PHILADELPHIA | Highrise Development Thread IX

[boxbot]

Originally Posted by McBane

"pivotal knuckle"

Please. This is a family site.

[summersm343]

Originally Posted by McBane

Developers ask Penna. for $1 billion+

Never heard of this one...


Lots of other tid bits, both known and previously unheard of.

Dude, great find! There is a lot of really great info in here:

Philadelphia: 66 requests, including:
- $31.5 million to help Pennsylvania Real Estate Investment Trust (PREIT) turn the aging Gallery at Market East shopping mall into "a vibrant, modern marketplace" and "an open and exciting retail, dining and entertainment destination."
- $20 million for SLS International Hotel & Residences' planned "mixed-use" high-end hotel and residences at Broad and Spruce.
- $15 million to Broad Street Holdings LP to build a supermarket, two parking levels, "two residential towers, and 27 residential rowhomes" at 1300 Fairmount Ave., which the state calls a "pivotal knuckle" of North Broad St., and New York developer RAL Companies says is "at the tipping point" for the 860,000 sf development.
- $10 million for AgustaWestland Philadelphia Corp., the Northeast Philadelphia helicopter maker owned by Italy's Finmeccanica, to add 200,000 sf to the 270,000 sf factory for "expanded aircraft production, onsite customer support and a state-of-the-art training academy" plus new machinery.
- $8.5 million for National Real Estate Advisers of Washington and its Philly partners to update the old department store distribution center at East Market (1100 block between Market and Chestnut) into 161,000 sf of upstairs warehouse and 25,000 sf of retail, including a 16,000 sf Mom's Organic Market.
- $6.4 million for Thomas A. Leonard and partners' 3.0 University Place, 150,000 sf of offices plus 30,000 sf of first-floor stores in University City.
- $6 million to move and fix up the USS Olympia (Admiral Dewey's flagship in the Philippines was in which the U.S. took over Spain's colonial empire).
- $5 million for developer Bart Blatstein's Tower Entertainment to redevelop the old Inquirer Building, 400 N. Broad St., into a 125-room hotel (25 to be suites), a 4,000 sf restaurant, 9,000 sf of meeting space.
- $5 million for Blatstein's Tower Investments and caterer Joseph Volpe's Cescaphe Event Group to redevelop PECO's 16.4-acre former Delaware Generating Station at 1324 N. Beach St.
- $5 million for the Delaware River Waterfront Corp. to build new Spring Garden and Festival piers
- $5 million for Solo RI LP to redevelop 3701 Island Ave. as a $22.9 million Gateway Marriott hotel near the airport.
- $5 million for Mt. Airy USA's Germantown Ave. Redevelopment Initiative to fix up the old Sedgwick Theater and other real estate in the 6300-6700 and 7100-7200 blocks of Germantown Ave.
- $4.5 million for Wexford Science & Technology LLP to start replacing the former University City High School with a new Drexel lab complex, housing, and stores
- $4 million for Philadelphia Chinatown Development Corp.'s $76 milion Chinatown Community Center project: stores, offices, meeting space, and 150 housing units.
- $3.5 million for the University of Pennsylvania's "Pennovation Center" at the former DuPont works on Grays Ferry Ave.
- $2 million for FMC Corp. to do "tenant improvements" at its new headquarters in the 49-story FMC Corp. tower, 2930 Walnut St., University City.
-- And many more.
Read more at http://www.philly.com/philly/blogs/inq-p...te-for-millions.html#iAW37uRSEXYLM1PY.99

[summersm343]

New thread for 1300 Fairmount



http://forum.skyscraperpage.com/showthread.php?p=6999800#post6999800

[1487]

Originally Posted by summersm343

New thread for 1300 Fairmount



http://forum.skyscraperpage.com/showthread.php?p=6999800#post6999800

would this be adjacent to the Divine Lorraine?

[AbortedWalrus]

Originally Posted by 1487

would this be adjacent to the Divine Lorraine?

Behind it. The gray box on the edge of that render is the DL.

[Outta here]

Originally Posted by BenKatzPhillytoParis

I doubt whatever is built here is going to be taller than CITC. I think this is going to be the transitional block stepping down from CITC to Logan Square. Not sure what this is zoned for currently, or to what extent the zoning mirrors the LSNA convenant, but pretty sure they are similar.

My guess would be one 500-800 ft tower on the East side of the block and perhaps a 200-400 ft tower further West on the block. Would be a nice step-up to the office core. Eliminating this completely dead block that is so disruptive to the continuity of the city between Logan Square and Rittenhouse is really the most exciting for me.

