Quote:
Originally Posted by Cro Burnham
2400: What I don't get is this: with the riverwalk bustling, and the whole Penn/Center City nexus fusing, 2400 is a prime node. Instead of using that lot in front for cars, why not build a restaurant/retail pad with a river vista to capture the growing pedestrian/biking traffic going north/south and along Chestnut Street? They'd sacrifice maybe twenty parking spots for some very lucrative commercial space, plus increase the appeal of the base of their building; besides, they have a below grade garage under the building. That surface lot seems to me to be a total missed opportunity and misallocation of prime real estate.
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You know, I walked by that building the other day and was thinking the same thing. Total wasted opportunity along Chestnut, especially now. Then I realized that the garage's only entrance is from Chestnut. So you'd have to make a new entrance to the garage (i.e. from 24th). Which would probably require a thorough new renovation of at least the lobby levels and lower. Wasn't the building last renovated a little less than a decade ago?
ETA: I'm pretty sure the loading dock faces 24th Street. That would mean that a new parking entrance could feasibly be made one of two ways:
1. Wipe some (revenue-earning) ground-floor office space. Their willingness to do that would probably be a function of how occupied that space is, and how much more they can get from commercial space facing Chestnut. In other words: not very high. (Unless they landed like a big box tenant or something.)
2. Get an shared easement with the owner of the parking lot next door. The basic idea is that one would enter the garage from that lot, and that the parking structure doubtless required for any redevelopment of that parcel (wasn't the last proposal on it a Richard Meyer building?) would be required to share an entrance with 2400 Chestnut's. Easement law
does exist (it was largely developed to construct canals and, later, railroads), so this isn't such a farfectched idea from a purely legal perspective. But I don't think I've ever seen multiple developments share a garage entrance.
And a third option: Liquidate the parking spaces. (For what?)