PHILADELPHIA | Highrise Development Thread IX

[PhillySteaks]

Originally Posted by summersm343

Wow Evo filled quick- they did a good job pre-leasing. I was also told that One Riverside will begin by the end of the year. Museum Towers II will begin by summer next year, and Edgewater is currently undergoing a redev for "Phase I" and "Phase II" will include the next tower which should start by the end of next year.

I can provide some details on edgewater soon. From my knowledge though, it isn't moving particularly fast.

[Dean4983]

Originally Posted by DIESELPOLO

Love PLL. Although, every time they go to Philly, they show the NY skyline. Most egregious example was last season when they went to Center City and had the Empire State building as the backdrop.

The tween set probably doesn't notice (and/or doesn't care).

I loathe myself for being able to comment on this but such is life. I thought the same exact thing at the end of that season. But At the beginning of the next season, you learn they actually were in NY. They had lied (in a pretty & little fashion) about being in Philly when they were actually in NY that evening. And the skyline shot was supposed to be a big reveal but ended up just being confusing.

[Philly Fan]

At the beginning of every academic year, the Penn freshman class (this year, the Class of 2018) assembles in Franklin Field for a special, commemorative photograph of their class. This year, Evo and a partially completed Lancaster Square made their debuts (just imagine how the backdrop of future versions of this photo will change over the next several years):



https://www.facebook.com/UnivPennsylvani...878775/10153084693518776/?type=1&theater

[christof]

Originally Posted by Philly Fan

At the beginning of every academic year, the Penn freshman class (this year, the Class of 2018) assembles in Franklin Field for a special, commemorative photograph of their class. This year, Evo and a partially completed Lancaster Square made their debuts (just imagine how the backdrop of future versions of this photo will change over the next several years):



https://www.facebook.com/UnivPennsylvani...878775/10153084693518776/?type=1&theater

Great shot.

[cafeguy]

Originally Posted by Dean4983

I loathe myself for being able to comment on this but such is life. I thought the same exact thing at the end of that season. But At the beginning of the next season, you learn they actually were in NY. They had lied (in a pretty & little fashion) about being in Philly when they were actually in NY that evening. And the skyline shot was supposed to be a big reveal but ended up just being confusing.

Hey man... don't worry none. They do the same thing for NYC sometimes. The Mindy Project used Hanneman hospital for a hospital in NYC! LOOK! The William Penn statue is in the background!

http://www.philebrity.com/2014/04/25/rea...-project-is-a-lie-takes-place-in-philly/

[PhiLaw]

Check out this rendering of the new Auto Park on 8th and Filbert:

http://philly.curbed.com/archives/2014/0...led-for-auto-park-at-8th-and-filbert.php

[DIESELPOLO]

Originally Posted by Dean4983

I loathe myself for being able to comment on this but such is life. I thought the same exact thing at the end of that season. But At the beginning of the next season, you learn they actually were in NY. They had lied (in a pretty & little fashion) about being in Philly when they were actually in NY that evening. And the skyline shot was supposed to be a big reveal but ended up just being confusing.

WHAT??! Dean! Say no more.

[MikeNigh]

Originally Posted by PhiLaw

Check out this rendering of the new Auto Park on 8th and Filbert:

http://philly.curbed.com/archives/2014/0...led-for-auto-park-at-8th-and-filbert.php

That is cool as hell!! The new standard in philly class

[sayitaintso]

Originally Posted by summersm343

Current Philadelphia Apartment Building Occupancy

Riverloft- 97%
2116 Chestnut- 95.6%
1835 Arch- 95.9%
One Franklin Town- 94.6%
Metropolitan- 93%
Edgewater- 92.9%
The Arch- 97.5%
777 South Broad- 98.6%
1500 Locust- 95.5%
The Sterling- 91.6%
The Sansom- 95%
2040 Market- 97%
Museum Towers- 95.1%
The Touraine- 94.5%
Lofts at Logan View- 96%
The St. James- 97%
Goldtex- 84%
Icon 1616- 89%
Domus- 99%
Southstar Lofts- 62%
Tower Place- 86%
The Left Bank- 98.5%
Locust on the Park- 94%
The Granary- 94%
1900 Arch- 62%
Evo- 83%

Wow Evo filled quick- they did a good job pre-leasing. I was also told that One Riverside will begin by the end of the year. Museum Towers II will begin by summer next year, and Edgewater is currently undergoing a redev for "Phase I" and "Phase II" will include the next tower which should start by the end of next year.

