PHILADELPHIA | Lowrise/General Developments Thread II

[PurpleWhiteOut]

Originally Posted by Broadcastthatboom

I saw some activity happening on the empty lot between 22nd and 23rd and Walnut when I was walking to work today (some digging and equipment, maybe utility stuff I'm not sure), any info on that parcel?

As far as I know this is still in limbo. The historic commission cock-blocked it saying that it should be no taller than 6 stories, despite its zoning (get ready to see this a lot in WSW). I don't recall them getting an approved design. I support historic districts but the commission is way too Draconian on heights on non contributing properties

[nemesisinphilly]

This is what historic preservation leads to:

https://www.bizjournals.com/philadel...f-storage.html

For those pay-walled Pier 40 will go back to being Self Storage. This time under the Cubesmart brand.

About plans for Pier 38: "Blatstein, CEO of Tower Investments, said he’s weighing options for Pier 38 and the adjacent parking lot and could have plans in place by the spring. A representative for PrimeSpace Capital said the developer is collaborating with Blatstein on those plans, which could include office, retail and storage."

Since office is dead and retail pretty unlikely expect to see two beautiful historic self storage warehouses on prime riverfront.

[3rd&Brown]

Originally Posted by nemesisinphilly

This is what historic preservation leads to:

https://www.bizjournals.com/philadel...f-storage.html

For those pay-walled Pier 40 will go back to being Self Storage. This time under the Cubesmart brand.

About plans for Pier 38: "Blatstein, CEO of Tower Investments, said he’s weighing options for Pier 38 and the adjacent parking lot and could have plans in place by the spring. A representative for PrimeSpace Capital said the developer is collaborating with Blatstein on those plans, which could include office, retail and storage."

Since office is dead and retail pretty unlikely expect to see two beautiful historic self storage warehouses on prime riverfront.

Oh right. Or perhaps it has nothing to do with historic preservation and just that Blatstein is a mediocre developer with a terrible reputation who can't get backing from traditional financing outlets? This guy literally held up Broad and Washington for decades because he wanted a "Piazza in the sky".

He's not even one full step above Goldberg.

[Raja]

Originally Posted by nemesisinphilly

This is what historic preservation leads to:

https://www.bizjournals.com/philadel...f-storage.html

For those pay-walled Pier 40 will go back to being Self Storage. This time under the Cubesmart brand.

About plans for Pier 38: "Blatstein, CEO of Tower Investments, said he’s weighing options for Pier 38 and the adjacent parking lot and could have plans in place by the spring. A representative for PrimeSpace Capital said the developer is collaborating with Blatstein on those plans, which could include office, retail and storage."

Since office is dead and retail pretty unlikely expect to see two beautiful historic self storage warehouses on prime riverfront.

Huge, audible sigh. Ugh. What is it with this guy?!?!? Pie-in-the-sky (hello Broad & Wash), yet somehow utterly lacking in vision where it might actually succeed (the river).

[nemesisinphilly]

Originally Posted by Raja

Huge, audible sigh. Ugh. What is it with this guy?!?!? Pie-in-the-sky (hello Broad & Wash), yet somehow utterly lacking in vision where it might actually succeed (the river).

I agree he's a very underwhelming developer but what can you do here if the buildings can't be modified? A food hall? Another version of Cherry St Pier? Another big box store? The historic designation limits the options pretty significantly. Starting with a blank slate if they were demoed would open up the options to pretty much anything.

[Raja]

Originally Posted by nemesisinphilly

I agree he's a very underwhelming developer but what can you do here if the buildings can't be modified? A food hall? Another version of Cherry St Pier? Another big box store? The historic designation limits the options pretty significantly. Starting with a blank slate if they were demoed would open up the options to pretty much anything.

IMHO, a sports hall with an aquatic center (tall enough for legit diving platforms too), tennis, golf, etc.

[ScreamShatter]

Originally Posted by Raja

IMHO, a sports hall with an aquatic center (tall enough for legit diving platforms too), tennis, golf, etc.

Chelsea Piers in NYC might be a decent model. I also wonder if the Seaport Museum would consider relocating to one of these. Their current space could be be better used once the park is built.

[nemesisinphilly]

Originally Posted by Raja

IMHO, a sports hall with an aquatic center (tall enough for legit diving platforms too), tennis, golf, etc.

Sure a Chelsea Piers thing could work but I'm not sure about size(CP is 3 or 4 piers I believe) and location. It would work better further north closer to other entertainment options. I would also like a Time Out Market.

I think it's just going to sit forever until Blatstein eventually flips it to someone else once the other developments further north finish up and the parcel is much more valuable.

[ScreamShatter]

Originally Posted by nemesisinphilly

Sure a Chelsea Piers thing could work but I'm not sure about size(CP is 3 or 4 piers I believe) and location. It would work better further north closer to other entertainment options. I would also like a Time Out Market.

I think it's just going to sit forever until Blatstein eventually flips it to someone else once the other developments further north finish up and the parcel is much more valuable.

Yea probably right. That end of Del Ave isn’t super desirable yet.