PHILADELPHIA | Highrise Development Thread IX

[PhiLaw]

I am so pissed off at the Philadelphia media I can — a brick. All I heard all night was a preview of a "Mele" in love park during the Christmas tree lighting. All it showed was two women fighting. They are bringing this city down - pigs

[summersm343]

Originally Posted by PhiLaw

I am so pissed off at the Philadelphia media I can — a brick. All I heard all night was a preview of a "Mele" in love park during the Christmas tree lighting. All it showed was two women fighting. They are bringing this city down - pigs

I agree. Something has GOT TO BE DONE about the media.

[Flyers2001]

Originally Posted by PhiLaw

I am so pissed off at the Philadelphia media I can — a brick. All I heard all night was a preview of a "Mele" in love park during the Christmas tree lighting. All it showed was two women fighting. They are bringing this city down - pigs

I was actually flipping through channels and Fox had it live, they were going to go to commercial and the newscaster was so confused and then was like we are staying live.

What trash, fighting at a Christmas Tree lighting with children all around.

[Flyers2001]

By the way, I know there was previous discussion:

Deal reached on Phila.'s stalled land bank bill

http://www.philly.com/philly/news/politi..._reached_on_Phila__s_land_bank_bill.html


Happy they let go of Clarke's idea.

[summersm343]

I was just thinking about it, and it's looking like 2014 is going to be an awesome year for Philly and large construction projects

FMC Tower at Cira Centre South- 47 floors- 656 feet
W/Element Hotel- 52 floors- 582 feet
Avenue Place- 40 floors- 467? feet
The Evo- 33 floors- 430 feet
1919 Market- 28 floors- 367 feet
3601 Market- 28 floors- 320 feet
CHOP Buerger Center for Advanced Pediatric Care- 14 floors- 292 feet
Lancaster Square- 25 floors- 279 feet
38Chestnut- 25 floors- 278 feet
CHOP South Street Tower- 23 floors
One Riverside- 21 floors- 249 feet
3737 Market- 13 floors- 221 feet
Museum Towers II- 16 floors
Rodin Square- 10 floors
Penn College House at Hill Square- 7 floors

^^
and these are just the ones that are pretty much guaranteed to be under construction next year or are already under construction and still will be at the start of next year. I'm sure we'll get a few more surprises thrown in there.

[Pennsgrant]

Originally Posted by summersm343

I was just thinking about it, and it's looking like 2014 is going to be an awesome year for Philly and large construction projects

FMC Tower at Cira Centre South- 47 floors- 656 feet
W/Element Hotel- 52 floors- 582 feet
Avenue Place- 40 floors- 467? feet
The Evo- 33 floors- 430 feet
1919 Market- 28 floors- 367 feet
3601 Market- 28 floors- 320 feet
CHOP Buerger Center for Advanced Pediatric Care- 14 floors- 292 feet
Lancaster Square- 25 floors- 279 feet
38Chestnut- 25 floors- 278 feet
CHOP South Street Tower- 23 floors
One Riverside- 21 floors- 249 feet
3737 Market- 13 floors- 221 feet
Museum Towers II- 16 floors
Rodin Square- 10 floors
Penn College House at Hill Square- 7 floors

^^
and these are just the ones that are pretty much guaranteed to be under construction next year or are already under construction and still will be at the start of next year. I'm sure we'll get a few more surprises thrown in there.

Believe it when I see the first beam rise

FMC Tower at Cira Centre South- 47 floors- 656 feet
W/Element Hotel- 52 floors- 582 feet
Avenue Place- 40 floors- 467? feet
The Evo- 33 floors- 430 feet
1919 Market- 28 floors- 367 feet
3601 Market- 28 floors- 320 feet
CHOP Buerger Center for Advanced Pediatric Care- 14 floors- 292 feet
Lancaster Square- 25 floors- 279 feet
38Chestnut- 25 floors- 278 feet
CHOP South Street Tower- 23 floors
One Riverside- 21 floors- 249 feet
3737 Market- 13 floors- 221 feet
Museum Towers II- 16 floors
Rodin Square- 10 floors
Penn College House at Hill Square- 7 floors

[Larry King]

Originally Posted by Flyers2001

By the way, I know there was previous discussion:

Deal reached on Phila.'s stalled land bank bill

http://www.philly.com/philly/news/politi..._reached_on_Phila__s_land_bank_bill.html


Happy they let go of Clarke's idea.

