PHILADELPHIA | Highrise Development Thread IX - Page 447

3rd&Brown · #**8921** Posted **Oct 8, 2015, 5:51 PM**

Quote:

Originally Posted by iheartphilly

This is a big deal that Blackstone (NYC investment firm with a real estate portfolio) is getting in on the action.

Blackstone to buy developer involved with Science Center
See link: http://www.bizjournals.com/philadelphia/...-biomed-realty-trust-science-center.html

Maybe or maybe not.

Could just as easily put a halt to things if Blackstone doesn't agree with the approach of Wexford.

PhilliesPhan · #**8922** Posted **Oct 8, 2015, 5:52 PM**

Quote:

Originally Posted by summersm343

As Hammer said, this is pretty much still true, and it hurts my brain to think about it haha. However, I think Center City is LEAGUES better than it was in the mid-90's.

I'm pretty sure every main East to West Street in Center City has a surface lot or empty lot.

South Street
500 Block
800 Block
1100 Block South Side
1100 Block North Side small lot
1300 Block small lot
1400 Block South side parking lot
1400 Block South Side parking lot
1400 Block North side parking lot 1
1400 Block North side parking lot 2
1500 Block North side
1500 Block South side Royal Theater lots
1500 Block South side lot 2
1800 Block Walgreens Lot
2100 Block North side Lot
2100 Block South side CVS lot
23rd and South Lot
27th and South corner small lot

Lombard Street
200 Block Small North side lot
300 Block St. Peters School lot
5th and Lombard Presby Historical Society Lot
500 Block North side lot
500 Block Mother Bethel lot
700 Block lot
900 Block South side weirdness
1100 Block
1200 Block
Broad and Lombard Southeast, Northeast and Southwest corners
1500 Block
1800 Block Penn Medicine lot
1900 Block
2000 block small lot
2100 Block
2500 Block

Pine Street
200 Block Wells Fargo lot
13th and Pine Lot
Juniper and Pine Lot
1500 Block
17th and Pine

Spruce Street
1200 Block
1300 Block south side
1300 Block north side small lot

Locust Street
4th and Locust lot
900 Block
1100 Block lot
1100 Block Community garden
13th and Locust lot
1300 Block lot

Walnut Street
400 Block South Side
800 Block
1200 Block "Fergie Lot"
1900 Block "Southern Land Lot"
20th and Walnut Lot
2100 Block South side small lot
2200 Block Sunoco gas station
2300 Block Rite Aid lot
2400 Block "Mandeville" Lot

Chestnut Street
100 Block
700 Block
800 Block
900 Block
1800 Block "Boyds" lot
1900 Block lot
2000 Block south side PHA lot
2000 Block south side parking lot
21st and Chestnut small lot
24th and Chestnut small lot

Market Street
200 Block South side lot
3rd and Market lot (soon to be developed?)
800 Block
1300 Block
2100 Block
2200 Block North Side PECO lot
2200 Block South side
2300 Block south side small lot

JFK Blvd
18th and JFK Comcast grass lot
2000 block North side over tracks
2100 block North side over tracks
2100 block south side
2200 block north side over tracks
2200 block south side
2300 block north side over tracks

Arch Street
200 Block small lot
200 Block PMC lot (soon to be developed?)
300 Block north side lot
700 Block
800 Block north side
800 Block south side
900 Block north side small lot
900 Block south side
1000 Block north side
1000 Block south side
1300 Block
1900 Block full North side
20th and Arch small lot
2000 block
23rd and Arch massive riverfront lot (soon to be developed?)

Cherry Street
100 Block billboard lot
200 Block North side
300 Block North side
400 Block North side (soon to be developed?)
800 Block North side
11th and Race lot
N Marvine Street and Race lot
12th and Race lot
1300 Block lot 1
1300 Block lot 2
1400 Block
15th and Race
16th and Race
1700 Block
2200 Block small lot
23rd and Race lot
2300 block Riverside Presby apartments lot

I'm not doing anymore haha. You get the point. A ton of developable lots. I think Pine, Spruce, Locust, Walnut and Market have the best chance of completely filling in first.

There is literally no reason that 1300 block of Market should have a surface parking lot. That spot could easily support a 600+ footer. It is close to City Hall, Market West, and the transit nexus that exists below (MFL, BSL, trolley lines, Regional Rail lines, and an underground walkway to PATCO).

