PHILADELPHIA | Highrise Development Thread IX

[summersm343]

Navigate to open Philadelphia satellite office at 1650 Arch St.

Wayne-based management-consulting firm Navigate is opening a 2,200-square-foot satellite office in Center City's 1650 Arch St. office building on Thursday, the company said in a statement.

Navigate plans to have about 30 employees based in the Center City office by the end of the year, including transfers from its headquarters and new hires, the company said.

The move is aimed at better supporting its central Philadelphia customer base and aiding recruiting of Center City-based talent, managing partner Robert Kathol said in the release.

Read more at http://www.philly.com/philly/business/re...t_1650_Arch_St_.html#T1kcO0hJw5PScOY0.99

[1487]

Originally Posted by summersm343

Navigate to open Philadelphia satellite office at 1650 Arch St.



Read more at http://www.philly.com/philly/business/re...t_1650_Arch_St_.html#T1kcO0hJw5PScOY0.99

2,200sf isn't much but something is better than nothing I guess.

[Chubbs Peterson]

Is it just me or is 2,200 SF super small for 30 employees... 73 SF per person. Maybe 2,200 is the day 1 size with phased expansion?

[jsbrook]

Originally Posted by Chubbs Peterson

Is it just me or is 2,200 SF super small for 30 employees... 73 SF per person. Maybe 2,200 is the day 1 size with phased expansion?

That's what i was thinking too. Can't see 2,220 sf being feasible for that number. 30 employees is a nice thing. Nice to the recent trend of suburban companies opening satellite offices. Hopefully the experiment will be favorable and we'll see some permanent relocations down the line.

[AbortedWalrus]

Originally Posted by Chubbs Peterson

Is it just me or is 2,200 SF super small for 30 employees... 73 SF per person. Maybe 2,200 is the day 1 size with phased expansion?

Average cube these days is 75sqft. If you're doing an open office plan with just desks for your workers you can save a ton of space over that. I wouldn't be shocked if that was the size at all. I've heard stories about software shops with conditions like that plenty of times. Just desks lined up back to back in rows.

[br323206]

Originally Posted by AbortedWalrus

Average cube these days is 75sqft. If you're doing an open office plan with just desks for your workers you can save a ton of space over that. I wouldn't be shocked if that was the size at all. I've heard stories about software shops with conditions like that plenty of times. Just desks lined up back to back in rows.

Additionally, if they allow work from home for a portion of the week they may have shared work spaces. A lot of companies are moving that way.

[McBane]

Post Bros. buys Center City Properties from PREIT

Properties are:
1501-05 Walnut shown here: https://goo.gl/maps/sZPE1uABau32
1520-22 Chestnut shown here: https://goo.gl/maps/bpyrDeXwQ1S2

Note that the Chestnut Street property is pretty large, extending south to Sansom.

Post Brothers president Matthew Pestronk said in an e-mail that the terms of the deal are protected by a confidentiality agreement, but that the company's expenditures on the acquisition and planned improvements will exceed $50 million.

$50m doesn't buy a high rise, that's for sure. But maybe a small addition to the Chestnut Street property? The Walnut Street property seems to be in perfect condition.

I recall a recent post about the Chestnut Street property or maybe it was the neighboring garage? Anyone remember?

[Cro Burnham]

Originally Posted by McBane

$50m doesn't buy a high rise, that's for sure.

That could buy a small highrise / nice sized midrise . . . .

[McBane]

Or maybe not. The article has been updated. It shows a nice/glassy storefront for Chestnut, but unfortunately, the building will remain 2 stories. Boo!

It also says the Walnut St property was just recently refurbished, so it's not likely they'll be pouring money into that and like I said, it looks very nice as is.

Finally, I didn't see that the $50m number included the properties AND the planned improvements. So yea, this makes sense.

[PhillySteaks]

Originally Posted by Chubbs Peterson

Is it just me or is 2,200 SF super small for 30 employees... 73 SF per person. Maybe 2,200 is the day 1 size with phased expansion?

Two words...Bench Seating. It's a major trend going on with technology and financial service firms at the moment. More or less to increase headcount and lower footprint (cost).

"Depending on the type of work the width allocated per person on a bench can vary from as low as 4' to 7'~8', with most technology companies opting for 5' per person. The depth of the individual bench space is dependent on the style and depth of the workcounter, but allowing a minimum of 7' should be sufficient."

[Knight Hospitaller]

Originally Posted by McBane

Post Bros. buys Center City Properties from PREIT

Properties are:
1501-05 Walnut shown here: https://goo.gl/maps/sZPE1uABau32
1520-22 Chestnut shown here: https://goo.gl/maps/bpyrDeXwQ1S2

Note that the Chestnut Street property is pretty large, extending south to Sansom.



$50m doesn't buy a high rise, that's for sure. But maybe a small addition to the Chestnut Street property? The Walnut Street property seems to be in perfect condition.

I recall a recent post about the Chestnut Street property or maybe it was the neighboring garage? Anyone remember?

This article has a rendering of the planned Chestnut Street improvements: http://www.philly.com/philly/business/20...s_Center_City_properties_from_PREIT.html. Just a glass front shoppe. Walnut probably remains as is. They're just finishing up the AT&T store at that corner, which forms part of the property. UPDATE: I should've read your post two lines up before posting this!