Disaster

Council now controls sale of not only rda land but also all tax delinquent land ... im goong to puke

Lets all pray nutter kills this

[summersm343]

Originally Posted by Pennsgrant

Believe it when I see the first beam rise

W/Element Hotel- 52 floors- 582 feet
1919 Market- 28 floors- 367 feet
One Riverside- 21 floors- 249 feet
Museum Towers II- 16 floors
Rodin Square- 10 floors

Why do you think these won't get off the ground?

W Hotel- I have faith in this one... it is being built by a multimillionare in partnership with Starwood Hotels- a nationwide reputable hotel developer

1919 Market- being built by Brandywine Realty Trust, a very reputable developer- they are currently building the Evo and will build FMC Tower as well.

One Riverside- being built by Dranoff Properties. We all know Dranoff has a good track record with getting projects off the ground, even if a lot of you do not like the finished products. You think Avenue Place will get off the ground and not this one? Yet this one is much further along in the development process.

Museum Towers II- being built by Forest City, a very reputable nationwide developer.

Rodin Square- being built by a multimillionare in partnership with Toll Brothers.

I could see if these were small time no track record developers but these are big name developers developing these buildings. You don't have faith in any of these?

[bucks native]

source: http://money.cnn.com/2013/12/04/real_estate/chinese-homebuyers/?google_editors_picks=true

Top 10 U.S. cities for Chinese homebuyers

1. NYC
2. LA
3. Philadelphia

[summersm343]

Originally Posted by bucks native

source: http://money.cnn.com/2013/12/04/real_estate/chinese-homebuyers/?google_editors_picks=true

Top 10 U.S. cities for Chinese homebuyers

1. NYC
2. LA
3. Philadelphia

Nice!

[PHL10]

Originally Posted by summersm343

I was just thinking about it, and it's looking like 2014 is going to be an awesome year for Philly and large construction projects

Avenue Place- 40 floors- 467? feet

Summers, according to this blog, the proposed height is 567ft:


“The main portion of the tower would rise 430 feet, but with the penthouses included, it would rise 567 feet.”

http://blog.philadelphiarealestate.com/p...cypress-street-grid-put-south-broad-map/

[christof]

Originally Posted by buildup

I saw in the CIS Reports that at this time construction of the W Hotel will begin in late Spring 2014 (Est. $200,000,000).

We have to suffer and wait on Comcast. We should have a pool on the height of the new tower. I'd like to see it near 1,300' with a smallish (by today's standards) 175' crown or better to beat out Chicago's Willis Building.

1681 would be my guess. Historically significant # for Philly...

[Pennsgrant]

Originally Posted by summersm343

Why do you think these won't get off the ground?

W Hotel- I have faith in this one... it is being built by a multimillionare in partnership with Starwood Hotels- a nationwide reputable hotel developer

1919 Market- being built by Brandywine Realty Trust, a very reputable developer- they are currently building the Evo and will build FMC Tower as well.

One Riverside- being built by Dranoff Properties. We all know Dranoff has a good track record with getting projects off the ground, even if a lot of you do not like the finished products. You think Avenue Place will get off the ground and not this one? Yet this one is much further along in the development process.

Museum Towers II- being built by Forest City, a very reputable nationwide developer.

Rodin Square- being built by a multimillionare in partnership with Toll Brothers.

W Hotel ? This piece of property has had grand plans for 20 years now. Nothing ever gets done. Isn't there a lawsuit amongst former partners for this project? Hotel competition is pretty fierce may be a race with Dranoff who gets the jump.? Yeah the latest news sounds promising but I'm skeptical here.

1919 Market- How long have we been hearing about this site being developed? 10-15 years. For the same reasons you state. Brandywine has bigger fish to fry with their new office development and acquisitions,they may take their good old time to see how the influx of apartments settles.

One Riverside- Nimby's. Dranoff may go in a different direction with his 40story tower on South Broad.

Museum Towers- Don't know enough about this project but it doesn't pass the sniff test for me.

Rodin Square- Basing my skepticism here on past broken promises. and Massive influx of new apartments coming onto the market.


Look at all the new apartment projects that have recently been completed or are in construction/about to be constructed. There has to be an eventual measurable surplus coming on the market, developers are going to have to reevaluate the market after this latest wave ends.


Hope I am dead wrong on all of them but those were the projects that stood out to me as "This might not happen".

I'm more inclined to think that Comcast will get off the ground within the next year. And Theres always that surprise development that comes out of nowhere and gets immediately developed.