Ummmm , lets pretend I know something . ONE tower , not two . Maximum height 775' , but not until
CITC is complete . 2018 ??

[boxbot]

Originally Posted by Outta here

Ummmm , lets pretend I know something .

That would be contrary to your Avatar's MO, wouldn't it?

In all sincerity, I don't think the brass at Comcast knows exactly what they want to do with this site yet. If you have that kind of detail, you must have friends in very high places.

[summersm343]

Finally. Tax reform could create 100,000 new jobs in Philadelphia, group says

Philadelphia has been losing jobs for decades, but leaders in business, labor and civic organizations are looking to change that by 2025.

The Philadelphia Jobs Growth Coalition on Wednesday launched a campaign that looks to reform the city’s tax code in order to stimulate job growth and create up to 100,000 new jobs in Philadelphia.

Under the proposal, business and commercial property owners would pay more in real estate taxes to make the city more competitive by reducing the wage tax rate below 3 percent and cutting the net income portion of the Business Income and Receipts Tax (BIRT) in half over a 10-year period.

BIRT is based on gross receipts and net income.

This proposal would create between 50,000 to 100,000 new jobs during that timeframe. The tax cuts would be paid for by a 15 percent increase in the commercial property tax rate. Homeowners’ property taxes would be unaffected.

“We still have not mastered the art of creating jobs on a consistent basis,” said Jerry Sweeney, president and CEO of Brandywine Realty Trust. “One of the major detriments to Philadelphia is our tax structure, [which is] a gating issue to bringing jobs into downtown Philadelphia and in the neighborhoods.”

The city taxes the wrong things, and there’s a huge cost differential between businesses doing work in the suburbs or the tri-state area vs. downtown Philadelphia, Sweeney said.

“The wage tax is one of the highest in the country and the BIRT positions Philadelphia as one of the highest-paying cities in the country for businesses,” Sweeney said, placing the city at a tremendous competitive disadvantage.

http://www.bizjournals.com/philadelphia/...rm-could-create-100-000-new-jobs-in.html

[1487]

Originally Posted by summersm343

Finally. Tax reform could create 100,000 new jobs in Philadelphia, group says



http://www.bizjournals.com/philadelphia/...rm-could-create-100-000-new-jobs-in.html

lots of talk about this system but it all depends on Harrisburg as well as a multi year process to amend the constitution. I havent heard anyone who's in a position to push something like this through show any support. If this truly is the panacea that people claim it to be we better hope legislators in HB see a benefit for areas outside of Philly. Otherwise I see little interest in such a heavy lift.

[MikeNigh]

They should also switch it so the income tax is lower if you live in the city vs the suburbs to promote living in the city.

[Mappy]

Originally Posted by MikeNigh

They should also switch it so the income tax is lower if you live in the city vs the suburbs to promote living in the city.

Yes!
Density Consolidation...

I would love to promote a property tax deduction scaled to public transit access to employment. Like illustrated by this mapbox project:



This would promote people to move to transit access areas because it would be cheaper, and/or demand transit be built to their area, and/or consolidate jobs near population and transit centers.

I would then complement this with a development credit zone system (like farmland preservation), that is on a scale from -3 to +3 development units, and laid out to make it profitable to demolish structures near streams, wetlands, and farmlands, and more incentivized to build density in town centers and TOD areas.

Here is an example of what the high and low credit areas might be in South Jersey. (a work in progress):



... This is what I hope top accomplish in my life time.

[allovertown]

Originally Posted by Mappy

Yes!
Density Consolidation...

I would love to promote a property tax deduction scaled to public transit access to employment. Like illustrated by this mapbox project:


This would promote people to move to transit access areas because it would be cheaper, and/or demand transit be built to their area, and/or consolidate jobs near population and transit centers.

I would then complement this with a development credit zone system (like farmland preservation), that is on a scale from -3 to +3 development units, and laid out to make it profitable to demolish structures near streams, wetlands, and farmlands, and more incentivized to build density in town centers and TOD areas.

Here is an example of what the high and low credit areas might be in South Jersey. (a work in progress):


... This is what I hope top accomplish in my life time.

Mappy, you always have the best ideas. I really hope you're able to implement at least some of them in your lifetime, the city would be a better place.

I too always found it odd that people who commute into the city pay a lower wage tax than those who live inside of it. It's a truly bizarre way to incentivize city employees to live outside of Philadelphia. In fact due to the reciprocal tax agreement between New Jersey and Pennsylvania, NJ residents in Philadelphia effectively don't have to pay a wage tax. I'm not exactly a tax policy wonk, but any policy that actively works to push your employees to live in a neighboring state is bad policy.

