PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[3rd&Brown]

Originally Posted by PHLtoNYC

Latest GDP data is available for the data nerds... The Philadelphia area is out of the top 10. The region was close with Seattle and Atlanta for a few years, but is officially #11 (for now).

I know GDP is a specific economic metric, but Philadelphia is losing ground on other Tier 2 cities (Dallas/Houston/Atlanta/Seattle/Boston/Miami).

That's unfortunate, but this was also released by the BLS vis a vis the December state level jobs report:

"Over the year, nonfarm payroll employment increased in 8 states, decreased in the District of Columbia, and was essentially unchanged in 42 states. The largest job gains occurred in Texas (+132,500), North Carolina (+80,700), and Pennsylvania (+76,600). The largest percentage increases occurred in Missouri (+1.8 percent), North Carolina (+1.6 percent), and South Carolina (+1.4 percent). Employment decreased in the District (-32,400, or -4.2 percent)."

I don't think I've ever seen PA in the top 3 states in absolute new job numbers. Remember, we beat out California, Florida, and a myriad of other sunbelt states.

https://www.bls.gov/news.release/laus.nr0.htm

[UrbanRevival]

Originally Posted by 3rd&Brown

I don't think I've ever seen PA in the top 3 states in absolute new job numbers. Remember, we beat out California, Florida, and a myriad of other sunbelt states.https://www.bls.gov/news.release/laus.nr0.htm

This is very true. And more to the point, it's disproportionately being driven by the Philadelphia area. Amongst the 56 metro areas with 1 million or more, Philly is now 3rd for total job growth, and ties for 5th for percentage job growth.

This is actually an important point the context of the metro GDP rank. We're now clearly entering a new economic era where GDP is effectively becoming completely detached from things like job, income and population growth. If you look at metros like San Francisco, Boston and Seattle, they've all lost jobs year-over-year according to the BLS.

This is entirely due to the impact of AI (and the development of AI infrastructure) creating "economic productivity" without masses of actual people involved to economically benefit from said productivity. It's no secret that SF, Boston and Seattle are major tech hubs with companies that have implemented AI most aggressively to date.

This kind of trend should actually be raising many more alarm bells as far as how this will continue to impact workforces and job growth moving forward. But I fear we'll have to see a lot more displacement (and ignoring that it's actually happening) before there's any serious acknowledgement of it.

[PHLtoNYC]

One of Saks oldest locations.
The fall of the American department store continues.

Saks Fifth Avenue in Bala Cynwyd is closing
https://www.inquirer.com/business/retail/saks-fifth-avenue-bala-cynwyd-closing-20260210.html

After decades in business, the expansive store along City Avenue is expected to close at the end of April, according to a Saks Global spokesperson, who said decisions were based on several factors, including store performance and “lease economics.”

As part of the company’s restructuring, it will also shutter seven other Saks Fifth Avenue stores, including at the American Dream mall in North Jersey, as well as a Neiman Marcus in Boston.

[mcgrath618]

Originally Posted by PHLtoNYC

One of Saks oldest locations.
The fall of the American department store continues.

Saks Fifth Avenue in Bala Cynwyd is closing
https://www.inquirer.com/business/retail/saks-fifth-avenue-bala-cynwyd-closing-20260210.html

After decades in business, the expansive store along City Avenue is expected to close at the end of April, according to a Saks Global spokesperson, who said decisions were based on several factors, including store performance and “lease economics.”

As part of the company’s restructuring, it will also shutter seven other Saks Fifth Avenue stores, including at the American Dream mall in North Jersey, as well as a Neiman Marcus in Boston.

Fun fact! There was a 1700s mansion on this site prior to the Saks! It was demolished to make room for...
...the parking lot.

[PHLtoNYC]

Originally Posted by mcgrath618

Fun fact! There was a 1700s mansion on this site prior to the Saks! It was demolished to make room for...
...the parking lot.

Interesting. The cycle of life!
I wouldn't be surprised if Saks got demolished for an apartment building (like L&T).

[iamdjmichael]

Originally Posted by Arch+Eng

Looks like Wilmington is getting a new 12 story building downtown.

907 Jefferson St.
138'-6"

Is there a link to a planning doc for this, I can’t find anything about it.

