of the placement in November of 2023.
  • The stormwater detention area that will support the industrial area of the property has been excavated and Hilco is now working on connecting it to the rest of the industrial property at large.  Once this area is commissioned, they can disconnect and decommission the wastewater treatment plant and complete the demolition.

The rainwater storage area is currently in the operational phase

– No substantive updated on environmental.  Work continues as planned with no new major surprises.

– Hilco is out to bid for Phase I of infrastructure work.  Anticipate receiving bids and leveling over the next few weeks with a contractor selection soon thereafter.  Expected start date for infrastructure is still November of this year but that may slip a month, depending on the bid leveling/selection process.

Same scope as previously described-off site at 26th and Hartranft and first portions of Hartranft and Frances Harper Drive inside the site.

From a vertical development perspective:

  • Lot 15 will proceed as soon as the surcharge program is completed and the surcharge material is removed.  We think that is likely November (about a 2 week slide since we last provided an update).
  • Lot 16 will start in January/February pending surcharge program results and weather conditions.  Since lot 16 is next to lot 15 and the soils are largely in the same condition, we anticipate a similar 2 month surcharge program which lines up with this schedule.

Vertical financing:

Hilco has a term sheet for the construction financing for lot 15 that they are reviewing.

The rainwater storage area is currently in the operational phase at the sample plot
Please follow Interimm to stay updated on the latest project information. For immigration consultation from our experts on U.S. immigration applications, please contact us via the hotline: 0931 830 838 for detailed consultation on the U.S. EB-5 immigration program, please contact us.

Related news

Update on the EB-5 project as of January 2024: The Spiral (RC: CanAm)

Project Summary Project: The Spiral Borrower: 509 W 34 Mezz, L.L.C. EB-5 Loan Amount: $215.5 Million Number of

eb5, uscis, i526
EB-5 Application Volume Hits 14-Quarter High in Q4, 2023

USCIS has released data forms for fiscal Q4 2023, which cover the period from July

le phi eb5
What are the costs associated with the EB-5 program?

Before applying to this U.S. investor visa program, EB-5 investors must carefully consider all the

Golden visa bo dao nha
Portugal’s Golden Visa & Frequently Asked Questions after the New Law of 2023

The Portuguese Golden Visa is an investment residency program designed for individuals outside the European

eb5 visa, thi thuc eb5
5 New Things to Know About EB-5 Immigrant Investor Visa EB-5

Continuously attracting the attention of U.S. immigrant investors, the EB-5 visa has recently seen changes

golden visa bo dao nha, nhr
The NHR (Non-Habitual Resident) tax programtruly terminated ??

Stirring public debate has surrounded the speculation that the NHR (Non-Habitual Resident) tax policy would

visa eb5
Fiscal Year 2024 is expected to yield a higher crop of EB-5 visas

The projected outlook for the financial year 2024 is deemed highly favorable, with experts anticipating

Portugal Golden Visa updates new investment rule

The changes related to real estate investment when participating in the official Portugal Golden Visa

rural tea eb5 project advantages
Rural TEA EB-5 Project Advantages for New Investors

EB5 applicants have several strategies at their disposal to enhance their prospects of achieving successful

USCIS gives priority to the accelerated approval of EB-5 projects in rural areas

The Reform and Integrity Act was signed into law in March 2022 and gave new