Awesome Thanks. Now I have to go back to your last report to see the movers, shakers and if we're just rearranging deck chairs or if there is actual growth

[summersm343]

Occupancy comparison

June to end of August


2116 Chestnut- 89.4% - 95.6%
Riverloft- 99% - 97%
1825 Arch- 95% - 95.9%
One Franklintown- 95% - 94.6%
The Metropolitan- 97% - 93%
Edgewater- 95.5% - 92.9% (but now undergoing redev)
The Arch- 96.5% - 97.5%
777 South Broad- 95% - 98.6%
1500 Locust- 95.5% - 95.5%
The Sterling- 85% - 91.6% (undergoing redev)
The Sansom- 95% - 95%
2040 Market- 98% - 97%
Museum Towers- 94% - 95.1%
The Touraine- 98% - 94.5%
Lofts at Logan View- 97% - 96%
The St. James- 98% - 97%
Goldtex- ?? - 84%
Icon- 79% - 89%
Domus- 97% - 99%
Southstar Lofts- 40% - 62%
Tower Place- 97.5% - 86%
The Left Bank- 98.5% - 98.5%
Locust on the Park- 98% - 94%
The Granary- 83% - 94%
1900 Arch- under construction - 62%
Evo- under construction - 83%

Looks like a little bit of moving around, but it looks like for the most part, buildings went unaffected by all of the new inventory coming on the market.

[Philly Fan]

Originally Posted by christof

Great shot.

If you liked the photo, you'll LOVE the video (be sure to go full screen)--Penn is really into using its quadcopter drones for cool aerial videos of the campus:

• Video Link

[Philly-Drew]

WOW!! You were right! I love that video!

[PhillySteaks]

Dirt is moving at 1919 Market St.

http://www.ocfrealty.com/naked-philly/logan-square/at-long-last-earth-is-moving-at-1919-market

Also, found out a little bit about edgewater today. Nothing anytime soon. The approval status of the development is a bullet in the chamber for when the developer wants to increase their Center City exposure. For the foreseeable future the focus will be on renovating the current building

[Flyers2001]

Originally Posted by PhillySteaks

Dirt is moving at 1919 Market St.

http://www.ocfrealty.com/naked-philly/logan-square/at-long-last-earth-is-moving-at-1919-market

Also, found out a little bit about edgewater today. Nothing anytime soon. The approval status of the development is a bullet in the chamber for when the developer wants to increase their Center City exposure. For the foreseeable future the focus will be on renovating the current building

Dang, not that this is a bad thing, was just hoping for a little bit more... well everything.

[Outta here]

Originally Posted by Flyers2001

Dang, not that this is a bad thing, was just hoping for a little bit more... well everything.

Agreed . My little bit more would have been another 300 feet .

[1487]

Originally Posted by Outta here

Agreed . My little bit more would have been another 300 feet .

I dont think there is any confirmation that this is the true start of work on 1919. So it's still possible the project will evolve before its all said and done.

[sayitaintso]

Originally Posted by summersm343

Occupancy comparison

June to end of August


2116 Chestnut- 89.4% - 95.6%
Riverloft- 99% - 97%
1825 Arch- 95% - 95.9%
One Franklintown- 95% - 94.6%
The Metropolitan- 97% - 93%
Edgewater- 95.5% - 92.9% (but now undergoing redev)
The Arch- 96.5% - 97.5%
777 South Broad- 95% - 98.6%
1500 Locust- 95.5% - 95.5%
The Sterling- 85% - 91.6% (undergoing redev)
The Sansom- 95% - 95%
2040 Market- 98% - 97%
Museum Towers- 94% - 95.1%
The Touraine- 98% - 94.5%
Lofts at Logan View- 97% - 96%
The St. James- 98% - 97%
Goldtex- ?? - 84%
Icon- 79% - 89%
Domus- 97% - 99%
Southstar Lofts- 40% - 62%
Tower Place- 97.5% - 86%
The Left Bank- 98.5% - 98.5%
Locust on the Park- 98% - 94%
The Granary- 83% - 94%
1900 Arch- under construction - 62%
Evo- under construction - 83%

Looks like a little bit of moving around, but it looks like for the most part, buildings went unaffected by all of the new inventory coming on the market.

Agreed, the losses are 2-3% while the gains are 5-10%. Some cannibalism but looks like net growth.

[PhiLaw]

Originally Posted by sayitaintso

Agreed, the losses are 2-3% while the gains are 5-10%. Some cannibalism but looks like net growth.

Yes, it looks like net growth even without taking into account the increase in supply. So we have a modest net decreases in vacancy despite many more units thrust onto the market. It shows sustainable residential growth and future construction.

[techchallenger]

Originally Posted by PhillySteaks

Also, found out a little bit about edgewater today. Nothing anytime soon. The approval status of the development is a bullet in the chamber for when the developer wants to increase their Center City exposure. For the foreseeable future the focus will be on renovating the current building

Curious - why do they feel the need to renovate an 8-year-old building?

[PhiLaw]

Historical Commission OKs Three Developments:

http://planphilly.com/articles/2014/08/2...e-st-construction-and-801-market-signage