The surface lots on the 800 and 1300 blocks of Market literally piss me off. Both are extremely transit-accessible, and do not deserve to be mere surface lots. Market East would be completely transformed if these two lots would be built upon.

Knight Hospitaller · #**8923** Posted **Oct 8, 2015, 6:25 PM**

Quote:

Originally Posted by 3rd&Brown

Maybe or maybe not.

Could just as easily put a halt to things if Blackstone doesn't agree with the approach of Wexford.

Yes. Sadly, I've seen enough transactions that I know existing plans can be delayed/modified (at best) or go in the trash (at worst) when there's a new sheriff in town. I hope that won't be the case here or with the proposed merger that affects the SLS (and clearly resulted in the switch to Hyatt Centric from Hudson).

iheartphilly · #**8924** Posted **Oct 8, 2015, 6:45 PM**

Quote:

Originally Posted by Knight Hospitaller

Yes. Sadly, I've seen enough transactions that I know existing plans can be delayed/modified (at best) or go in the trash (at worst) when there's a new sheriff in town. I hope that won't be the case here or with the proposed merger that affects the SLS (and clearly resulted in the switch to Hyatt Centric from Hudson).

I like to think they want to capitalize and get an good ROI for the project going forward.

summersm343 · #**8925** Posted **Oct 8, 2015, 7:15 PM**

Undeveloped property in Logan Square comes up for sale

Quote:

One of the few remaining large development sites in the Logan Square neighborhood of Philadelphia has come up for sale and could sell for as much as $15 million.

The property at 139 N. 23rd St. totals 35,474 square feet, which is just under an acre. It is currently being used as a surface parking lot and is owned by Cherry Street Associates, an entity affiliated with PMC Property Management of Philadelphia.

At one point, PMC had proposed constructing a 26-story residential building on the parcel but has apparently decided not to move forward with it.

Jim Galbally, an investment broker with JLL, is marketing the property.

Sales of undeveloped parcels have picked up considerably as real estate investors position themselves for future development opportunities. Sites that are well located come at a premium.

Some recent transactions include: the so-called Garrison-River City site, which totals roughly seven acres along 60 N. 23rd St., and 2301, 2201, 2101 and 2001 John F. Kennedy Blvd., went for $93 a square foot; a 5,250-square-foot parcel in 2200 block of Market St. sold for $533 a square foot; a 37,000-square-foot parcel in the 2100 block of Market went for $486 a square foot; and 1911 Walnut, which totals 36,155 square feet and went for $1,100 a square foot.

The heightened interest in undeveloped land in Center City has also prompted property owners to seize on market conditions and try to make a killing by selling now.

Logan Square has become a hot-bed of development activity as have many other parts of the city.

Among the projects underway or proposed in that corner of Philadelphia are: the Comcast Innovation and Technology Center at 18th and Arch streets; Museum Towers, phase II, at 1801 Buttonwood St.; Rodin Square, an apartment complex with a new Whole Foods at 21st and Hamilton streets; Edgewater II at 23rd and Races streets; and the redevelopment of the family court building into a high-end hotel.

The parcel at 139 N. 23rd is bound by Race and Cherry streets and 23rd Street and is spread over an entire block, giving a developer ample room to come up with a sizable project. The site is zoned to accommodate residential or mixed-use development.

If a buyer isn't ready to move forward with a project, they could hold on to it and maintain the parking operations currently on site. Patriot Parking Inc. manages the lot with 95 spaces.

http://www.bizjournals.com/philadelphia/...gan-square-cherry-street-parking-lo.html

summersm343 · #**8926** Posted **Oct 8, 2015, 7:17 PM**

Exclusive: Benjamin's Desk to operate new Pennovation Center

Quote:

The University of Pennsylvania has tapped Philadelphia co-working space Benjamin's Desk as the new operator and manager of member services at the Pennovation Center at Pennovation Works.

Benjamin's Desk will also work together with the university to coordinate efforts on commercialization, workshops and networking events. It will collaborate with PCI Ventures to incubate new companies generated within the facility.

"Successful companies grow when exposed to a diversity of talent, ideas and technology," Shelton Mercer, Benjamin's Desk chief strategy officer, said in a release. "Benjamin’s Desk will integrate our well-honed space planning and management expertise and collaborative approach to entrepreneurial development into the life of the Pennovation Center to help it become a significant contributor of the global innovation community."

