Quote:
Originally Posted by summersm343
^^
Exactly. The last proposal was 6 floors. This seems like a wasted opportunity after that was approved.
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Actually, the last proposal was a row of houses.
The proposal before that was 6 stories and from somebody who had never developed a single property (i.e. never going to happen).
I think that this is much better than anything that's been proposed. Frankly, it looks like a stellar commercial space that could attract the kind of restaurant that is lacking in Northern Liberties (i.e. one that will actually attract people from outside the neighborhood), potentially igniting retail along that stretch, which face it, is lagging behind other development in the neighborhood.
The residential in NoLibs is light years ahead of the commercial. Hell, even the commercial in Fishtown is surpassing the commercial in NoLibs. My personal theory is that most of the people in that industry in Philadelphia dislike Blatstein immensely so their way of demonstrating that dislike is that they've avoided making his investments more valuable by not putting or becoming tenants in or anywhere near his developments.
Even Stephen Starr said a few years ago that he would never open a spot in Northern Liberties because that would be "expected". Interpret that how you want...I have my own theories.
Let's just say that average household income in Northern Liberties' 4 census tracts is in the $90K range. It's over $100K in the tract that includes WaterFront Square. The incomes in this quadrant NE of Center City are among the HIGHEST in all of Philadelphia...higher than even some more gentrified neighborhoods. Yet, retail continues to struggle on the 2nd Street corridor.
This could help to change that if whatever was in the space (i.e. a destination restaurant) attracted enough traffic to generate more retail infill.
That is needed in NoLibs more than any mediocre mid-rise building.
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, how many billions would the 21st 22nd street one cost or is there infrastructure already there? 
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