Revamped Pier 40 reopens along the Delaware River in Philly

Have a question about Philly’s neighborhoods or the systems that shape them? PlanPhilly reporters want to hear from you! Ask us a question or send us a story idea you think we should cover.

A historic pier shed in South Philadelphia is getting new life as a storage facility.

Pier 40 was built along the Delaware River as part of a broader effort to expand and modernize the Port of Philadelphia during the early part of the 20th century. The building, inspired by Beaux-Arts architecture, dates back to 1914 and was used to store and ship goods. The restored shed will now be home to a CubeSmart self-storage facility.

“This use here pays homage to its industrial past,” said Bart Blatstein, CEO of Tower Investments, during a ribbon-cutting ceremony Tuesday. “It’s a great service for the community and a great addition.”

Blatstein acquired Pier 40 from the Philadelphia Regional Port Authority in August 2022. His company revamped the imposing building with PrimeSpace Capital, a real estate investment firm.

Tower Investments also owns Pier 38, a nearly identical shed that sits on the same lot on Christopher Columbus Boulevard, not far from Washington Avenue. Pier 38 has yet to be redeveloped.

Both structures will likely be protected against demolition at some point.

Blatstein is working with the Preservation Alliance of Greater Philadelphia to execute a preservation easement, a legal course taken to safeguard buildings with historic, architectural or archaeological significance.

Paul Steinke, the alliance’s executive director, said an agreement may be in place by the end of the year. Negotiating an easement typically centers on determining the value of the property — with and without the easement — for the purposes of calculating a one-time deduction on a property owner’s federal income tax.

In the meantime, Steinke is pleased Pier 40 is back in productive use, calling it a “major step forward for the growth of the city.”

“We don’t build buildings like this anyone. And so to repurpose them into new uses is great for the city’s economy, creating jobs. But it also gives the city optimism in its future. Because when you save important parts of your past, and incorporate them into your future, it makes you feel good about your city,” said Steinke.

The project is viewed as part of a broader effort to transform the Central Delaware River waterfront.