PHILADELPHIA | Highrise Development Thread IX

[summersm343]

About SLS, Southstar Lofts, and future Dranoff buildings

"Southstar Lofts leased in record time. It's fully occupied, and it only opened in April," Dranoff said. "The next big thing is the ground floor restaurants that will open this fall."

Next up for Dranoff on the Avenue is the SLS International Hotel and Residences. Announced to much fanfare in 2013, the Kohn Pedersen Fox-designed hotel-condo tower will be the city's tallest residential building as well as the tallest building on Broad Street. Although things have been quiet since the announcement, Dranoff said he is ready to roll with the project.

"The SLS Hotel and Residences will break ground next year, and this will completely change the character of South Broad Street," he said. "Unless you've been to an SLS hotel in another part of the country, you have no idea how much glamour they will be putting on the street." SLS owner sbe currently operates hotels in Los Angeles, Miami Beach and Las Vegas, with a fourth set to open in New York next year. The Philadelphia property, set to open in 2016, will be the chain's fifth and its second to combine hotel rooms and residences.

And in keeping with the formula that has brought Dranoff success on South Broad thus far, restaurants will be a key component of the project. "Most hotels get two-thirds of their revenue from room rentals and one-third from food and beverage sales," he said. "They're the opposite of that, because their restaurants are so over-the-top, they're incredible."

And Dranoff won't be done with South Broad Street when SLS opens, either. "We have other buildings in mind on South Broad, but we're not ready to disclose what they are," he said.

http://www.phillyliving.com/blog/dranoff-on-going-deep-on-the-avenue-of-the-arts.html

[DIESELPOLO]

Originally Posted by Philly Fan

Well, it will be on the Penn campus, one of the best-patrolled areas of the city. Not to mention that with both HUP and CHOP right there, there's a lot of activity in that area 24/7. And there are other Penn and CHOP garages nearby (e.g., Penn Museum) that have been relatively crime-free for decades. I wouldn't worry too much about crime or robberies in this particular garage:



http://www.publicsafety.upenn.edu/UPPD/

I would gather that CypressClinton's sentiments are more geared toward the "parking garage adjacent to transit station in downtown area" issue, rather than questioning the patrol coverage of Penn's facilities.

That said, not sure there was much debate on the viability of other building types here other than a parking garage. The overt parking garage look is killing me too though.

[Philly Fan]

Originally Posted by DIESELPOLO

I would gather that CypressClinton's sentiments are more geared toward the "parking garage adjacent to transit station in downtown area" issue, rather than questioning the patrol coverage of Penn's facilities.

That said, not sure there was much debate on the viability of other building types here other than a parking garage. The overt parking garage look is killing me too though.

Perhaps. But I think we should keep in mind that this is located in the midst of a world-class medical clinical/research complex on the edge of a relatively large (300 acres) Ivy League university campus, and NOT in the heart of a downtown business district. Not to mention that there are additional plans for a Penn Medicine tower to be built on this site. And the transit station at that location serves University City and, more specifically, Penn and CHOP. So I don't think we should evaluate this location the way we would a location in Center City. It's just not the same in terms of the the requirements of urban design, in my opinion.

[GarCastle]

Originally Posted by Philly Fan

Perhaps. But I think we should keep in mind that this is located in the midst of a world-class medical clinical/research complex on the edge of a relatively large (300 acres) Ivy League university campus, and NOT in the heart of a downtown business district. Not to mention that there are additional plans for a Penn Medicine tower to be built on this site. And the transit station at that location serves University City and, more specifically, Penn and CHOP. So I don't think we should evaluate this location the way we would a location in Center City. It's just not the same in terms of the the requirements of urban design, in my opinion.

Well the garage is phase 1 and a pre-requisite to tearing down the Penn Tower garage. The second phase will be my future office on the front of the garage likely 14+ stories (I posted a couple of the illustrations a few months ago). True that the lunch options are going to —, but hopefully there will be a few food trucks sprouting up.

It's kind of annoying that Septa will announce CHOP at the University City train stop but not the university that it is indirectly named after which out-profits and out-sizes that bunch of babies (Pun-intended!).

If we are lucky (we as in those that need to eat lunch and will never bring lunch based on years of habit), the plans for the tower could include some retail space. But since it's going to be a corporate building, they might just skip that whole idea. I'll plant what ideas I can in the ears of some that might have an eventual say LOL. It's pretty far off though, 2017 last I heard but then again that would mean that would need to think about what would go in it pretty soon.

Cheers,
G.

[Philly Fan]

Originally Posted by GarCastle

The second phase will be my future office on the front of the garage likely 14+ stories (I posted a couple of the illustrations a few months ago).

Is that the latest? 14 stories? I thought it was going to be a bit taller than that (of course, you did include the "+"). And will it be primarily offices? Or also more clinical and/or research space?

[christof]

Speaking of CHOP, is there an update on construction at the JFK site? I thought it was suppose to start in the summer. But we are now entering October, and still nothing...