[1487]

Originally Posted by Knight Hospitaller

This article has a rendering of the planned Chestnut Street improvements: http://www.philly.com/philly/business/20...s_Center_City_properties_from_PREIT.html. Just a glass front shoppe. Walnut probably remains as is. They're just finishing up the AT&T store at that corner, which forms part of the property. UPDATE: I should've read your post two lines up before posting this!

does anyone know why the ATT store never opened? The windows have been plastered with the ATT posters for months but there is no store. The last time I walked by the first floor was still empty, the store wasn't even being fit out.

[Knight Hospitaller]

Originally Posted by 1487

does anyone know why the ATT store never opened? The windows have been plastered with the ATT posters for months but there is no store. The last time I walked by the first floor was still empty, the store wasn't even being fit out.

Sorry if I misspoke. If activity ground to a halt, it may have been in anticipation of the property being sold. Maybe the new landlord wants to enter into it's own lease (or has other plans for the space). Anything but another cellphone store or bank would be nice.

[jsbrook]

Great news on the Post Brothers acquisition. Finally, we should see some turnover and an upgrade in retail on that stretch of Chestnut. Started happening before this (with Wok and whatever's going in next to that men's clothing store) but will continue. Don't see Empire Beauty long for this world there. When the lease is over, it's gone.

[summersm343]

Community College of Philadelphia going residential to boost international enrollment

1500 Hamilton - two 12 story, ~170 FT towers - residential/retail

Community College of Philadelphia plans a pair of new residential towers beside its Spring Garden Street campus to accommodate a hoped-for influx of high-achieving - and higher-paying - international students.

The two-year public college has selected Wayne-based Radnor Property Group to develop the roughly 500-unit, 11-story complex at 15th and Hamilton Streets, with plans for a mix of student- and non-student-housing.

CCP joins a small but growing list of community colleges nationwide that are looking abroad for an antidote to sinking enrollments. Key to their plans are on- and near-campus housing for the newcomers, a shift for what historically have been commuter schools.

"You can't realistically recruit international students without housing," college president Donald Generals said. "I think we are grossly underserving that market, and I think that is a growing market."
School trustees voted Thursday to enter exclusive negotiations with Radnor after vetting multiple proposals for the 1.7-acre school-owned site that's now an industrial building and garage. The deal would have Radnor enter a long-term ground lease for the land and agree to rent a portion of the complex's units to CCP students.

Work on the $130 million project, which will include ground-floor retail and some underground parking, could begin in spring of 2017, with the first tower complete for the 2018 school year, Radnor president David Yaeger said.

It will be the first major construction project project at CCP's main campus since a $56 million expansion of the school's academic and administrative buildings that began in 2008.

Read more at http://www.philly.com/philly/business/20...onal_enrollment.html#XyGGJamZFWxrCVyk.99

[eixample]

Originally Posted by McBane

Post Bros. buys Center City Properties from PREIT

Properties are:
1501-05 Walnut shown here: https://goo.gl/maps/sZPE1uABau32
1520-22 Chestnut shown here: https://goo.gl/maps/bpyrDeXwQ1S2

Note that the Chestnut Street property is pretty large, extending south to Sansom.

I just hope they fix the rear of that Dollar Store/Chestnut property facing Sansom. There is a dumpster that takes up most of the sidewalk and bike racks that take up the rest so that maybe one pedestrian can squeeze through. I wish the city would ban all dumpsters on Sansom, businesses shouldn't treat it like an alley.

[1487]

Originally Posted by eixample

I just hope they fix the rear of that Dollar Store/Chestnut property facing Sansom. There is a dumpster that takes up most of the sidewalk and bike racks that take up the rest so that maybe one pedestrian can squeeze through. I wish the city would ban all dumpsters on Sansom, businesses shouldn't treat it like an alley.

They need to fix the front first, the sidewalk is partially obstructed by scaffolding that has been erected to presumably protect pedestrians from being hit from falling facade debris. They likely have quite a bit of work to do ASAP to make this building safe.

[br323206]

Originally Posted by eixample

I just hope they fix the rear of that Dollar Store/Chestnut property facing Sansom. There is a dumpster that takes up most of the sidewalk and bike racks that take up the rest so that maybe one pedestrian can squeeze through. I wish the city would ban all dumpsters on Sansom, businesses shouldn't treat it like an alley.

I mean, I am all for prioritizing pedestrians and creating a nice streetscape, but what's your solution? Where do these businesses keep their dumpsters, if not on Sansom? We're a very dense city. They have to go somewhere.

[1487]

Originally Posted by br323206

I mean, I am all for prioritizing pedestrians and creating a nice streetscape, but what's your solution? Where do these businesses keep their dumpsters, if not on Sansom? We're a very dense city. They have to go somewhere.

agreed, there is no perfects solution and the dumpsters surely can't be on chestnut.

[Cro Burnham]

Originally Posted by br323206

I mean, I am all for prioritizing pedestrians and creating a nice streetscape, but what's your solution? Where do these businesses keep their dumpsters, if not on Sansom? We're a very dense city. They have to go somewhere.

How does NY manage not to make every other cross street a dumpster parking lot? Surely the generate much more garabage their, yet it is less evident on the downtown streets.

Somehow, I think there must be better solutions in practice in several other (cleaner) cities, but we are so used to the notion of using our side streets - or even legit streets like Sansom Street - as fetid dumpster alleys that we can't imagine otherwise. Strange.