[domodeez]

Incyte to sell Bracebridge buildings to BPG
https://delawarebusinesstimes.com/news/incyte-to-sell-bracebridge-buildings-to-bpg/

Incyte Corporation will sell the two buildings it once planned to use as its downtown Wilmington headquarters to the Buccini Pollin Group, opting to remain in its current space in the Alapocas.

Incyte announced on Wednesday that it had signed an agreement with BPG to sell 1100 N. King Street and 1100 N. French Street in downtown Wilmington. The buildings are informally known as Bracebridge I and III from when they were part of the MBNA massive campus; Incyte planned to turn the facilities into its headquarters with research and development space after extensive renovations.

Incyte stated that it will remain “an integral part of the project” and will lease 80,000 square feet of space across two floors in Bracebridge I for 10 years, according to Incyte representative Catalina Loveman. That is 15% of the 517,000 square feet of space it planned to occupy.

Incyte is reportedly evaluating its space needs as it works to finalize plans, Loveman said. The biopharmaceutical company said the two floors would accommodate up to 200 employees, or one-fourth of the jobs it presented to state officials in 2024.

…

BPG is exploring a mixed-use development concept for the Bracebridge buildings.

[Arch+Eng]

Originally Posted by iamdjmichael

Is there a link to a planning doc for this, I can’t find anything about it.

I dont see any renderings or plans posted online either.
But the project is called Village of Francis & Clare.
You can see some sites talking about them receiving funding for this building.

[PHLtoNYC]

Brandywine is building a new Marriott Tribute Portfolio in Radnor. Good to see a new high-end hotel option in the immediate suburbs.

Brandywine's $60M Main Line hotel with rooftop cocktail bar sets spring opening
https://www.bizjournals.com/philadelphia...ine-hotel-radnor-main-line-marriott.html

Brandywine Realty Trust plans to open its 121-room hotel in Radnor this spring.

The $60 million development, named The Brandywine, is at 165 King of Prussia Road. It’ll be part of the Marriott Bonvoy Tribute Portfolio and operated by Plano, Texas-based Aimbridge Hospitality.

Dining concepts Merrick’s Tavern and Pomelo Rooftop Terrace will also be part of the 80,000-square-foot Main Line development.

The hotel is just west of the SEPTA’s Radnor regional rail station and north of specialty materials company Arkema’s U.S. headquarters at 155 King of Prussia Road, which Brandywine completed in 2024. Lincoln Financial Group and Avantor are both headquartered in Brandywine’s Radnor properties. Penn Medicine’s Radnor campus is just south of the hotel.

[PHLtoNYC]

Another big win for the region and state.

Johnson & Johnson to build $1B cell therapy manufacturing plant in Montgomery County
https://www.bizjournals.com/philadelphia...n-johnson-cell-therapy-spring-house.html

Johnson & Johnson unveiled plans Wednesday to build a more than $1 billion cell therapy manufacturing plant in Montgomery County.

The plant will be built on a 154-acre property at 1201 Sumneytown Pike in Spring House, Lower Gwynedd Township. The site is about a mile from Johnson & Johnson's 171-acre research and development campus in Spring House. That campus, at McKean and Welsh roads, houses about 2,500 employees.

The Sumneytown Pike site for the new manufacturing plant has an existing 157,000-square-foot building but is otherwise undeveloped. It was sold by Gwynedd Mercy University for $31.5 million in 2022 to Beacon Capital Partners, a Boston real estate investment firm that owns the nearby Spring House Innovation Park. Johnson & Johnson (NYSE: JNJ) said it would own and develop the property.

The plant, slated to open in 2031, is expected to create 4,000 temporary construction jobs and 500 permanent biomanufacturing jobs.

Gov. Josh Shapiro said in a statement that the project is further proof Pennsylvania is emerging as a "powerhouse" for innovation and manufacturing in the life sciences.

[Redddog]

Originally Posted by PHLtoNYC

Another big win for the region and state.

Johnson & Johnson to build $1B cell therapy manufacturing plant in Montgomery County
https://www.bizjournals.com/philadelphia...n-johnson-cell-therapy-spring-house.html

Johnson & Johnson unveiled plans Wednesday to build a more than $1 billion cell therapy manufacturing plant in Montgomery County.