[josef]

Originally Posted by summersm343

About SLS, Southstar Lofts, and future Dranoff buildings

http://www.phillyliving.com/blog/dranoff-on-going-deep-on-the-avenue-of-the-arts.html

I love that the guy's super active buildings things in Philly. And I love the SLS, I can't wait to watch that go up. I just wish he wouldn't stand by for 10 years sitting on development rights letting one of the only remaining historic RCA buildings in Camden get so bad it's basically been condemned.

http://njpovertyreality.wordpress.com/2014/08/06/downtown-danger/

http://njpovertyreality.wordpress.com/2014/09/11/radio-lofts-be-demolished/

http://www.philly.com/philly/blogs/inq-blinq/Blogger-.html

[Jawnadelphia]

Originally Posted by Philly Fan

Is that the latest? 14 stories? I thought it was going to be a bit taller than that (of course, you did include the "+"). And will it be primarily offices? Or also more clinical and/or research space?

This has been on the UPenn site for a long time:
"Walnut Street Gateway redevelopment (north side) — Accommodates mixed-use development that could include retail, office, residential and parking. An estimated 1.3 million square feet could be provided on the site in a combination of podium and tower development. Two towers are proposed. The 20 story north tower and the 45 story south tower are planned over an 8-story podium. The result is a complex of buildings defining the Chestnut, Walnut and Schuylkill Avenue street edges with active uses and strong architectural expression."



http://www.pennconnects.upenn.edu/explore_the_vision/the_future_campus.php#landUse

[Philly Fan]

Originally Posted by TallCoolOne

This has been on the UPenn site for a long time:
"Walnut Street Gateway redevelopment (north side) — Accommodates mixed-use development that could include retail, office, residential and parking. An estimated 1.3 million square feet could be provided on the site in a combination of podium and tower development. Two towers are proposed. The 20 story north tower and the 45 story south tower are planned over an 8-story podium. The result is a complex of buildings defining the Chestnut, Walnut and Schuylkill Avenue street edges with active uses and strong architectural expression."http://www.pennconnects.upenn.edu/explore_the_vision/the_future_campus.php#landUse

That's a different site. I was asking about the proposed Penn Medicine tower on the site where the garage is currently being built on Civic Center Boulevard (http://www.facilities.upenn.edu/maps/locations/uphs-garage), whereas that language discusses what is the current Evo/FMC Tower development bounded by Walnut and Chestnut Streets and Schuylkill Avenue.

[Jawnadelphia]

Originally Posted by Philly Fan

I was asking about the proposed Penn Medicine tower on the site where the garage is currently being built on Civic Center Boulevard (http://www.facilities.upenn.edu/maps/locations/uphs-garage), whereas that language refers to what is the current Evo/FMC Tower development.

I see ... there's just too damn much going on over there ...I get confused.

[Philly Fan]

Originally Posted by TallCoolOne

I see ... there's just too damn much going on over there ...I get confused.

No problem. I appreciate the attempt to answer my question!

[theWatusi]

The spoils of the Marcellus Shale gas fields will gush into the core of the city and its suburbs through broad new pipelines. Gargantuan processing facilities, built with billions of dollars of global capital, will rise like steel stalagmites along the Schuylkill and Delaware rivers. New factories — lured by the abundant low-cost energy the pipelines provide — will hire thousands of working-class residents to make plastic, steel, cement and countless consumer goods. Air pollution will increase, but so will the local GDP, as energy traders and executives fill up downtown office buildings.

http://www.phillymag.com/articles/philadelphia-pipeline-americas-next-energy-hub/

[summersm343]

Groundbreaking for East Market Development set for Thursday!

An official ground breaking is scheduled for Thursday on East Market, one of the developments expected to have a transformative effect along East Market Street in Philadelphia.
Lt. Gov. Jim Cawley and Philadelphia Mayor Michael A. Nutter will participate in the ceremony to mark the beginning of demolition and construction of the project.

http://www.bizjournals.com/philadelphia/...und-breaking-of-east-market-set-for.html

[Flyers2001]

Originally Posted by DIESELPOLO

I would gather that CypressClinton's sentiments are more geared toward the "parking garage adjacent to transit station in downtown area" issue, rather than questioning the patrol coverage of Penn's facilities.

That said, not sure there was much debate on the viability of other building types here other than a parking garage. The overt parking garage look is killing me too though.

at lot 51 which is directly across the street there are Penn Police located there from 7-7. The new lot will be no different.

The location of this lot is about 1/4 a mile from the train station. The station sits directly behind Penn Towers lot and Lot 7. As mention Penn Tower's garage seems to be on target for Sept of 15 demolition.

The new building attached to the new garage will be developed by Brandy wine and leased back to Penn. 14 floors is the absolute min. The foot print is small and anything being built is going up.

Plans are sketchy on the new building because of what may replace penn tower. Penn is in negotiations with Pen dot and Chop as a request to move the street dividing Penn Tower property and the Performance building, with plans for a new wing of the hospital. Trauma leaves HUP and heads to Presby in Feb. Look for Penn to do what Jefferson has promised in opening outpatient clinics. Those type of procedures now account for 50% of revenue.

sorry for the post being all over the place but there is a lot of plans that happen to change quite of but regarding the U city med area.

