PHILADELPHIA | Highrise Development Thread IX

[Outta here]

Nothing for nothing but I just read an article about the new proposal and design for the long delayed
Two World Trade Center in Manhattan . Something like eight separate off set boxes that will rise some
1340 feet when complete . If interested , check it out in the up dated data base .

[Plokoon11]

Isn't that a month old at this point? Not a big fan of it. Looks fragile looking.

[Plokoon11]

Originally Posted by 1487

http://www.philly.com/philly/business/re..._residences_on_2100_block_of_Market.html

looks like we wont see anything here for at least 2 years. Good news about another tenant (a big one) at 1900 market- but one wonders if its just a company vacating another CC office building.

Sounds like citc is already influencing with its loft space and mixed use qualities, but can't wait to see what they will come up with.

[Outta here]

Originally Posted by Plokoon11

Isn't that a month old at this point? Not a big fan of it. Looks fragile looking.

It may be a month old , I don't city skip too often so I just found it today .
Personally , I'm for almost anything that takes the place of an empty lot , so
fan or no fan , something this size or shape would look fantastic at , say , 23rd. &
Market ........ no ??

[Flyers2001]

Originally Posted by Outta here

It may be a month old , I don't city skip too often so I just found it today .
Personally , I'm for almost anything that takes the place of an empty lot , so
fan or no fan , something this size or shape would look fantastic at , say , 23rd. &
Market ........ no ??

I prefer the Foster design WTC 2, but the new one has grown a bit on me because of its unique design plus size.

[summersm343]

Originally Posted by 1487

http://www.philly.com/philly/business/re..._residences_on_2100_block_of_Market.html

looks like we wont see anything here for at least 2 years. Good news about another tenant (a big one) at 1900 market- but one wonders if its just a company vacating another CC office building.

I think most of knew it would be at least 2 years until we saw action at this lot but we may see renderings in 6 months to a year. It takes time to hire architects, engineers and designers to design a tower, then get financing in place and tenants if it's an office building, etc.

For 1900 Market, it depends what tenant if they are currently in Center City. If it's a smaller company expanding into larger digs and hiring new employees then that's a net win for the city and their old space can easily be released by another small firm. If it's a large company just moving from one building to another, that's not a gain and still leaves a chunk of office space available.

[Boku]

Insiders anticipate the developer will eventually take advantage of the prime location–and its air rights–to build up at the site of the low-slung, one-story building.

Pearl Propeties owns the building at 1529 Walnut Street under the name 1529 Walnut Street Associates, so that would allow for them to build something substantial on the former Lululemon site, if that is indeed the plan.

Read more at http://www.phillymag.com/property/2015/0...uys-lululemon-building-on-walnut-street/

[1487]

Originally Posted by summersm343

I think most of knew it would be at least 2 years until we saw action at this lot but we may see renderings in 6 months to a year. It takes time to hire architects, engineers and designers to design a tower, then get financing in place and tenants if it's an office building, etc.

For 1900 Market, it depends what tenant if they are currently in Center City. If it's a smaller company expanding into larger digs and hiring new employees then that's a net win for the city and their old space can easily be released by another small firm. If it's a large company just moving from one building to another, that's not a gain and still leaves a chunk of office space available.

I was just saying I'm wondering if this an addition or simply a transfer of jobs. The size of the lease suggests its an existing tenant that is building hopping. Im pretty sure news of any major tenant coming into the city needing this kind of space would be widely known at this point. It could be cigna. But obviously it's not a net gain for CC if this tenant is simply moving a couple of blocks.

[jsbrook]

Originally Posted by Boku

Read more at http://www.phillymag.com/property/2015/0...uys-lululemon-building-on-walnut-street/

Great. I am pretty sure this building is slated for demolition as a result of the roof collapse. I walk past it it all the time. There are signs (not sure how this article missed that). So hopefully Pearl builds something awesome from the ground-up. Maybe the original render of 1900 Chestnut...would love to see a restaurant tenant on the ground floor. Some nice outdoor seating. Walnut needs to reintegrate restaurants. Back in the day, there was Brasserie Perrier and the like and it was great.

