Quote:
Originally Posted by MadhattersLT
I have a legit question about development in the city, not trying to have it become too political though ������. From the announcement of a Larger Project let’s say in the city, one could assume it has been in the works for a while. Then after it’s announced there’s sometimes many years before any movement. Why is that? If someone has put money out to acquire land and pay for engineering and architectural firms to come up with a plan hasn’t the demand been present for those moves to occur in the first place?? In Philly what’s the hold up with a lot of projects? Zoning, Unions, City government? PMC is an obvious exception to the example. Office Buildings I understand to an extent with signing a Tenant but residential buildings I don’t understand it as much. The demand is clearly there.
|
It's not always the case. Projects like 1620 Sansom, 418 Spring Garden, etc. all got started pretty much the second they could. A lot of it is just waiting for the best time to get a construction loan.
Larger projects like the Comcast Technology Center, the Penn's Landing Cap, etc. all were announced before they were shovel ready in order to drum up public interest, for various reasons.
Threaded Mode