PHILADELPHIA | Highrise Development Thread IX

[summersm343]

Originally Posted by lsksl

New building by Bjarke Ingels is coming to the Navy Yard

http://www.phillymag.com/property/2015/06/26/bjarke-ingels-navy-yard/

This is the same firm responsible for the new WTC 2 in New York.

". The gravity defying design of the building mimics the circular nature of the new park"

I hope it's something attractive and interesting. Even if it's not that attractive it's a great thing for the Navy Yard as it will probably catch some attention.

More from the Business Journal

New spec building set to break ground at Navy Yard/New Park opening

Liberty Property Trust is scheduled to break ground next week on a 94,000-square-foot speculative office building at the Philadelphia Navy Yard.

Liberty and its joint venture partner, Synterra Partners, are moving forward with the office project even though they have yet to secure any tenants.

The decision speaks to the overwhelming demand for office space at the Navy Yard. It also underscores how, in a short amount of time, the South Philly campus has become as one of Philadelphia’s most desirable office submarkets.

Liberty will unveil the design of the building and hold the ground breaking on Tuesday. At the same time, it will also officially open what is being called Central Green, a 5-acre park designed by James Corner Field Operations.

Park:


http://www.bizjournals.com/philadelphia/...rty-property-trust-navy-yard-bjarke.html

[summersm343]

New Conshohocken Office Buildings and more developments

I know a lot of you do not care about Conshy, but it certainly has the potential to be a nice satellite city. There is direct rail transit access to the office towers here which will certainly create more residential demand in Center City and Northwest Philadelphia.

http://www.bizjournals.com/philadelphia/...pital-conshohocken-lafayette-street.html

[summersm343]

American Water Works Co. narrows new site for HQ to two spots

This is a fortune 1000 company, and this would be huge for the Navy Yard or Camden. Would be 600+ employees plus growth potential.

Camden is the front-runner for the site of American Water Works Co.'s new headquarters, although the Navy Yard Corporate Center in South Philadelphia remains as an option for the move.

As long as American Water can find a parcel of Camden land in an ideal price range, it will build its new corporate headquarters there, said company CEO Susan Story.

American Water currently operates out of Voorhees, N.J., but the N.J. Economic Development Authority recently approved $164 million in tax credits for American Water (NYSE: AWK) if it moves to Camden.

"In all honesty, the tax credits make it more attractive to be in Camden," Story said.

The Navy Yard is the next option if Camden falls through.

If Camden wins out, the move would keep 600 jobs in New Jersey. Additional jobs would likely result from the company's growth potential, Story said.

"We see moving to the [Camden] city center as a great recruiting center," Story said. "We also see a bubble of people who've been working [for American Water] for a long time who are nearing retirement, so we'll have to replace them."

http://www.bizjournals.com/philadelphia/...ater-relocation-hq-camden-navy-yard.html

[Larry King]

The navy yard v camden bidding war is so good for the region

May it continue forever!

[hammersklavier]

Originally Posted by summersm343

New Conshohocken Office Buildings and more developments

I know a lot of you do not care about Conshy, but it certainly has the potential to be a nice satellite city. There is direct rail transit access to the office towers here which will certainly create more residential demand in Center City and Northwest Philadelphia.

http://www.bizjournals.com/philadelphia/...pital-conshohocken-lafayette-street.html

(1) That area is underdeveloped for being between Conshy and Norristown. But (2) unless there's an R6 stop integrated into the development it's only really gonna be auto-accessible.

Originally Posted by Larry King

The navy yard v camden bidding war is so good for the region

May it continue forever!

Eh it is at best a mixed bag. The Navy Yard is KOZ tax-exempt and Camden has already spent most of a billion dollars enticing jobs to the city with relatively marginal regional effect. (And, indeed, between the upfront subsidies and backend tax exemptions, each of these jobs end up costing quite a pretty public penny.)

Growing jobs from the bottom up is a better thing in the long term IMO.

[allovertown]

Originally Posted by hammersklavier

Eh it is at best a mixed bag. The Navy Yard is KOZ tax-exempt and Camden has already spent most of a billion dollars enticing jobs to the city with relatively marginal regional effect. (And, indeed, between the upfront subsidies and backend tax exemptions, each of these jobs end up costing quite a pretty public penny.)

Growing jobs from the bottom up is a better thing in the long term IMO.

That's a kind assessment. It's a totally destructive race to the bottom. I'm pretty sure larry king was being sarcastic

[summersm343]

313 Race Street - 7 floors



http://www.eimer-design.com/portfolio.as...-Street&c=Multi-Family-Apartment-Complex

[cafeguy]

Originally Posted by summersm343

313 Race Street - 7 floors



http://www.eimer-design.com/portfolio.as...-Street&c=Multi-Family-Apartment-Complex

ok ok...was this approved? Cause.... its 7 stories tall. In comparison to the 10 story tall building with a set back on arch which was not approved.... i mean, i just... ugh.

