PHILADELPHIA | Highrise Development Thread IX - Page 276

PhiLaw · #**5501** Posted **Nov 11, 2014, 3:20 PM**

Get ready for IPO news from one of our city's companies. Big influx of capital coming.

Kidphilly · #**5502** Posted **Nov 11, 2014, 3:35 PM**

Quote:

Originally Posted by PhiLaw

Get ready for IPO news from one of our city's companies. Big influx of capital coming.

Aramark?

ScottinPhilly · #**5503** Posted **Nov 11, 2014, 4:04 PM**

^^ Aramark would have been my guess too, but I see that they went public in December. I totally missed that!

Now, I'm stumped on who it could be.

summersm343 · #**5504** Posted **Nov 11, 2014, 4:14 PM**

Quote:

Originally Posted by cafeguy

In your opinion, how tall would 800 units be? I know its a big land mass, but would this really be of any significant height? Southstar is 85 units, if you double the floor space with 6 stories of apartments, that might suggest that Blatstein's proposal would be 30 stories tall on top of the 1/2 larger retail stories and not including the roof top mecca he dreams about...bringing it to over 300 feet? I'd love to see it, but would zoning allow that?

I'm guessing 30 floors, since past articles about the project. We'll see though.

summersm343 · #**5505** Posted **Nov 11, 2014, 4:20 PM**

22nd and Walnut lot - Walnut Estates.

Not as bad as I thought. I'm glad the 5 floor condo building with ground floor retail faces Walnut. Looks like a nice modern design.

It was granted approval by the ZBA. Renderings in the article below.

http://www.phillyliving.com/blog/zba-grants-variance-to-walnut-estates-tower.html

ILovePhilly · #**5506** Posted **Nov 11, 2014, 4:34 PM**

Quote:

Originally Posted by summersm343

22nd and Walnut lot - Walnut Estates.

Not as bad as I thought. I'm glad the 5 floor condo building with ground floor retail faces Walnut. Looks like a nice modern design.

It was granted approval by the ZBA. Renderings in the article below.

http://www.phillyliving.com/blog/zba-grants-variance-to-walnut-estates-tower.html

Not bad. How did I miss the neighborhood meeting for this? Not enough parking in the neighborhood my tookus. I'm glad they approved it anyway! Still would have loved 10 stories, though.

Jawnadelphia · #**5507** Posted **Nov 11, 2014, 4:35 PM**

Quote:

Originally Posted by summersm343

22nd and Walnut lot - Walnut Estates.

Not as bad as I thought. I'm glad the 5 floor condo building with ground floor retail faces Walnut. Looks like a nice modern design.

It was granted approval by the ZBA. Renderings in the article below.

http://www.phillyliving.com/blog/zba-grants-variance-to-walnut-estates-tower.html

Cool, I like.

So when will you be allowed to break news about the Rite Aid lot ???
You've hinted a few times at something... just curious.

PhiLaw · #**5508** Posted **Nov 11, 2014, 4:48 PM**

IPO:

http://news.investors.com/111014-725728-...ek.htm?ven=yahoocp&src=aurlled&ven=yahoo

summersm343 · #**5509** Posted **Nov 11, 2014, 4:54 PM**

Quote:

Originally Posted by TallCoolOne

Cool, I like.

So when will you be allowed to break news about the Rite Aid lot ???
You've hinted a few times at something... just curious.

It will be announced in 2015. I don't have much details. Expect a project similar to 2116 Chestnut.

summersm343 · #**5510** Posted **Nov 11, 2014, 4:55 PM**

Quote:

Originally Posted by PhiLaw

IPO:

http://news.investors.com/111014-725728-...ek.htm?ven=yahoocp&src=aurlled&ven=yahoo

So what does this mean for Axalta now?

summersm343 · #**5511** Posted **Nov 11, 2014, 4:56 PM**

Article on Blatstein's Broad & Washington. Just speculation and pulling together what Blatstein has said about the project. The presentation will be November 17th

http://www.passyunkpost.com/2014/11/10/b...or-mega-project-at-broad-and-washington/

summersm343 · #**5512** Posted **Nov 11, 2014, 5:08 PM**

Lockheed Martin and other companies to Camden

Quote:

Lockheed Martin has received $107 million in tax credits from the New Jersey Economic Development Authority to operate a facility to Camden, N.J., according to the Philadelphia Inquirer. Here's more:

The company will create laboratory facilities in two downtown buildings and move about 250 jobs from the company's headquarters in Moorestown, according to the EDA. The company also has a laboratory in Cherry Hill.

The company told the EDA that some of the jobs that will go to Camden are in danger of being eliminated due to increased competition in the defense industry, and that the subsidy will help save them. The facility will open next year, company spokesman Keith Little said.

