PHILADELPHIA | Highrise Development Thread IX

[jn00]

Originally Posted by jsbrook

I guess this is why there's been no progress so far on the Boyd construction...

I find PBJ reporting to be frequently inaccurate, so wouldn't be surprised if they said iPIC is still coming in without any actual confirmation.

[br323206]

Oops, double post.

[Londonee]

Originally Posted by jn00

I find PBJ reporting to be frequently inaccurate, so wouldn't be surprised if they said iPIC is still coming in without any actual confirmation.

It seems to make sense. iPic had all their ducks in a row: approvals and due to their success and size, presumably financing. To delay construction or any sort of press release this long without explanation--was a bit baffling. This seems to clear everything up. Sales of this magnitude and complexity (historic property) take a long time to sort out--so they've been sitting in limbo. Hopefully now that the i's are dotted, this thing can get rolling.

Any recent word on their development next door?

[PhiLaw]

Originally Posted by br323206

This is absolutely correct. The lower WPR is mostly due to people retiring and there being less young people to replace them.

With all due respect, you are absolutely incorrect. The millennial generation is the largest generation we've ever had in American history. Retired baby boomers accounts for about a quarter of the decrease in the WPR - the bulk of it is people dropping out of the workforce because (a) they cannot find a job, so they are either staying in school or on the couch, or (b) disincentives in labor and health policies. Also note the exponential rise in workers on disability, which parallels the declining WPR. Even the Administration acknowledges the WPR is an issue.

If you look at the numbers (and I can get you sources), the WPR is lower in all age cohorts - teens, millennial, Gen-Xers and beyond. In fact, the teen WPR is lower than its ever been in American History. Older workers are now competing with them for jobs. This is precisely the reason why the Fed remains leery of reversing the QE's too quickly.

[allovertown]

Originally Posted by PhiLaw

With all due respect, you are absolutely incorrect. The millennial generation is the largest generation we've ever had in American history. Retired baby boomers accounts for about a quarter of the decrease in the WPR - the bulk of it is people dropping out of the workforce because (a) they cannot find a job, so they are either staying in school or on the couch, or (b) disincentives in labor and health policies. Also note the exponential rise in workers on disability, which parallels the declining WPR. Even the Administration acknowledges the WPR is an issue.

If you look at the numbers (and I can get you sources), the WPR is lower in all age cohorts - teens, millennial, Gen-Xers and beyond. In fact, the teen WPR is lower than its ever been in American History. Older workers are now competing with them for jobs. This is precisely the reason why the Fed remains leery of reversing the QE's too quickly.

With all due respect, none of what you said changes the fact that there are more people over 65 in this country than there has ever been before and they make up a larger percentage of the population than they ever have before.

You're right that some people are dropping out of the labor market because they can't find a job and that the unemployment rate does not tell the full story. But to say that the WPR gives a better measure of employment in this country than the unemployment is just false and the lower WPR is still primarily due to retirees not 20 y/o giving up and sleeping on someone's couch.

[skyscraper]

Originally Posted by PhiLaw

With all due respect, you are absolutely incorrect. The millennial generation is the largest generation we've ever had in American history. Retired baby boomers accounts for about a quarter of the decrease in the WPR - the bulk of it is people dropping out of the workforce because (a) they cannot find a job, so they are either staying in school or on the couch, or (b) disincentives in labor and health policies. Also note the exponential rise in workers on disability, which parallels the declining WPR. Even the Administration acknowledges the WPR is an issue.

If you look at the numbers (and I can get you sources), the WPR is lower in all age cohorts - teens, millennial, Gen-Xers and beyond. In fact, the teen WPR is lower than its ever been in American History. Older workers are now competing with them for jobs. This is precisely the reason why the Fed remains leery of reversing the QE's too quickly.

Thanks, PhiLaw. You beat me in responding to this. Here is the Philly Fed's report on this. It concludes that while in the last 2 years or so the lower WPR is in large part due to retirees, all workforce subsections are down for many reasons, such as disincentive to work, disability, return to school, and lack of economic opportunity. http://philadelphiafed.org/research-and-...n-the-labor-force-participation-rate.pdf

[PhiLaw]

Demolition at East Market is underway:

http://philly.curbed.com/archives/2014/1...emolition-at-east-market-is-underway.php

[PhiLaw]

Seven bridges over the Vine St. Expressway to be replaced by 2019:

http://www.philly.com/philly/news/breaki...ne_Street_Expressway_to_be_replaced.html

Hope these are built in anticipation of a potential highway obfuscation project in the future.

[domodeez]

Originally Posted by PhiLaw

Seven bridges over the Vine St. Expressway to be replaced by 2019:

http://www.philly.com/philly/news/breaki...ne_Street_Expressway_to_be_replaced.html

Hope these are built in anticipation of a potential highway obfuscation project in the future.

Sadly not. With the exception of the westernmost gap in Logan Square - that will be capped as part of this. The other three gaps in Logan Square will remain, as will the enormous gaps stretching east to 10th St.

[jsbrook]

Originally Posted by allovertown

With all due respect, none of what you said changes the fact that there are more people over 65 in this country than there has ever been before and they make up a larger percentage of the population than they ever have before.

You're right that some people are dropping out of the labor market because they can't find a job and that the unemployment rate does not tell the full story. But to say that the WPR gives a better measure of employment in this country than the unemployment is just false and the lower WPR is still primarily due to retirees not 20 y/o giving up and sleeping on someone's couch.

Well, the unemployment rate is certainly inaccurate and fails to account for people who are so disillusioned that they have ceased any attempt to find a job. And there are plenty. But the WPR still suffers from the flaws you identify. To really get an accurate assessment, they should calculate a workforce participant rate but exclude those of retirement age and older. From both the numerator and the denominator. Yes, there are people of retirement age who would still work but can't find jobs. But the numbers that fall into that category are so comparably small that it would give a much more accurate assessment of the health of the labor market to just exclude seniors entirely. Well above 62 odd percent of the U.S. population under 65 is working. Which is the WPR counting seniors.