By the way besides The Penn police, HUP and Chop have security teams that mimic police forces in rankings and the ability to take people into custody. Its a reason that their salaries area on par with Philly police officers. The two companies stress safety.

[GarCastle]

Originally Posted by Flyers2001

Plans are sketchy on the new building because of what may replace penn tower. Penn is in negotiations with Pen dot and Chop as a request to move the street dividing Penn Tower property and the Performance building, with plans for a new wing of the hospital. Trauma leaves HUP and heads to Presby in Feb. Look for Penn to do what Jefferson has promised in opening outpatient clinics. Those type of procedures now account for 50% of revenue.

Apparently there are quite a few utilities under the road between Perelman and Penn Tower, so there would be a fair expense in moving the utilities. The model shows them leaving the street so that seems to be the way they were leaning but that could change I suppose.

Outpatient surgeries are profitable considering their low cost, but I've been told my the C-level folks at Penn that they do NOT pay the bills. It's the Inpatient acute care stays that pay for the supporting staff, buildings, and so on. Even with that I've been told that HUP operates on a 2-3% profit margin which isn't that high and with Medicare always looking to cut payments, it's always a challenge to keep things positive. One example is the CMS "2 Midnight Rule", if a patient stays 2 midnights (which could be weeks or just 25 hours depending on the time of day), the lead physician ("Attending") must sign for the admission as an inpatient and must then attest that the patient needs that level of care for day 0, day 12, day 30, and every additional day 30. IF he/she doesn't do that by the time the patient is discharged, Medicare can refuse the ENTIRE bill no matter how much it is for. It's basically a technicality that can give auditors (who get a percentage commission of money denied LOL) an easier way to decline the stay/bill. So outpatient stuff has its advantages and can more than pay for their staff and the O/R's themselves but not the rest of us overhead. :^)

Cheers,
G.

[1487]

Originally Posted by summersm343

Groundbreaking for East Market Development set for Thursday!

http://www.bizjournals.com/philadelphia/...und-breaking-of-east-market-set-for.html

Nice. I guess they arent going to bother with a ceremony for the comcast building. Wake me up when there is a W hotel groundbreaking ceremony.

[1487]

Radian is actually growing- thats good news for a CC firm. I dont like that they are looking inside and outside the city for options. Maybe they will upgrade to a trophy building since prices are reasonable. FMC will be vacating its current location in 2 years or so.

http://www.bizjournals.com/philadelphia/...nts-looking-at-space-in-center-city.html

[Flyers2001]

Originally Posted by GarCastle

Apparently there are quite a few utilities under the road between Perelman and Penn Tower, so there would be a fair expense in moving the utilities. The model shows them leaving the street so that seems to be the way they were leaning but that could change I suppose.

Outpatient surgeries are profitable considering their low cost, but I've been told my the C-level folks at Penn that they do NOT pay the bills. It's the Inpatient acute care stays that pay for the supporting staff, buildings, and so on. Even with that I've been told that HUP operates on a 2-3% profit margin which isn't that high and with Medicare always looking to cut payments, it's always a challenge to keep things positive. One example is the CMS "2 Midnight Rule", if a patient stays 2 midnights (which could be weeks or just 25 hours depending on the time of day), the lead physician ("Attending") must sign for the admission as an inpatient and must then attest that the patient needs that level of care for day 0, day 12, day 30, and every additional day 30. IF he/she doesn't do that by the time the patient is discharged, Medicare can refuse the ENTIRE bill no matter how much it is for. It's basically a technicality that can give auditors (who get a percentage commission of money denied LOL) an easier way to decline the stay/bill. So outpatient stuff has its advantages and can more than pay for their staff and the O/R's themselves but not the rest of us overhead. :^)

Cheers,
G.

I don't know where they get their info, but I read that out patient care accounts for close to 50% of their revenue. its a drastic increase and one they will continue to explore and take advantage of. its why they are so excited about 3737. I will paraphrase the article which ran in HUPs monthly update tomorrow when I go into work.

not disagreeing with what pays what, but Penn Medicine will continue to value and expand their outpatient treatment centers based on the revenue increase.

[Outta here]

[QUOTE=josef;6748962]I love that the guy's super active buildings things in Philly. And I love the SLS, I can't wait to watch that go up. I just wish he wouldn't stand by for 10 years sitting on development rights letting one of the only remaining historic RCA buildings in Camden get so bad it's basically been condemned.



" WAIT A MINUTE " ......... I must admit , " I know nutting " about development or infrastructure in Camden but , to my limited knowledge ,
there were , or are ,TWO buildings left over from a six or seven building complex that was the home of RCA of America . I haven't been in Camden for years and don't know if you are talking about the Delaware Ave. building
which has a small tower with the dog logo , or a seven / eight story brick
building located behind the " logo tower " .
If you are saying the main building with the tower is going to come down ...... shame on Camden .
Architecture like that will never be constructed anywhere , ever , again .

[Jawnadelphia]

^^^ I haven't been over to Camden in 5 yrs - but the article is right - those signs on the building - "New Condos Coming Soon" - ...have been there for a looong time.