Navy Yard's $6 billion plan seeks to create the residential community its owners have wanted for two decades

The Philadelphia Navy Yard is set to undergo a major transformation over the next two decades, as owners and investors PIDC and Ensemble/Mosaic unveiled the latest development plan on Tuesday. The $6 billion investment will build 8.9 square feet of residential, science, retail and mixed-use development, and will add up to 12,000 jobs, creating a new neighborhood on the former military base.

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