PHILADELPHIA | Lowrise/General Developments Thread

[AbortedWalrus]

Originally Posted by Stafford_phlre

Completely off topic, What is everyone's thoughts on Francisville and the minor developments occurring in that neighborhood along the ridge avenue corridor?

Ive heard many people refer to it as the next Graduate hospital but also a dead end...input is valued.

Thanks

I've gained $100k+ in value on my condo in Francisville in four years. Take that as you will.

Ridge Ave from Fairmount to Girard will probably be completely infilled by 2017. As far as I know most of it is bought and in pre-construction. It won't take long for it to trickle out from Ridge at that point. Once the DL and the potentially huge development behind it with a super market are done it will probably be nearing peak value.

Related to this, does anyone know how to get lists of new construction properties being built in an area? My wife and I are looking to upgrade our house and wanted to go in a new construction direction, but every time I see a listing anywhere it's already pending sale.

[ScreamShatter]

Originally Posted by Human Scale

-5 year lookout: Fishtown
Current: East Passyunk
5 year lookout: Point Breeze (cheap stock, CHOP)
10 year lookout: Francisville/Fairmount & Broad (multiple investment projects)
15 year lookout: Powelton/Mantua (railyard capping)

I don't buy into Powelton/Mantua being anything more than a college kid thing eventually. The neighborhoods that are developing the quickest are all ones that directly touch a subway line.

[Tlphila]

Originally Posted by Larry King

Check out brewerytown (west of 27, south of Cecil) or Norris square area

Larry what part of Norris Square do you like, south or north of the park? It seems both sections are serviced by an el stop if I am correct. I know Norris Square Civic has actively held back gentrification in the past, is this still an issue as far as you're concerned? Thanks!

[summersm343]

Originally Posted by ScreamShatter

I don't buy into Powelton/Mantua being anything more than a college kid thing eventually. The neighborhoods that are developing the quickest are all ones that directly touch a subway line.

That's short sighted I think. Powelton Village and Mantua's location are enough to make them a prime neighborhood soon. Being close to Drexel/Penn and Penn Medicine, CHOP, the Science Center and UCity Square and Drexel's Innovation Neighborhood and maybe the eventual capping of the Powelton Yards? This is a TON of investment in the area, and is bound to spill over into Powelton and Mantua as more jobs are added to University City.

[PhilliesPhan]

Regarding Philly's next great neighborhood, Strawberry Mansion has my vote. There is currently so much development occurring in Brewerytown, Francisville, along Girard Avenue, etc. Also, if the PHA Sharswood Transformation Project becomes a successful mixed-income community, then Strawberry Mansion will be extraordinarily prime for development. Strawberry Mansion also boasts beautiful Victorian housing stock. Finally, it is right up against Fairmount Park. Some of Philly's greatest revitalization efforts have happened near green spaces. The only downsides to this area are crime, weak retail corridors on Ridge Avenue, and transportation. In the short-term, making the 61 a 24/7 service would go a long way. In the long-term, a subway line under Ridge Avenue from Andorra to at least 8th and Market (current Broad-Ridge Spur) would lead to a sustained revitalization of the area.

As for Powelton Village and Mantua, I'm banking on the prediction that 34th Street will become one of Philly's most expensive streets. When the capping is complete and fully developed upon, 34th Street will take one from the Philly Zoo, to the newly developed area around SEPTA's Powelton Yard and Amtrak's Penn Coach Yard, to Penn's campus.

North Broad is an area that should be receiving DENSE developments. The lots surrounding Spring Garden should receive TOD credits to build tall and dense. Same with area around Girard. The intersection of the BSL and the 15 trolley should absolutely receive some TOD. In Center City, it makes perfect sense to build on the surface parking lots that surround Race-Vine station. As of right now, North Broad between Race-Vine and Susquehanna-Dauphin should come together nicely. Hopefully, development could push to the area around North Philadelphia (BSL, SEPTA, and Amtrak)/North Broad.

Callowhill/Chinatown North is going to EXPLODE pretty soon. With the Reading Viaduct Railpark coming along and Chinatown Eastern Tower coming online soon, I can see a lot of development coming over that way. It would help to construct a new subway station at Noble and Ridge.

I am currently in college with the intention of becoming a real estate developer. As a Philly/Delco native, I have seen neighborhoods rise out of decline to something special. I legitimately care about the city. Strawberry Mansion will probably be the first neighborhood I will try to invest in. I can see my investment yielding high returns.

[Human Scale]

Originally Posted by Tlphila

I also think Grays Ferry has tons of potential. Pennovation is under construction, the new parks along the river, and its prime location close to Center City & University City etc. I drove through the other day, the northern end of the neighborhood is starting to see a flurry of development and construction in Pt. Breeze is almost right up against the 25th St. tracks.

I should have said Point Breeze/Grays Ferry because I was actually thinking of Grays Ferry more so than Point Breeze with the CHOP development. Although I believe Google calls it Devil's Pocket.

[Human Scale]

Originally Posted by ScreamShatter

I don't buy into Powelton/Mantua being anything more than a college kid thing eventually. The neighborhoods that are developing the quickest are all ones that directly touch a subway line.

If I had money to invest, this is where I'd put it. Point Breeze is still a good buy, but my sister just got a place near the Sardine Bar last year for $125,000. Comps now up to $180,000. If you really wanna get THE BIGGEST RETURN by buying dirt cheap and selling sky high, it would be Mantua buy now and sell in the late 2020's.

We, on this forum, and as members of the development/planning communities really should be the front line for property investors.