[jsbrook]

Originally Posted by jsbrook

Great. I am pretty sure this building is slated for demolition as a result of the roof collapse. I walk past it it all the time. There are signs (not sure how this article missed that). So hopefully Pearl builds something awesome from the ground-up. Maybe the original render of 1900 Chestnut...would love to see a restaurant tenant on the ground floor. Some nice outdoor seating. Walnut needs to reintegrate restaurants. Back in the day, there was Brasserie Perrier and the like and it was great.

I guess the costs make it hard for restaurant tenants to manage on Walnut these days, though. Which is a shame.

[br323206]

Originally Posted by jsbrook

Great. I am pretty sure this building is slated for demolition as a result of the roof collapse. I walk past it it all the time. There are signs (not sure how this article missed that). So hopefully Pearl builds something awesome from the ground-up. Maybe the original render of 1900 Chestnut...would love to see a restaurant tenant on the ground floor. Some nice outdoor seating. Walnut needs to reintegrate restaurants. Back in the day, there was Brasserie Perrier and the like and it was great.

I've noticed lately that the pedestrian traffic on Walnut and Chestnut between Broad and 19th or so has gotten so thick that it makes it hard to accomodate sidewalk seating for restaurants. The numbered streets offer the perfect opportunity for outdoor cafes but Walnut and Chestnut are packed to the gills with pedestrians. I made the mistake of running down Walnut the other day, it was like an obstacle course with all the people dodging I had to do. I quickly turned south.

[1487]

Originally Posted by br323206

I've noticed lately that the pedestrian traffic on Walnut and Chestnut between Broad and 19th or so has gotten so thick that it makes it hard to accomodate sidewalk seating for restaurants. The numbered streets offer the perfect opportunity for outdoor cafes but Walnut and Chestnut are packed to the gills with pedestrians. I made the mistake of running down Walnut the other day, it was like an obstacle course with all the people dodging I had to do. I quickly turned south.

Most of the numbered streets have very narrow sidewalks so sidewalk seating is just a challenge in general in this particular area.

[Larry King]

Originally Posted by br323206

I've noticed lately that the pedestrian traffic on Walnut and Chestnut between Broad and 19th or so has gotten so thick that it makes it hard to accomodate sidewalk seating for restaurants. The numbered streets offer the perfect opportunity for outdoor cafes but Walnut and Chestnut are packed to the gills with pedestrians. I made the mistake of running down Walnut the other day, it was like an obstacle course with all the people dodging I had to do. I quickly turned south.

stop running on busy sidewalks people!! it's so obnoxious

[McBane]

Originally Posted by jsbrook

Great. I am pretty sure this building is slated for demolition as a result of the roof collapse. I walk past it it all the time. There are signs (not sure how this article missed that). So hopefully Pearl builds something awesome from the ground-up. Maybe the original render of 1900 Chestnut...would love to see a restaurant tenant on the ground floor. Some nice outdoor seating. Walnut needs to reintegrate restaurants. Back in the day, there was Brasserie Perrier and the like and it was great.

The corner property is a decent enough building, except the ground floor lacks a storefront. The building's footprint, which covers a lot of space along 16th, should be a prime retail space. I won't lose any sleep if this goes. It's a handsome building but it doesn't do anything for the street level experience.

To the east of 1527 (the Lulumon building), sits 1525 Walnut, a small two story property that currently houses Lush Spa. And the next property is 1523 Walnut (former site of Le Bec Fin) which is currently vacant and I believe is owned by Georges Perrier. The more properties that Pearl acquires, the taller they can go - and, the bigger retail space they can assemble. A large retail space at this intersection is definitely marketable to one of those coveted department stores everyone is always wishing would locate here.

Everyone knows how hot Walnut Street retail is, but the biggest knock is that there are no large contiguous spaces. Even if Pearl only combines 1527 and the corner property, that retail space is much larger than most anything else on Walnut.

I just hope that Pearl recognizes and respects this premier stretch of Walnut Street with a well designed building with quality materials.

A few other unrelated thoughts:

The days of Walnut Street being the city's premier dining street are long gone. That honor now goes to Passyunk Ave. In any case, there's still many great restaurants in the area, particularly on the Square itself. And for years, people complained that Walnut Street fell so short of other premier shopping streets, like Newbury St, 5th Ave, etc. and now that we have shops, naturally restaurants are being pushed out. It's a good thing.

