The Philadelphia-based William Penn Foundation  has announced a commitment of up to $15 million in support of the Penn's Landing Park project, which will cap I-95 and re-connect the city's historic district with the Delaware River waterfront.

Since 2007, the foundation has supported a process aimed at creating and implementing a citizen-based vision for the redevelopment of the riverfront that includes a master plan for the area and a series of public access improvement projects at the Race Street Pier, Washington Avenue Green, and Pier 68 Recreation Park. Significant improvements to the river's water quality over the past several decades also have helped make the riverfront a desirable destination for residents and visitors.

"[The Penn's Landing Park project] will not only transform the waterfront but it will transform our entire city by allowing residents and visitors to reclaim the Delaware riverfront as a new public space destination," said William Penn Foundation executive director Shawn McCaney. "Significant progress has been made to activate the riverfront over the last several years, including new parks, trails, and programming — such as Spruce Street Harbor Park, which attracts thousands of visitors each year. The redevelopment of Penn's Landing will be the centerpiece of a long-term effort to bring people and new economic activity to the river's edge."