Diogenix Inc., a molecular diagnostics company, is moving a small laboratory from Maryland to the Camden "in order to expand and transform it into a federally-compliant and accredited facility," says an NJ EDA statement. The Inquirer says it's a done deal, with Diogenix being awarded $7.45 million over 10 years.

Camden is seeing an influx of state money driving new development. The Philadelphia 76ers announced plans to build a corporate headquarters and practice facility on the waterfront after receiving an $82 million state grant. They plan to make it a campus atmosphere, and the project should be finished in the summer of 2016.

Holtec International announced that its building a new manufacturing facility in Camden after receiving $260 million in state tax credits. Company officials say it will bring up to 3,000 jobs to the region over the next five years.

http://www.bizjournals.com/philadelphia/.../lockheed-martin-107-million-camden.html

Philly Fan · #**5513** Posted **Nov 11, 2014, 5:10 PM**

Quote:

Originally Posted by ILovePhilly

Not bad. How did I miss the neighborhood meeting for this? Not enough parking in the neighborhood my tookus. I'm glad they approved it anyway! Still would have loved 10 stories, though.

But what about the WIND TUNNEL STUDIES?????

Dammit! I'm getting sick and tired of all the wind that these new 5-story towers are creating in Center City!

Philly Fan · #**5514** Posted **Nov 11, 2014, 5:13 PM**

Quote:

Originally Posted by PhiLaw

IPO:

http://news.investors.com/111014-725728-...ek.htm?ven=yahoocp&src=aurlled&ven=yahoo

Aaaaaaah, and I bet you've even learned how to spell "Axalta" now.

PhiLaw · #**5515** Posted **Nov 11, 2014, 6:51 PM**

Quote:

Originally Posted by Philly Fan

Aaaaaaah, and I bet you've even learned how to spell "Axalta" now.

YES!

As to Summers, I cannot say just yet but keep an ear open.

summersm343 · #**5516** Posted **Nov 11, 2014, 7:58 PM**

Axalta to build 200,000 sq foot manufacturing facility in the Navy Yard - create jobs for the city

Quote:

At the same time Axalta Coating Systems Ltd. is seeking an initial public offering, it has also begun a process to eventually construct what would be a 200,000-square-foot manufacturing facility at the Philadelphia Navy Yard, according to sources familiar with the situation.

http://www.bizjournals.com/philadelphia/...ting-systems-seeks-to-construct-big.html

DIESELPOLO · #**5517** Posted **Nov 11, 2014, 8:35 PM**

Quote:

Originally Posted by summersm343

Lockheed Martin and other companies to Camden

http://www.bizjournals.com/philadelphia/.../lockheed-martin-107-million-camden.html

Is Camden New Jersey just buying jobs at this point?

I don't know what to think of the macro-level impact of just moving jobs to-and-fro. I get that Camden is in such dire conditions that subsidies like these are instrumental in getting companies to even consider it as a location, but is this just what a race to the bottom looks like?

Although, if "buying" these jobs with subsidies has proven effective in other metro regions, I imagine the fate of the Philly-Camden connection could be on the up-and-up.

Not to mention that bonkers Campbell's Soup World HQ Disney World rendered the other week...

PhiLaw · #**5518** Posted **Nov 11, 2014, 8:53 PM**

Quote:

Originally Posted by summersm343

Axalta to build 200,000 sq foot manufacturing facility in the Navy Yard - create jobs for the city

http://www.bizjournals.com/philadelphia/...ting-systems-seeks-to-construct-big.html

I didn't want to be the first to post it publicly. But it will be even more significant than the article implies. I'm glad I can talk about this now - I've been keeping my mouth shut since the beginning of summer!

Londonee · #**5519** Posted **Nov 11, 2014, 8:59 PM**

Quote:

Originally Posted by DIESELPOLO

Is Camden New Jersey just buying jobs at this point?

I don't know what to think of the macro-level impact of just moving jobs to-and-fro. I get that Camden is in such dire conditions that subsidies like these are instrumental in getting companies to even consider it as a location, but is this just what a race to the bottom looks like?

Although, if "buying" these jobs with subsidies has proven effective in other metro regions, I imagine the fate of the Philly-Camden connection could be on the up-and-up.

Not to mention that bonkers Campbell's Soup World HQ Disney World rendered the other week...

Yeah, $100million for 200+ jobs is nuts. Whoever is employed in these research roles better be curing cancer or solving war to justify that crazy public investment.

jsbrook · #**5520** Posted **Nov 11, 2014, 11:48 PM**

Quote:

Originally Posted by Londonee

Yeah, $100million for 200+ jobs is nuts. Whoever is employed in these research roles better be curing cancer or solving war to justify that crazy public investment.

With this approach to development, 'revitalizing' Camden is going to bankrupt New Jersey. There are incentives (part of the world in which we live0 and then there's...what they are doing.