[hammersklavier]

If you're playing the long game, I'd say

-Mantua past the student housing
-Grays Ferry + Forgotten Bottom
-Broad between Temple and its hospital
-East Parkside
-Kingsessing out to 52nd-ish, West Philly south of market out to 54th or so
-upper South Kensington (already development activity along Berks)
-Germantown (I would advise getting in touch with Billy Ross from Philly Speaks for opportunities there)

Right now new construction is concentrated north of Center City for the simple and obvious reason that there's more empty space there. Redevelopment in South Philly and West Philly is more often (occasionally gut) rehabs, vertical additions, demo + replace. The Ridge Avenue corridor is going to be the city's next Interesting Strip after it gets seeded IMO.

[Larry King]

Originally Posted by Tlphila

Larry what part of Norris Square do you like, south or north of the park? It seems both sections are serviced by an el stop if I am correct. I know Norris Square Civic has actively held back gentrification in the past, is this still an issue as far as you're concerned? Thanks!

I like both. South is a bit nicer right now but both are on a big upward trajectory

I wouldn't worry too much about the civic, I don't think they're well capitalized and much of the development in the neighborhood will be construction and rehabs of single family homes which can be done by right without RCO input. Other side of the el is so expensive now, I don't see how it wouldn't spill over. Plus an active civic in the neighborhood is a good thing imo, it's a neighborhood where people care about QOL issues... Between the civic and the councilwoman living there... You have people paying attention to the details that make neighborhoods livable

[jsbrook]

Originally Posted by ScreamShatter

I don't buy into Powelton/Mantua being anything more than a college kid thing eventually. The neighborhoods that are developing the quickest are all ones that directly touch a subway line.

If University City/uCity Square attract businesses and otherwise take off like they hope, Powelton and Mantua will become some of the city's most desirable neighborhoods. Especially with some capping and development over the railroad tracks. When I next have liquidity, I'll definitely be looking into investment property there.

When work is a 10 minute walk, you don't need a subway. I live in Rittenhouse and again work about 10 minutes away walking (after a brief, miserable period of having to drive to a different job in Wilmington). Aside from Eagles games, I almost never use the subway in this city. Walk or cabs.

[jsbrook]

Originally Posted by jsbrook

If University City/uCity Square attract businesses and otherwise take off like they hope, Powelton and Mantua will become some of the city's most desirable neighborhoods. Especially with some capping and development over the railroad tracks. When I next have liquidity, I'll definitely be looking into investment property there.

When work is a 10 minute walk, you don't need a subway. I live in Rittenhouse and again work about 10 minutes away walking (after a brief, miserable period of having to drive to a different job in Wilmington). Aside from Eagles games, I almost never use the subway in this city. Walk or cabs.

Mantua also has an extremely high number of vacant properties, so it is ripe for prompt and rapid development when the conditions are right.

[FourS]

Parkside might be a good bet for the next 10 years too. Big, beautiful Victorian houses right next to the park (like Strawberry Mansion) and proximity to University City (like Mantua). No convenient transit options other than the Girard Trolley, but no where that's currently cheap is perfect.

The area bounded by Market, 40th, 50th, and Walnut is set to explode. There are already a few small projects, but with the new Public Safety headquarters, the new LEED office building at 42nd and Market, three Market-Frankford stops, proximity to Penn/Drexel/Hospitals, and a lot of vacant or underused land, I can see this area going crazy soon. There's a 5 or 6 story LEED apartment building nearing completion at 44th and Ludlow. They just started digging for the new apartment (mixed use?) at 43rd and Sansom. Post Brothers have bought and plan to renovate the Netherlands at 43rd/44th and Chestnut.

I agree with other posters about the potential of many neighborhoods, but they all can't boom at once. Either a handful will boom, or a bunch of them will gradually improve.

[FourS]

A lot of the area located along the El west of 40th is also zoned for growth. I own rowhouse on Ludlow that's zoned CMX4. The 5 1/2 story apartment building they just put up towers over the block and didn't need any approvals or variance (it was by-right). If the Oren Brothers managed to cobble together coherent zoning for the patchwork of lots they've sewn together on the northwest and southwest corners of 44th and Ludlow, they're going to build two massive new buildings. The Spruce Hill NA seems to support it soit might happen. Now all the area needs is more trees.

[3rd&Brown]

Originally Posted by Tlphila

Larry what part of Norris Square do you like, south or north of the park? It seems both sections are serviced by an el stop if I am correct. I know Norris Square Civic has actively held back gentrification in the past, is this still an issue as far as you're concerned? Thanks!

I like South near the Berks St stop.

I just bid on a house on the 1900 block of N Howard. I think it got 6 bids on the first day. Granted, it was a special house because the person selling it has owned it for over 50 years and it was absolutely in tact, whereas most of the houses around there have been stripped of all character in terms of the interior, to be replaced by things like stick on tile in the living room and popcorn ceilings with glitter.

[Arch+Eng]

Originally Posted by 3rd&Brown

..popcorn ceilings with glitter.

Pretty sure that's historic by now.

[summersm343]

Broad and Callowhill - Hanover North Broad
Two 6 floor buildings - luxury apartments and ground floor retail/commercial

Southeast Corner - excavation has started


Rendering:


http://www.phillymag.com/property/2015/07/06/parkway-corporation-broad-callowhill/


Southwest Corner - lot still open but huge permits are up


Rendering:


http://www.phillymag.com/property/2014/01/28/huge-mixed-use-project-planned-broad-callowhill/

[mmikeyphilly]

I thought there was a thread for this project, but I couldn't locate it.
The Darian?

[/IMG]

[Kidphilly]

try Dalian

[summersm343]

Originally Posted by mmikeyphilly

I thought there was a thread for this project, but I couldn't locate it.
The Darian?

There is no thread for the Dalian. Only projects over 12 floors will get their own thread. Everything shorter than 12 will be posted here in the General Developments thread.

[summersm343]

Dalian on the Park - 22nd and Pennsylvania Ave - 10 floors