The plant will be built on a 154-acre property at 1201 Sumneytown Pike in Spring House, Lower Gwynedd Township. The site is about a mile from Johnson & Johnson's 171-acre research and development campus in Spring House. That campus, at McKean and Welsh roads, houses about 2,500 employees.

The Sumneytown Pike site for the new manufacturing plant has an existing 157,000-square-foot building but is otherwise undeveloped. It was sold by Gwynedd Mercy University for $31.5 million in 2022 to Beacon Capital Partners, a Boston real estate investment firm that owns the nearby Spring House Innovation Park. Johnson & Johnson (NYSE: JNJ) said it would own and develop the property.

The plant, slated to open in 2031, is expected to create 4,000 temporary construction jobs and 500 permanent biomanufacturing jobs.

Gov. Josh Shapiro said in a statement that the project is further proof Pennsylvania is emerging as a "powerhouse" for innovation and manufacturing in the life sciences.

Nice.

[3rd&Brown]

Originally Posted by PHLtoNYC

Another big win for the region and state.

Johnson & Johnson to build $1B cell therapy manufacturing plant in Montgomery County
https://www.bizjournals.com/philadelphia...n-johnson-cell-therapy-spring-house.html

Johnson & Johnson unveiled plans Wednesday to build a more than $1 billion cell therapy manufacturing plant in Montgomery County.

The plant will be built on a 154-acre property at 1201 Sumneytown Pike in Spring House, Lower Gwynedd Township. The site is about a mile from Johnson & Johnson's 171-acre research and development campus in Spring House. That campus, at McKean and Welsh roads, houses about 2,500 employees.

The Sumneytown Pike site for the new manufacturing plant has an existing 157,000-square-foot building but is otherwise undeveloped. It was sold by Gwynedd Mercy University for $31.5 million in 2022 to Beacon Capital Partners, a Boston real estate investment firm that owns the nearby Spring House Innovation Park. Johnson & Johnson (NYSE: JNJ) said it would own and develop the property.

The plant, slated to open in 2031, is expected to create 4,000 temporary construction jobs and 500 permanent biomanufacturing jobs.

Gov. Josh Shapiro said in a statement that the project is further proof Pennsylvania is emerging as a "powerhouse" for innovation and manufacturing in the life sciences.

So in summary, recent lab & manufacturing expansions from the majors include:
Eli Lilly $3.5BN Manufacturing Plant, Upper Macungie Twp. Lehigh County
Eli Lilly $X.XMM Innovation Center, Center City Philadelphia
J & J $1.0BN Cell Manufacturing Plant, Lower Gwynedd Twp. Montco
GSK $0.8BN Multi Purpose Facility, Marietta Twp, Lancaster County
Merck $1.0BN Biologics Manufacturing Facility, Wilmington DE

Let's keep it rolling.

[PHLtoNYC]

Originally Posted by 3rd&Brown

So in summary, recent lab & manufacturing expansions from the majors include:
Eli Lilly $3.5BN Manufacturing Plant, Upper Macungie Twp. Lehigh County
Eli Lilly $X.XMM Innovation Center, Center City Philadelphia
J & J $1.0BN Cell Manufacturing Plant, Lower Gwynedd Twp. Montco
GSK $0.8BN Multi Purpose Facility, Marietta Twp, Lancaster County
Merck $1.0BN Biologics Manufacturing Facility, Wilmington DE

Let's keep it rolling.

And the obvious... The vast majority of economic power and growth in PA is in Greater Philadelphia, Lehigh Valley and Lancaster... not Indiana County.

[3rd&Brown]

Originally Posted by PHLtoNYC

And the obvious... The vast majority of economic power and growth in PA is in Greater Philadelphia, Lehigh Valley and Lancaster... not Indiana County.

This is just the beginning hopefully. As they get built, hopefully the other manufacturers in their supply chains follow suit and site themselves in this area.

I'd love to see one of these behemoths land in Delaware County or at Bellweather.

[UrbanRevival]

Originally Posted by PHLtoNYC

And the obvious... The vast majority of economic power and growth in PA is in Greater Philadelphia, Lehigh Valley and Lancaster... not Indiana County.

