Gov. Rendell officially unveiled the project yesterday, saying the historic Parkway deserved the investment.

"It is an incredible avenue," Rendell said. "It's the Champs-Elysees without the Burger King, without the McDonald's, without the movie theaters. And we not only have to keep it that way, we have to preserve it."

The $17 million effort - scheduled to conclude in 2011 - will be paid for by the state, city and several foundations.

The city will provide $6.4 million, all coming from the capital budget, said Wendell Pritchett, city director of policy, research and planning.

The state will provide $6.45 million. The project will also get $2 million from Pew Charitable Trusts, $1.25 million from the Knight Foundation and $1 million from the William Penn Foundations.

Key improvements include:

* Sidewalks along the Parkway between 16th and 18th streets will have new curbs, benches and plants.

* Between 21st and 23rd streets there will be new bicycle lanes, wider sidewalks, benches and new landscaping.

* Shakespeare Park in front of the Free Library will be newly landscaped. The Center City District also will look into the possibility of an outdoor cafe.

* The Sister Cities Plaza in front of the Cathedral Basilica of Ss. Peter and Paul will get a makeover with more grass, paths, benches and perhaps a fountain.

Also announced yesterday were plans to create a park at 12th and Catharine streets, on the site of the former Martin Luther King Jr. public housing high-rise. The $2.1 million green space will include trees, benches and a lawn area that could be used as an amphitheater. *