Cigna was just purchased by Anthem BC. The press release said that the combined company would maintain its HQ in Indianapolis, where Anthem is currently based out of.

[br323206]

Originally Posted by Larry King

stop running on busy sidewalks people!! it's so obnoxious

Would you have me take SEPTA to Bucks County to do my running? I think runners in general try to avoid populace areas but you can't completely avoid crowds in Center City.

...and just to make this development related: The Reading Viaduct project and completion of the Delaware River Trail will add additional great spaces to get runners off the sidewalks and onto trails.

[Kidphilly]

http://www.philly.com/philly/business/re..._residences_on_2100_block_of_Market.html

[summersm343]

Originally Posted by McBane

Cigna was just purchased by Anthem BC. The press release said that the combined company would maintain its HQ in Indianapolis, where Anthem is currently based out of.

Cigna already moved their headquarters out of Philly to Connecticut a while ago, so them maintaining headquarters in Indianapolis is no loss to Philly, but likely Connecticut. Cigna is the second largest healthcare provider in the Philadelphia area after Independence Blue Cross. Therefore, they are not going move the remaining operations away from the area, as this is a huge market for them here and they would be losing a lot of customers. With that said, the city needs to do everything in its power to make sure Cigna stays in Center City when it's lease is up in Two Liberty place in 2016 and doesn't move to the suburbs.

[hammersklavier]

Originally Posted by McBane

The corner property is a decent enough building, except the ground floor lacks a storefront. The building's footprint, which covers a lot of space along 16th, should be a prime retail space. I won't lose any sleep if this goes. It's a handsome building but it doesn't do anything for the street level experience.

To the east of 1527 (the Lulumon building), sits 1525 Walnut, a small two story property that currently houses Lush Spa. And the next property is 1523 Walnut (former site of Le Bec Fin) which is currently vacant and I believe is owned by Georges Perrier. The more properties that Pearl acquires, the taller they can go - and, the bigger retail space they can assemble. A large retail space at this intersection is definitely marketable to one of those coveted department stores everyone is always wishing would locate here.

Everyone knows how hot Walnut Street retail is, but the biggest knock is that there are no large contiguous spaces. Even if Pearl only combines 1527 and the corner property, that retail space is much larger than most anything else on Walnut.

I just hope that Pearl recognizes and respects this premier stretch of Walnut Street with a well designed building with quality materials.

A few other unrelated thoughts:

The days of Walnut Street being the city's premier dining street are long gone. That honor now goes to Passyunk Ave. In any case, there's still many great restaurants in the area, particularly on the Square itself. And for years, people complained that Walnut Street fell so short of other premier shopping streets, like Newbury St, 5th Ave, etc. and now that we have shops, naturally restaurants are being pushed out. It's a good thing.

Cigna was just purchased by Anthem BC. The press release said that the combined company would maintain its HQ in Indianapolis, where Anthem is currently based out of.

I don't think Pearl owns the Brown Brothers Harriman building. IIRC the plan was (who knows now, after its bricks caused the Lululemon roof collapse) for the ground floor to be made into an Under Armour store.

Since no one died with Lulu, the litigation won't be as intense as it is with Basciano. But I doubt Pearl's gonna get the corner property. Much more likely they purchase the properties immediately east.

Also this stretch of Walnut is CMX-5 so they won't need a lot of property to build big.

[Cro Burnham]

Pretty sure Pearl bought BBH Bldg.

Yeah, here it is. Good ol' Natalie Kostelni.

http://www.bizjournals.com/philadelphia/...s-moves-offices-to-one-logan-square.html

Originally Posted by hammersklavier

I don't think Pearl owns the Brown Brothers Harriman building.

[shadowbat2]

101 N. Broad hotel conversion, looks like they're getting serious now....
134 by tehshadowbat, on Flickr

138 by tehshadowbat, on Flickr

Future brick mockup????
139 by tehshadowbat, on Flickr

From PSFS
045 by tehshadowbat, on Flickr