PHILADELPHIA | Highrise Development Thread IX - Page 609

1487 · #**12161** Posted **Sep 14, 2016, 12:08 PM**

Quote:

Originally Posted by kingtut

No doubt , states like Georgia , Texas and Florida are known for poaching companies from the N.E. . They are pretty shameless and bold , it's extremely competitive in regards to luring business's to relocate . What do you do ?

its funny that southern states that have such supposedly superior tax structures still make concerted efforts to lure firms from the North. One would think the flow of companies would be natural- it shows there is a lot more to consider outside of tax rates when choosing a location.

summersm343 · #**12162** Posted **Sep 14, 2016, 1:07 PM**

Toll Bros. erect temporary barricades for Jewelers Row construction prep

http://www.philly.com/philly/business/real_estate/commercial/soil-boring.html?mobi=true

Milksteak · #**12163** Posted **Sep 14, 2016, 1:07 PM**

http://www.philly.com/philly/business/real_estate/commercial/soil-boring.html

Wow they are serious about wrecking Jewelers Row...

1487 · #**12164** Posted **Sep 14, 2016, 1:38 PM**

http://www.philly.com/philly/business/aramark-market-east-girard-estate-jll.html

Big hole in MArket East office market, but the good part is it sounds like owners will be upgrading 1101 Market to make it more attractive. I wish that would include exterior changes, but I doubt that its the cards.

1487 · #**12165** Posted **Sep 14, 2016, 7:48 PM**

I think this is good news on the apt absorption front.

http://philly.curbed.com/2016/9/14/12903984/1919-market-apartments-half-leased

jsbrook · #**12166** Posted **Sep 14, 2016, 8:18 PM**

Quote:

Originally Posted by 1487

I think this is good news on the apt absorption front.

http://philly.curbed.com/2016/9/14/12903984/1919-market-apartments-half-leased

Rents are not so bad. I guess people still don't really want to live on Market yet (and I don't blame that). I'm sure rents will go up more as the area becomes more mixed use (helped if those restaurants that are suppose to launch further east on Market come to pass). Rents at 1500 Locust are $3,500 for some 1 bedroom and some 2 bedrooms are nearly $4,500, and I bet the building and amenities are not nearly so nice as this. It's not that great. I lived there back when I rented till summer of 2012.

allovertown · #**12167** Posted **Sep 14, 2016, 9:42 PM**

Quote:

Originally Posted by 1487

http://www.philly.com/philly/business/aramark-market-east-girard-estate-jll.html

Big hole in MArket East office market, but the good part is it sounds like owners will be upgrading 1101 Market to make it more attractive. I wish that would include exterior changes, but I doubt that its the cards.

Exterior changes? I wouldn't mind a tidying up, but I actually think the Aramark Building is a handsome building. Never really thought much of it but seeing all those shots of it as Market East went up really helped my appreciation of it. It's a thoughtfully designed building that really looks good. I hope the exterior doesn't change too much.

atlwarrior · #**12168** Posted **Sep 15, 2016, 11:16 AM**

Quote:

Originally Posted by 1487

its funny that southern states that have such supposedly superior tax structures still make concerted efforts to lure firms from the North. One would think the flow of companies would be natural- it shows there is a lot more to consider outside of tax rates when choosing a location.

Oh thats classy to blame the South for corporate relocations. At the end of the day its left up to that company executives to pull the trigger.

1487 · #**12169** Posted **Sep 15, 2016, 11:52 AM**

Quote:

Originally Posted by jsbrook

Rents are not so bad. I guess people still don't really want to live on Market yet (and I don't blame that). I'm sure rents will go up more as the area becomes more mixed use (helped if those restaurants that are suppose to launch further east on Market come to pass). Rents at 1500 Locust are $3,500 for some 1 bedroom and some 2 bedrooms are nearly $4,500, and I bet the building and amenities are not nearly so nice as this. It's not that great. I lived there back when I rented till summer of 2012.

I dont think studios starting at $1700 and 2Brs starting at $3500 qualifies as cheap rent for CC. Those are starting prices, not average prices.

1487 · #**12170** Posted **Sep 15, 2016, 11:53 AM**

Quote:

Originally Posted by atlwarrior

Oh thats classy to blame the South for corporate relocations. At the end of the day its left up to that company executives to pull the trigger.