100%. The future of Pennsylvania is entirely in its southeastern quadrant + Allegheny County. It's time for all of Pennsylvania to recognize that and invest accordingly.

[3rd&Brown]

Originally Posted by UrbanRevival

100%. The future of Pennsylvania is entirely in its southeastern quadrant + Allegheny County. It's time for all of Pennsylvania to recognize that and invest accordingly.

I think there's a case to be made that the growth that's occured in the Lehigh Valley will hop up to Scranton / Wilkes Barre as the Lehigh Valley gets more and more expensive and built out.

I think to some degree it's already happening.

And can't forget about State College.

Otherwise, IMO, the rest of the state should focus on being pretty and for tourists. I'm always amazed by how expensive the Hudson Valley has gotten. The weather is miserable, the countryside not that pretty. PA's rural counties full of rolling hills and small towns should be eating upstate New York's lunch.

[UrbanRevival]

Originally Posted by 3rd&Brown

I think there's a case to be made that the growth that's occured in the Lehigh Valley will hop up to Scranton / Wilkes Barre as the Lehigh Valley gets more and more expensive and built out.

I think to some degree it's already happening.

And can't forget about State College.

Otherwise, IMO, the rest of the state should focus on being pretty and for tourists. I'm always amazed by how expensive the Hudson Valley has gotten. The weather is miserable, the countryside not that pretty. PA's rural counties full of rolling hills and small towns should be eating upstate New York's lunch.

Fair points. The tourism potential of rural PA is definitely very untapped/underrated, even amongst many Pennsylvanians.

[mcgrath618]

Gonna stand on my soapbox here and say that improved passenger rail is essential to the success of this region.

Beyond the idea that SEPTA shouldn't be in the freefall it's in right now, there is also no reason I shouldn't be able to take a train from Philadelphia to Allentown.

[BroadandMarket]

Originally Posted by 3rd&Brown

Otherwise, IMO, the rest of the state should focus on being pretty and for tourists. I'm always amazed by how expensive the Hudson Valley has gotten. The weather is miserable, the countryside not that pretty. PA's rural counties full of rolling hills and small towns should be eating upstate New York's lunch.

The Hudson valley has the exact same weather and countryside as PA though? The main difference is that Metro-North services Beacon and Poughkeepsie. Amtrak services Albany, Hudson, Rhinecliff, Poughkeepsie, Saratoga Springs etc. Tons of people NYC moved to these towns during covid.

There's multiple small cities in the Hudson valley that would be by far the coolest / trendiest in rural PA. Kingston, Beacon, Hudson and Woodstock are all great. Honesdale, East Stroudsburg and Jim Thorpe would be similar but still far less trendy. I find most of the Poconos really depressing. There's no cute little towns with main streets for the most part, just sad strip malls.

[3rd&Brown]

Originally Posted by BroadandMarket

The Hudson valley has the exact same weather and countryside as PA though? The main difference is that Metro-North services Beacon and Poughkeepsie. Amtrak services Albany, Hudson, Rhinecliff, Poughkeepsie, Saratoga Springs etc. Tons of people NYC moved to these towns during covid.

There's multiple small cities in the Hudson valley that would be by far the coolest / trendiest in rural PA. Kingston, Beacon, Hudson and Woodstock are all great. Honesdale, East Stroudsburg and Jim Thorpe would be similar but still far less trendy. I find most of the Poconos really depressing. There's no cute little towns with main streets for the most part, just sad strip malls.

I find the Poconos depressing as well. But I'm not talking about the Poconos. What's to say a NY'er shouldn't have a weekend house in Columbia County? Sullivan County? Those areas are beautiful. Have an old farmhouse perched on a hillside somewhere then drive into town in Bloomsburg or Lewisburg and have your brunch and antique shopping, etc. A lof of our small towns and cities already have what upstate NY has. It's just that nobody knows about it.

And yes, the weather in upstate NY is not the same as it is in rural PA. Winter starts in October and ends in May in upstate New York. Utterly depressing.

Also, those trains go upstate but at least the homeowners aren't taking them. They're all driving, even from NYC.