[jsbrook]

Originally Posted by lsksl

New building by Bjarke Ingels is coming to the Navy Yard

http://www.phillymag.com/property/2015/06/26/bjarke-ingels-navy-yard/

This is the same firm responsible for the new WTC 2 in New York.

". The gravity defying design of the building mimics the circular nature of the new park"

I hope it's something attractive and interesting. Even if it's not that attractive it's a great thing for the Navy Yard as it will probably catch some attention.

Not a fan of the new 2 WTC design, but this is still terrific news! Now let's see one in Center City.

[BCPhila]

Originally Posted by summersm343

313 Race Street - 7 floors



http://www.eimer-design.com/portfolio.as...-Street&c=Multi-Family-Apartment-Complex

This is a old rendering of this project from two years. The project is in the process of a redesign featuring a four story section in the front (south end) and a 12 story section in the back (north end). This project has not been through any approval process and is still in the early stage.

[Cro Burnham]

Originally Posted by BCPhila

This is a old rendering of this project from two years. The project is in the process of a redesign featuring a four story section in the front (south end) and a 12 story section in the back (north end). This project has not been through any approval process and is still in the early stage.

Interstingly, this is the same architect that designed Pearl's ugly redo of the Boyd Theater site, I think.

[jjv007]

Originally Posted by alasi

Flyers Fan did a great one looking towards Center City that also includes the SLS (post #2910).

Thanks, that's beautiful!

[JLKim]

The northeast corner of Broad and Locust Streets is in for a dramatic change, with a touch of intrigue.

The first phase will begin Friday, July 3, which will be the last night of service for Varalli, Joe Varalli's Italian seafood restaurant that is a longtime destination on the Avenue of the Arts

...

The three buildings were purchased by entities named BL Partners Group L.P. and BL 219 Partners L.P. The partnerships' mailing addresses are the same as Pearl Properties, the Center City developers that have been on a buying binge. Pearl, in the news for its redevelopment of the historic Boyd Theater, has been assembling prime Center City corners, including 1401 Walnut, 1701 Walnut, 801 Walnut, 1512 Walnut, 1200 Walnut, and 1600 Chestnut.

Read more at http://www.philly.com/philly/blogs/the-i...road-and-Locust.html#k2vdLDsJfF5KQKcM.99

[Flyers2001]

Has this been covered?

http://www.philly.com/philly/blogs/the-i...mid-development-at-Broad-and-Locust.html

The three buildings were purchased by entities named BL Partners Group L.P. and BL 219 Partners L.P. The partnerships' mailing addresses are the same as Pearl Properties, the Center City developers that have been on a buying binge. Pearl, in the news for its redevelopment of the historic Boyd Theater, has been assembling prime Center City corners, including 1401 Walnut, 1701 Walnut, 801 Walnut, 1512 Walnut, 1200 Walnut, and 1600 Chestnut.

A Pearl rep did not return a message seeking comment Saturday. The owner of Mama Angelina's Pizza was unavailable for comment Saturday.


Read more at http://www.philly.com/philly/blogs/the-i...road-and-Locust.html#GFQKYiE7IP00u7y4.99

[Hrytsyu]

How comforting they are building a 600 unit, six-level building entirely of matchsticks. A new high watermark for L&I. Furthermore, we have seen what fire is capable of doing to similar structures...in Conshohocken, for example.

[jsbrook]

Originally Posted by JLKim

Read more at http://www.philly.com/philly/blogs/the-i...road-and-Locust.html#k2vdLDsJfF5KQKcM.99

YES. YES. YES! I have been waiting for this. That parking garage is hideous and a blight on South Broad. If Pearl tears it down and puts something up in its stead, I'd forgive them most anything. Even the 1900 Chestnut plan that was scrapped and is now in neighborhood review.

[MikeNigh]

Originally Posted by jsbrook

YES. YES. YES! I have been waiting for this. That parking garage is hideous and a blight on South Broad. If Pearl tears it down and puts something up in its stead, I'd forgive them most anything. Even the 1900 Chestnut plan that was scrapped and is now in neighborhood review.

“We should rename [the street] the Avenue of the Apartments."

[shadowbat2]

Oh man I was always thinking of how this is the worst corner of S. broad street (Ave of Arts). With luck maybe they can buy that parking garage fronting Locust as well

[hammersklavier]

Originally Posted by shadowbat2

Oh man I was always thinking of how this is the worst corner of S. broad street (Ave of Arts). With luck maybe they can buy that parking garage fronting Locust as well

I think they did.

I had no idea the Rappaport estate controlled that entire land assemblage. Incredible that vestiges of a speculator who died some twenty years ago still remain in this city.

Not for much longer hopefully.

[summersm343]

Originally Posted by JLKim

Read more at http://www.philly.com/philly/blogs/the-i...road-and-Locust.html#k2vdLDsJfF5KQKcM.99

Love it!

Thanks for the update. This could definitely be a great project.