Pennovation Works is a 23-acre site dedicated toward giving Penn and Philadelphia entrepreneurs and researchers the best resources to commercialize their ideas. The Pennovation Center will be a three-story, 58,000 square-foot facility set to open next summer.

Once completed, the Pennovation Center will host private office suits, labs, conference rooms, event spaces and co-working spaces with over 200 desks for startups seeking affordable office space.

http://www.bizjournals.com/philadelphia/...s-desk-pennovation-center-incubator.html

Londonee · #**8927** Posted **Oct 8, 2015, 7:23 PM**

[QUOTE=summersm343;7191129]Exclusive: Benjamin's Desk to operate new Pennovation Center

exclusive? it's on a public website... by definition, the opposite of exclusive?

not trying to bust your balls summer, but maybe use the large, emboldened text for true exclusive news.

summersm343 · #**8928** Posted **Oct 8, 2015, 7:31 PM**

[QUOTE=Londonee;7191139]

Quote:

Originally Posted by summersm343

Exclusive: Benjamin's Desk to operate new Pennovation Center

exclusive? it's on a public website... by definition, the opposite of exclusive?

not trying to bust your balls summer, but maybe use the large, emboldened text for true exclusive news.

I literally copied the article headline and posted it here. That's not my wordage. I post all article headlines with the same bold, #4 font. No need for your usual snarky remarks.

summersm343 · #**8929** Posted **Oct 8, 2015, 9:00 PM**

Crane going up at One Riverside marks 17 up total in the city.

Pretty impressive. I don't think there has been this many cranes up at once in Philadelphia sine maybe the early 90s.

CHOP 700 Schuylkill
2 at FMC Tower
Study Hotel
3 at CITC
2 at Dalian on the Park
Museum Towers II
1601 Vine
East Market
1919 Market
Museum of the American Revolution
One Water Street
500 Walnut
One Riverside

Total = 17

Knight Hospitaller · #**8930** Posted **Oct 8, 2015, 9:05 PM**

Quote:

Originally Posted by summersm343

Crane going up at One Riverside marks 17 up total in the city.

Pretty impressive. I don't think there has been this many cranes up at once in Philadelphia sine maybe the early 90s.

CHOP 700 Schuylkill
2 at FMC Tower
Study Hotel
3 at CITC
2 at Dalian on the Park
Museum Towers II
1601 Vine
East Market
1919 Market
Museum of the American Revolution
One Water Street
500 Walnut
One Riverside

Total = 17

Too bad W, SLS, Bridge aren't ready for cranes yet. It would be nice to break into the twenties!

apetrella802 · #**8931** Posted **Oct 9, 2015, 12:11 AM**

[QUOTE=Knight Hospitaller;7191335]

I'm not sure were to put this but it is a lecture by helmut jon on his 40 year career. At 28:08 min into the talk he discusses Liberty I & II

http://www.ctbuh.org/TallBuildings/Video...uage/en-US/Default.aspx#/videos/watch/62

hammersklavier · #**8932** Posted **Oct 9, 2015, 2:23 AM**

Quote:

Originally Posted by Londonee

Quote:

Originally Posted by summersm343

Exclusive: Benjamin's Desk to operate new Pennovation Center

exclusive? it's on a public website... by definition, the opposite of exclusive?

not trying to bust your balls summer, but maybe use the large, emboldened text for true exclusive news.

"Exclusive" in a headline has a very specific meaning, you know. It means the reporter's gotten the scoop on everybody else.

Quote:

Originally Posted by 3rd&Brown

Maybe or maybe not.

Could just as easily put a halt to things if Blackstone doesn't agree with the approach of Wexford.

I would not worry overmuch about this. Wexford has a very specific M.O. that has been successfully deployed in other cities as well. If Blackstone doesn't agree with it, it would be more profitable to spin Wexford off than to change its M.O. or force it into whatever Blackstone wants it to be.

And anyways it's hard to think Blackstone would care about it thaaaaaat much since it would be a sub-subsidiary (remember, Wexford was already a subsidiary of BioMed, and I don't think Blackstone and BioMed have core competencies in the same ballpark, much less overlapping ones.)

Outta here · #**8933** Posted **Oct 9, 2015, 12:58 PM**

http://johnnygoodtimes.com/wp-content/uploads/2009/12/walton-pic.jpg

I'm so sick of looking at that cancer at 8th.& Market , I would just as soon
prefer this to the scar that is there now .

