PHILADELPHIA | Lowrise/General Developments Thread

[summersm343]

Design Committee asks PHA to improve design for new headquarters but supports Cobbs Creek, East Market, and Winchester Park projects

http://planphilly.com/articles/2016/09/0...east-market-and-winchester-park-projects

[Larry King]

Design committee seems really cranky lately.

[Insoluble]

Originally Posted by summersm343

Design Committee asks PHA to improve design for new headquarters but supports Cobbs Creek, East Market, and Winchester Park projects

http://planphilly.com/articles/2016/09/0...east-market-and-winchester-park-projects

This makes me wish that the Design Committee had more teeth. They obviously get it, the PHA proposal is horrid. Aside from the huge controversy surrounding their proposal for the Sharswood neighborhood, the design of this office is the epitome of anti-urban — design. Sadly, given the ineptitude of the PHA, we'll likely see them come back for their follow up meeting with an equally unacceptable design. They just don't seem to get it.

Originally Posted by Larry King

Design committee seems really cranky lately.

I would be too if I were having — design like that pushed at me to review. The audacity of the PHA lawyer to try to pressure them to wave this through just because the PHA was too incompetent to plan ahead and create a reasonable timeline for the transition would have pissed me off too. Sorry no, I'm not going to bend over and do my job the wrong way just because you screwed up.

[1487]

Interesting stats posted by the city controller. Slight dip in total number of jobs from June 2016 to July 2016 but still growth of 15k jobs over same period last year. Also a huge number of tax abated properties will be losing their abatements over next 5 years.

http://www.philadelphiacontroller.org/publications/fpau/EconomicReport_July2016.pdf

[Milksteak]

Originally Posted by 1487

Interesting stats posted by the city controller. Slight dip in total number of jobs from June 2016 to July 2016 but still growth of 15k jobs over same period last year. Also a huge number of tax abated properties will be losing their abatements over next 5 years.

http://www.philadelphiacontroller.org/publications/fpau/EconomicReport_July2016.pdf

It's also interesting to see 3 of the top 10 zip codes with the most sales are in the Northeast (Fox Chase, Burholme, Oxford Circle, Castor, Mayfair, Holmesburg).

[3rd&Brown]

Originally Posted by Milksteak

It's also interesting to see 3 of the top 10 zip codes with the most sales are in the Northeast (Fox Chase, Burholme, Oxford Circle, Castor, Mayfair, Holmesburg).

I've been paying attention to the MLS a lot lately, out of curiosity.

The fastest velocity (i.e. fewest days on market) right now seems to be in Port Richmond and the Lower Northeast, specifically Mayfair.

If a listing lasts more than 7 days in Mayfair something is wrong with it. It's incredible how fast houses are going under contract there.

[Scottydont]

Originally Posted by 3rd&Brown

I've been paying attention to the MLS a lot lately, out of curiosity.

The fastest velocity (i.e. fewest days on market) right now seems to be in Port Richmond and the Lower Northeast, specifically Mayfair.

If a listing lasts more than 7 days in Mayfair something is wrong with it. It's incredible how fast houses are going under contract there.

I've heard that Port Richmond is getting some of the bleed off from NoLibs and Fishtown. I thought though the Mayfair and Lower Northeast were kinda less then great these days.

[1487]

Originally Posted by Scottydont

I've heard that Port Richmond is getting some of the bleed off from NoLibs and Fishtown. I thought though the Mayfair and Lower Northeast were kinda less then great these days.

people who used to live somewhere decades back can always say things were way better. That area is still a target for working class people trying to move to relatively stable and relatively safe part of the city. And it's cheaper than many other parts of the city with similarly sized houses.

[Larry King]

Originally Posted by 3rd&Brown

I've been paying attention to the MLS a lot lately, out of curiosity.

The fastest velocity (i.e. fewest days on market) right now seems to be in Port Richmond and the Lower Northeast, specifically Mayfair.

If a listing lasts more than 7 days in Mayfair something is wrong with it. It's incredible how fast houses are going under contract there.

you think it's mostly investors or owner-occupants?