[Kidphilly]

Mappy Very cool

On the first map, is that the number of people within 30 minutes walking or transit or number of Jobs?

Also is there an external link for the map

speaks to the need for a Navy yard extension and to me Blvd and HR extensions of the CH West and Norristown (extended to KOP) HR line

My own dab-lings (including use of a lot of current ROW and station in the new Innovation and rail yard. Oh one can dream


https://www.google.com/maps/d/edit?mid=zNG4WyRIq_Oo.k1JXjX9gyItI

[GarCastle]

Originally Posted by allovertown

Mappy, you always have the best ideas. I really hope you're able to implement at least some of them in your lifetime, the city would be a better place.

I too always found it odd that people who commute into the city pay a lower wage tax than those who live inside of it. It's a truly bizarre way to incentivize city employees to live outside of Philadelphia. In fact due to the reciprocal tax agreement between New Jersey and Pennsylvania, NJ residents in Philadelphia effectively don't have to pay a wage tax. I'm not exactly a tax policy wonk, but any policy that actively works to push your employees to live in a neighboring state is bad policy.

There is also a lower tax deduction for mass transit than for parking. /boggle. So it encourages people to clog up highways in rush hour LOL.

Cheers,
G.

[TempleGuy1000]

http://www.bizjournals.com/philadelphia/...k-for-convention-center-labor-board.html

Interested to hear all of your thoughts on this matter?

[allovertown]

Originally Posted by GarCastle

There is also a lower tax deduction for mass transit than for parking. /boggle. So it encourages people to clog up highways in rush hour LOL.

Cheers,
G.

The mind reels.

[hammersklavier]

Originally Posted by TempleGuy1000

http://www.bizjournals.com/philadelphia/...k-for-convention-center-labor-board.html

Interested to hear all of your thoughts on this matter?

Everybody (other than Coryell's goons) can smell the steaming turd that is the Carpenters' claim from a hundred miles away ... I mean, the Biz Journal is saying that this reversal "surprises experts". That's media-talk for "WHAT THE FLYING FUCK THIS MAKES NO SENSE WHATSOEVER" ...

[1487]

This is interesting. Few seem to be really willing to delve into the numbers and explore the storyline about the city bleeding jobs to the suburbs. Im sure it was true in the 70s through the 90s. Not sure if its really true today. While pro job tax reform cant hurt, the reality is job growth and office space growth in this entire region is anemic- its not a Philly specific problem even though the story isnt presented that way.

http://planphilly.com/articles/2015/04/2...ower-in-philly-s-center-than-the-suburbs

[Teakwood]

Originally Posted by Mappy

This would promote people to move to transit access areas because it would be cheaper, and/or demand transit be built to their area, and/or consolidate jobs near population and transit centers.

I love the idea of promoting transit areas, but I'm not sure this would necessarily have a fully beneficial effect if put into practice. It seems like many of the areas close to transit are or are close to fully gentrified, and rather expensive, notably in the small towns near rail lines outside of the city. By decreasing taxes in these already expensive areas and raising taxes in the often depressed areas, the net effect would seem to be increased property values for the rich, and decreased property values for the now higher taxed poorer. This may price many out of areas with access to transit, resulting in an additional hardship for those who may not be able to afford transportation.

[UrbanRevival]

Another positive tech-related development for the city in terms of the growing trend of satellite/regional offices in Center City. It's a Boston-area company with other offices only in NY and SF--a positive sign that Philly warrants its own regional office.

Coretelligent Opens New Philadelphia Office to Meet Growing Demand for IT Support and Private Cloud Services

Needham, MA, April 23, 2015 – Coretelligent, the IT support and private cloud service provider of choice for small and mid-sized businesses, today announced the opening of a new office in Philadelphia. The new Philadelphia office is dedicated to supporting customers in the region.

“Demand for Coretelligent’s IT support and cloud services continues to grow at a steady pace, and the establishment of a Philadelphia office enables us to meet needs in the region,” said Kevin Routhier, Coretelligent founder and CEO. “It’s an exciting time in the company’s history, and a highly strategic step forward in our measured approach to growth.”

Coretelligent now operates four nationwide office locations in Boston, New York City, Philadelphia and the San Francisco Bay area. With a strong commitment to ensuring quality of service, Coretelligent has always invested in the appropriate tools and resources ahead of business expansion.

The new Philadelphia office is located at 1650 Market Street.

http://www.businesswire.com/news/home/20...-Office-Meet-Growing-Demand#.VTkHLCFVhHw

http://coretelligent.com/news/news/coret...-office-to-meet-growing-demand-for-it-s/