Boku · #**8934** Posted **Oct 9, 2015, 1:34 PM**

Biopharmaceutical company to build $4 million facility at Navy Yard

Quote:

Adaptimmune Therapeutics, a biopharmaceutical company developing cancer immunotherapy treatments, is planning to expand its presence in Philadelphia with a new 46,000-square-foot facility at the Philadelphia Navy Yard – a project that will create 110 new jobs over the next three years.

http://www.bizjournals.com/philadelphia/...y-yard-south-philly-construction-4m.html

Mappy · #**8935** Posted **Oct 9, 2015, 1:43 PM**

Quote:

Originally Posted by summersm343

Crane going up at One Riverside marks 17 up total in the city.

Pretty impressive. I don't think there has been this many cranes up at once in Philadelphia sine maybe the early 90s.

CHOP 700 Schuylkill
2 at FMC Tower
Study Hotel
3 at CITC
2 at Dalian on the Park
Museum Towers II
1601 Vine
East Market
1919 Market
Museum of the American Revolution
One Water Street
500 Walnut
One Riverside

Total = 17

I would love to see a graph showing the number of cranes in a cities over time. Being able to compare major cities and the number of tower cranes could probably be correlated to some sort of social or economic trends.

iheartphilly · #**8936** Posted **Oct 9, 2015, 1:55 PM**

Quote:

Originally Posted by Mappy

I would love to see a graph showing the number of cranes in a cities over time. Being able to compare major cities and the number of tower cranes could probably be correlated to some sort of social or economic trends.

I volunteer you, Mappy!

Seriously, for starters, the Science Center in University City (UC) has been a driver in bringing more bio-science/bio-medical high tech jobs to the area, particularly UC and Navy Yard. Hopefully, these good paying jobs keep these professionals living and playing inside Philly.

McBane · #**8937** Posted **Oct 9, 2015, 4:34 PM**

Speaking of cranes and a subject we had touched on a few weeks ago...

About those cranes in Nashville, yes, they use cranes for projects as small as 4 stories, of which there are many. Doesn't make the city any more urban. You only need to go a half mile from the core and it's like you're in suburbia. That doesn't mean Nashville isn't a great, fun city. What's interesting is what's driving the growth - everyone I talked to seemed to have moved to Nashville from another state. Here in Philly, our growth is mostly fueled by neighboring suburbs who now appreciate what the city has to offer.

And small knitpick - I kinda agree with Londonee. Summers, could you reserve your use of big bold headlines for major stories, like a new building announcement or a new employer moving into town? Or next time you have a real big scoop, you should use a really gigantic font?

Also, I agree with Hammers. Wexford has a very specific operating model and Blackstone would not have purchased it if it disagreed with its strategies.

Boku · #**8938** Posted **Oct 9, 2015, 4:55 PM**

Quote:

Originally Posted by McBane

And small knitpick - I kinda agree with Londonee. Summers, could you reserve your use of big bold headlines for major stories, like a new building announcement or a new employer moving into town? Or next time you have a real big scoop, you should use a really gigantic font? :cheers

Hey guys I have a great idea, let's badger the moderator, who also happens to be one of the best sources on developments in the city, on his use of font sizes and headlines from news articles. He'll really appreciate it and want to work even harder than he does now.

Londonee · #**8939** Posted **Oct 9, 2015, 5:01 PM**

Quote:

Originally Posted by McBane

Speaking of cranes and a subject we had touched on a few weeks ago...

About those cranes in Nashville, yes, they use cranes for projects as small as 4 stories, of which there are many. Doesn't make the city any more urban. You only need to go a half mile from the core and it's like you're in suburbia. That doesn't mean Nashville isn't a great, fun city.

One other thing about the amount of Nashville cranes, and not to sound petty...

But that city is 535square miles - nearly 4 times the land mass of Philly. That land mass size would accommodate a significant portion of the entire Philly metro. Conshy, KOP, Camden, etc.

Really a more apples to apples comparison would be how many cranes are there in the urbanized downtown core?

Knight Hospitaller · #**8940** Posted **Oct 9, 2015, 5:01 PM**

Quote:

Originally Posted by Boku

Hey guys I have a great idea, let's badger the moderator, who also happens to be one of the best sources on developments in the city, on his use of font sizes and headlines from news articles. He'll really appreciate it and want to work even harder than he does now.

I second that sentiment. It's not like us nerds on here aren't reading every line of every post. I don't really care about the typeface, but demand more pictures of kittens.