[Insoluble]

Originally Posted by 1487

Interesting stats posted by the city controller. Slight dip in total number of jobs from June 2016 to July 2016 but still growth of 15k jobs over same period last year. Also a huge number of tax abated properties will be losing their abatements over next 5 years.

http://www.philadelphiacontroller.org/publications/fpau/EconomicReport_July2016.pdf

Thanks for linking this! The employment growth from July of 2015 to July of 2016 is pretty big in comparison to the past few years (about 50% higher than the growth we've typically been seeing July to July). This is definitely good news! Employment growth in the city has been solid for the past two years, and looks to be even better this year. This will probably be the third straight year in a row in which the city adds more jobs than population.

[3rd&Brown]

Originally Posted by 1487

people who used to live somewhere decades back can always say things were way better. That area is still a target for working class people trying to move to relatively stable and relatively safe part of the city. And it's cheaper than many other parts of the city with similarly sized houses.

Exactly.

I never said days on market equates to "great" or even "cool". It's just an observation.

My guess is that most of Mayfair is still in good shape and it is the closest in neighborhood along the river that isn't "cool" but offers a stable housing stock, decent schools, and a close in location. I also think that perhaps, and this is just a theory, the type of people (i.e. white middle or working class) who always flee to the next neighborhood out have stopped doing so, because rather than seeing decay spreading outward, they're seeing the the opposite for the first time in a long time...renewal/gentrification, and it's coming their way. Mayfair may never be cool but I think it is no longer under imminent threat, perceived or otherwise, from disinvestment in the city.

In any case, it's good news all around.

[3rd&Brown]

Originally Posted by Larry King

you think it's mostly investors or owner-occupants?

what I see going under contract quickly include nicer homes in the $140-$170K range (expensive for Mayfair) so I doubt those houses are selling to investors.

I think what we're seeing (as alluded to in my other post), especially now that Port Richmond is getting "cool" is the sudden realization among the white working class folks who always tried to stay one step ahead of what was perceived as imminent decay, is the realization that the spread of that decay has stopped. Or at least there is a new Maginot line of sorts of blight that is being pushed south as opposed to north. For the longest time, my perception was that there was a perception among those types that anything below Castor Avenue was doomed, imminently. I think the reality is that not only is it not Castor Avenue, but it might not even be Harbison Avenue. I think we'll see Port Richmond continue to strengthen, hop west of Aramingo and fill in along the El and Tacony push westward as well (strengthening what was what I thought was the weakest part of Mayfair , "East Mayfair") and stabalizing the core of what is traditionally thought of as Mayfair, which I believe locals refer to as "West Mayfair", i.e. between Frankford Avenue and the Boulevard.

My point being, with the eastern ends of Port Richmond and Tacony firmly grounded at this point, and newly pushing west, the fleeing from the core of Mayfair has probably stopped, and might even push back down into what is considered Wissinoming (and among the old school, long ago "surrendered"). Frankford for a time will be a donut of decay but even there there are signs of life...so I think everyone can breathe a collective sigh of relief, frankly.

Good news all around.

[Jawnadelphia]

So 1760 Market is renovating its exterior and lobby, much like 1635 Market and 1601 Market, and 1818 Market is currently doing -- all good things. But -- what ever happened to the major additions/renovations (restaurants!) that were supposed to occur at 1700 Market Street ???

http://www.phillymag.com/property/2016/01/08/1700-market-shorenstein/

http://www.philly.com/philly/blogs/the-i...eans-new-restaurants-at-1700-Market.html

"A timeline was not available, but it's believed that an opening is targeted before the Democratic National Convention in 2016."

-----obviously that did not occur. Anyone have any insight?

Here's the aforementioned 1760 Market:

[IMG]Untitled by screennameLLC, on Flickr[/IMG]

[Larry King]

Originally Posted by Larry King

Has anyone heard anything lately about pha's plans for the old spring garden school on 12 between parrish and odgen??

I guess it went to zoning in 2014 but the building is still empty, meanwhile PHA has their hands full in sharswood.