[3rd&Brown]

Originally Posted by PhiLaw

She's 73 - and agism never serves anyone well. She's also pro-development, anti-Clark and will ruffle many a feather within the democratic machine here in Philly. She's also tough on crime. Not the best candidate of course, but like I said, considering out options she's got my vote for the time being.

Tough on Crime? Just because she sounds like a bully does it mean she was good at her job. She was a terrible DA. Crime has decreased substantially since she left, the rate at which murders are solved has increased, and other good programs have been improved in her absence...including more money for witness protection, alliances with the FBI, etc.

She also VOCALLY opposed the de criminalization of marijuana...which has already drastically reduced arrests and in theory, given police time to focus on more pressing issues.

I don't care that she is 73. I care that she has outdated and old school positions on important issues that have been proven to be ineffectual and incorrect.

But yes, old angry white people in Philadelphia will vote for her because she's "Tough on Crime". Mmmkay.

[allovertown]

Originally Posted by 3rd&Brown

Tough on Crime? Just because she sounds like a bully does it mean she was good at her job. She was a terrible DA. Crime has decreased substantially since she left, the rate at which murders are solved has increased, and other good programs have been improved in her absence...including more money for witness protection, alliances with the FBI, etc.

She also VOCALLY opposed the de criminalization of marijuana...which has already drastically reduced arrests and in theory, given police time to focus on more pressing issues.

I don't care that she is 73. I care that she has outdated and old school positions on important issues that have been proven to be ineffectual and incorrect.

But yes, old angry white people in Philadelphia will vote for her because she's "Tough on Crime". Mmmkay.

Totally agree. Philadelphia is at a crossroads. We need to look forward and not backward to some old dinosaur who cut her teeth in the Frank Rizzo administration.

I don't have a problem with her being old. I have problem with her old and outdated views. That's not agism as old people are capable of holding forward thinking viewpoints and young people are capable of possessing attitudes that harken back to eras that existed before they were even born.

[BenKatzPhillytoParis]

Originally Posted by allovertown

Totally agree. Philadelphia is at a crossroads. We need to look forward and not backward to some old dinosaur who cut her teeth in the Frank Rizzo administration.

I don't have a problem with her being old. I have problem with her old and outdated views. That's not agism as old people are capable of holding forward thinking viewpoints and young people are capable of possessing attitudes that harken back to eras that existed before they were even born.

Ya really. She is a horrible candidate. Seth Williams is a much better DA with actual innovation that has had results rather than just talk.

Terry Gillen and Ken Trujillo are the thinking person's candidates hands down. I only hope they don't split that vote and end up handing it to one of the others.

[EastSideHBG]

The transformation of the Gallery is beginning...

No holiday cheer at the Gallery

http://www.philly.com/philly/business/homepage/20141214_No_holiday_cheer_at_the_Gallery.html

[summersm343]

Originally Posted by EastSideHBG

The transformation of the Gallery is beginning...

No holiday cheer at the Gallery

http://www.philly.com/philly/business/homepage/20141214_No_holiday_cheer_at_the_Gallery.html

Gotta love Philly.com. They will put a negative spin on literally everything, even something as positive as a redevelopment of the Gallery Mall.

[philatonian]

Originally Posted by summersm343

Gotta love Philly.com. They will put a negative spin on literally everything, even something as positive as a redevelopment of the Gallery Mall.

Roger that. I do think it's a little ****y that the Gallery increased the rent for November and December, then decided not to decorate. I have to imagine some of the increased rent is to cover decorations and mall Santas.

Still, it's a good sign that they're about to make some changes.

[josef]

Speaking of possible mayors.

UIL chief 'disappointed' in failed PGW deal

http://www.philly.com/philly/business/20141214_UIL_chief__disappointed__in_failed_PGW_deal.html

The only important part:

Would UIL bid if the city tried another sale?

"That, we have no interest in," Torgerson said. "And to be frank, it's really colored our view as to being in Philadelphia right now."

[EastSideHBG]

Originally Posted by summersm343

Gotta love Philly.com. They will put a negative spin on literally everything, even something as positive as a redevelopment of the Gallery Mall.

Well, it is something negative for the people who payed extra money for essentially nothing and will be losing their spots for a year (and possibly forever). The redevelopment is good of course however, we should be at least a little mindful of how far the pendulum swings the other way and at what cost.

[summersm343]

Originally Posted by josef

Speaking of possible mayors.



The only important part:

Would UIL bid if the city tried another sale?

"That, we have no interest in," Torgerson said. "And to be frank, it's really colored our view as to being in Philadelphia right now."

This is just another perfect example of how terribly unfriendly Philadelphia is towards business.

The fact that a council member can put a stop to such a big transaction is a joke. Council members have ENTIRELY too much power, and honestly City Council should be disbanded, or their power should be significantly stripped.

[jsbrook]

Originally Posted by summersm343

This is just another perfect example of how terribly unfriendly Philadelphia is towards business.

The fact that a council member can put a stop to such a big transaction is a joke. Council members have ENTIRELY too much power, and honestly City Council should be disbanded, or their power should be significantly stripped.

Leave some cheer on Darrell Clarke's facebook page!

https://www.facebook.com/#!/CouncilmanDarrellLClarke

By cheer, I mean tell him what a scumbag he is. Here's a comment I wrote in response to a post about 'recommendations' City Council allegedly issues on PGW.

"You did not issue recommendations. You failed our city by inaction and failing to even allow the proposal to be fairly presented."

Not deleted yet.