[Jelly Roll]

Originally Posted by Pennsgrant

Rodin Square- Basing my skepticism here on past broken promises. and Massive influx of new apartments coming onto the market.


Look at all the new apartment projects that have recently been completed or are in construction/about to be constructed. There has to be an eventual measurable surplus coming on the market, developers are going to have to reevaluate the market after this latest wave ends.

Given the size of the city there has not been that many apartment units added and the ones that have been completed have been filled. There is still a shortage of high end apartments in Center City.

[Pennsgrant]

Originally Posted by Jelly Roll

Given the size of the city there has not been that many apartment units added and the ones that have been completed have been filled. There is still a shortage of high end apartments in Center City.

1900 Arch
2116 Chestnut
Sansom Place
Granary
2040 Market
Tower Place
Piazza
Evo Cira South
36th Market
38th Chestnut
777 Broad
SouthStar Lofts
1100 Chestnut
Many other smaller projects. These projects still need to absorb potential demand. That's a couple thousand units coming onto the market in a relatively short amount of time. I'm curious to see how it all plays out.

[Larry King]

Originally Posted by Pennsgrant

1900 Arch
2116 Chestnut
Sansom Place
Granary
2040 Market
Tower Place
Piazza
Evo Cira South
36th Market
38th Chestnut
777 Broad
SouthStar Lofts
1100 Chestnut
Many other smaller projects. These projects still need to absorb potential demand. That's a couple thousand units coming onto the market in a relatively short amount of time. I'm curious to see how it all plays out.

Occupancy rates are insane right now

Theres plenty of capital for all these projects

Even if we end up with a glut of apartments 2 years from now.. I imagine it wont last too long given how the city is doing these days

Developers will develop until they develop too much... lets let nature take its course

[summersm343]

Originally Posted by PHL10

Summers, according to this blog, the proposed height is 567ft:


“The main portion of the tower would rise 430 feet, but with the penthouses included, it would rise 567 feet.”

http://blog.philadelphiarealestate.com/p...cypress-street-grid-put-south-broad-map/

That's a typo. It's 467 feet.

[summersm343]

Originally Posted by Pennsgrant

1900 Arch
2116 Chestnut
Sansom Place
Granary
2040 Market
Tower Place
Piazza
Evo Cira South
36th Market
38th Chestnut
777 Broad
SouthStar Lofts
1100 Chestnut
Many other smaller projects. These projects still need to absorb potential demand. That's a couple thousand units coming onto the market in a relatively short amount of time. I'm curious to see how it all plays out.

Sansom Place? You mean the Sansom... it's already nearly 100% occupied. So is 2116 Chestnut. The Granary is only 50% occupied but I think that is because of the ridiculous asking rents for the location. If they come down in price, the building will get filled much faster. 2040 Market is also nearly 100% occupied. Tower Place is also only about 50% but again that's the ridiculous asking rents for the location. Piazza and 777 have been completed for years and have been doing good for years.

There is a less than 2% apartment vacancy rate in Center City. Dallas and Houston have over a 10% apartment vacancy rate last time I checked. Even if people stopped moving into Center City today (which isn't happening), Center City could afford to absorb a few more new towers no problem.


What is up with you and being extremely negative about EVERYTHING the past few days? Is this just how you always are? You're turning a generally cheery forum into something I'm not enjoying reading right now. Stop being such a downer.

[summersm343]

Toll Brothers to buy the lot at 1911 Walnut for condos and a possible hotel

Toll Brothers Inc. is exploring constructing a mixed-use development on a long-vacant site on Rittenhouse Square in Philadelphia.

The Horsham, Pa., homebuilder is reportedly in talks to buy 1911 Walnut St. with an eye toward building a condominium tower that would have a hotel and retail space, according to several sources familiar with the situation. This would expand Toll’s footprint in Philadelphia, where it has developed Naval Square, a residential project in Society Hill and South Street.

http://www.bizjournals.com/philadelphia/...oll-bros-sets-sights-on-rittenhouse.html

[Larry King]

Originally Posted by summersm343

Toll Brothers to buy the lot at 1911 Walnut for condos and a possible hotel



http://www.bizjournals.com/philadelphia/...oll-bros-sets-sights-on-rittenhouse.html

That irish group seriously overpaid.. about time someone took that lot off their hands

I know toll was looking at another deal on walnut across from indendence hall.. wonder if they dropped that project for this one or they intend on doing both

You know the economy is back when condo projects like this are on the drawing board