It's a gem.

http://philly.curbed.com/2014/3/7/101350...-long-vacant-spring-garden-public-school

http://www.onlyinyourstate.com/pennsylvania/pa-spring-garden/

http://www.philly.com/philly/business/re...able_Spring_Garden_School.html?mobi=true

And my question was answered. Glad the building is being preserved

[boxbot]

Sorry about the repost but I don't know if the DL is lowrise or highrise:


My friend came across these balusters from in an architectural salvage shop. The owner states they're from the Divine Lorraine. Does anyone know any contractors working on the site? Maybe they could be brought home.

[1487]

^contractor is Domus. Not that I know anyone there. I guess you could call them.

[1487]

if someone can access the article details they can tell us the story behind the shrinking 2400 market

http://www.bizjournals.com/philadelphia/...0-market-tower-pmc-adler-apartments.html

[Boku]

The developer switched course when conversations with potential office users got to a point that showed there was enough demand in the city to warrant new office space, said Jonathan Stavin, executive vice president at PMC Property.

“The five-story addition of 300,000 square feet of office space is one of the larger new office projects outside of the Comcast towers in Philadelphia in decades,” Stavin said. “… If we were not successful luring an anchor office tenant, we could change direction and build apartments at 2400 Market.”

Ditching the apartment doesn’t mean PMC is skittish on the multifamily market in Philadelphia. The Philadelphia company has more than 1,100 apartments in various stages of development in the city, Stavin said.

“We remain extremely bullish on Philadelphia,” he said.

[summersm343]

Originally Posted by Boku

The developer switched course when conversations with potential office users got to a point that showed there was enough demand in the city to warrant new office space, said Jonathan Stavin, executive vice president at PMC Property.

“The five-story addition of 300,000 square feet of office space is one of the larger new office projects outside of the Comcast towers in Philadelphia in decades,” Stavin said. “… If we were not successful luring an anchor office tenant, we could change direction and build apartments at 2400 Market.”

Ditching the apartment doesn’t mean PMC is skittish on the multifamily market in Philadelphia. The Philadelphia company has more than 1,100 apartments in various stages of development in the city, Stavin said.

“We remain extremely bullish on Philadelphia,” he said.

Is that all it says?

[Boku]

Originally Posted by summersm343

Is that all it says?

No, just thought it was the most pertinent to his question. Here's the whole thing:

When a partnership involving Lubert-Adler and PMC Property Group bought the Marketplace Design Center in April 2014, there were big plans for the complex at 2400 Market St. in Philadelphia.

It was going to be mixed-use.

As of late May when the partnership was headed to the city’s design review committee, it envisioned a 19-story extension on top of the existing five-story structure. The first floor, totaling 131,407 square feet, was to be dedicated to office and retail space while floors two through seven would be office space totaling 344,332 square feet. A residential portion totaling 343,258 square feet with 321 apartments would go in the new tower.

Things had changed and that became apparent on Monday when the partnership along with state and city officials announced Aramark Corp. would relocate its headquarters into 2400 Market. When a rendering of the building was unveiled at that announcement, the project had been totally redesigned.

Gone was the 19-story extension. Gone were the 321 apartments.

Instead, the development team will add five new floors totaling 300,000 square feet to the existing four-story building. Once that expansion is completed, the structure will total 530,000 square feet. All of it office space.

The change surprised those who have followed the project, and even the city’s planning department was caught off guard by the dramatic change.

Going in a different direction can be the nature of real estate deals and development.

The developer switched course when conversations with potential office users got to a point that showed there was enough demand in the city to warrant new office space, said Jonathan Stavin, executive vice president at PMC Property.

“The five-story addition of 300,000 square feet of office space is one of the larger new office projects outside of the Comcast towers in Philadelphia in decades,” Stavin said. “… If we were not successful luring an anchor office tenant, we could change direction and build apartments at 2400 Market.”

Ditching the apartment doesn’t mean PMC is skittish on the multifamily market in Philadelphia. The Philadelphia company has more than 1,100 apartments in various stages of development in the city, Stavin said.

“We remain extremely bullish on Philadelphia,” he said.

Aramark will occupy the top five floors totaling 300,000 square feet with the remainder of the space — 225,000 square feet— on the second through fourth floors remains available for lease.

As presented, the new version will have to go through the design review process and nothing has been submitted at this point.