I didn't blame the South for anything. I was pointing out that contrary to what some claim, even cities and states with lower corporate tax rates actually put together packages and go after companies to lure them in. A few days ago someone indicated only places like Philly (or PA/NJ) resorted to such desperate tactics because of the tax climate up here.

jsbrook · #**12171** Posted **Sep 15, 2016, 12:25 PM**

Quote:

Originally Posted by 1487

I dont think studios starting at $1700 and 2Brs starting at $3500 qualifies as cheap rent for CC. Those are starting prices, not average prices.

It is not cheap. I'm just not sure whether it's at the top of the market. It will be interesting to see what rents are at the Beacon when it's completed.

Larry King · #**12172** Posted **Sep 15, 2016, 1:07 PM**

Quote:

Originally Posted by jsbrook

It is not cheap. I'm just not sure whether it's at the top of the market. It will be interesting to see what rents are at the Beacon when it's completed.

I'm surprised they're getting it, do not understand the appeal of living at 20th and market

Milksteak · #**12173** Posted **Sep 15, 2016, 2:29 PM**

http://www.philly.com/philly/opinion/201..._a_welcome_addition_to_Jewelers_Row.html

A differing opinion in regards to the Toll bros. Jewelers Row drama...

jsbrook · #**12174** Posted **Sep 15, 2016, 3:15 PM**

Quote:

Originally Posted by Larry King

I'm surprised they're getting it, do not understand the appeal of living at 20th and market

Me neither entirely. But it is great amenities and views and rent does currently seem somewhat discounted based on location. Plus only a block from blocks of Chestnut that continue to improve. Also close to the Sterling's misconduct and the Logan, eventual CITC and in close proximity to work work many people. The appeal of the area will continue to grow.

jsbrook · #**12175** Posted **Sep 15, 2016, 3:18 PM**

Quote:

Originally Posted by Milksteak

http://www.philly.com/philly/opinion/201..._a_welcome_addition_to_Jewelers_Row.html

A differing opinion in regards to the Toll bros. Jewelers Row drama...

As someone pointed out, authored by a BUILDING owner (not a business owner) who is selling to Toll at huge profit.

PhilliesPhan · #**12176** Posted **Sep 15, 2016, 3:23 PM**

Quote:

Originally Posted by Milksteak

http://www.philly.com/philly/opinion/201..._a_welcome_addition_to_Jewelers_Row.html

A differing opinion in regards to the Toll bros. Jewelers Row drama...

Funniest thing I've read today! I actually thought it was written by someone from Toll Brothers until I read the name at the bottom of the article!

Londonee · #**12177** Posted **Sep 15, 2016, 3:39 PM**

Quote:

Originally Posted by jsbrook

Me neither entirely. But it is great amenities and views and rent does currently seem somewhat discounted based on location. Plus only a block from blocks of Chestnut that continue to improve. Also close to the Sterling's misconduct and the Logan, eventual CITC and in close proximity to work work many people. The appeal of the area will continue to grow.

You mean other than a 5 minute walk to Rittenhouse Square or 50% of the city's offices?

Not to mention few minute walks to both 30th street and Suburban Stations, River trail access, plus the Parkway, Logan Circle, Sister Cities. Within 2 blocks there's a trader joes, a wine store, and a CVS - which, for my family, would account for about 96% of our daily needs - plus dozens of restaurants, pubs and coffee shops all within a few blocks.

Other than that, terrible location.

1487 · #**12178** Posted **Sep 15, 2016, 4:04 PM**

Quote:

Originally Posted by jsbrook

Me neither entirely. But it is great amenities and views and rent does currently seem somewhat discounted based on location. Plus only a block from blocks of Chestnut that continue to improve. Also close to the Sterling's misconduct and the Logan, eventual CITC and in close proximity to work work many people. The appeal of the area will continue to grow.

yeah, the appeal is you are a 5 min walk from all the major office buildings on west market. It's pretty clear to me. Imagine a 10 min commute from an amenities rich building. You are also walking distance from 30th street.

jsbrook · #**12179** Posted **Sep 15, 2016, 4:04 PM**

Quote:

Originally Posted by Londonee

You mean other than a 5 minute walk to Rittenhouse Square or 50% of the city's offices?

Not to mention few minute walks to both 30th street and Suburban Stations, River trail access, plus the Parkway, Logan Circle, Sister Cities. Within 2 blocks there's a trader joes, a wine store, and a CVS - which, for my family, would account for about 96% of our daily needs - plus dozens of restaurants, pubs and coffee shops all within a few blocks.

Other than that, terrible location.

I'm talking about the character of the block itself. The proximity is good as I already said.

1487 · #**12180** Posted **Sep 15, 2016, 4:06 PM**

Quote:

Originally Posted by jsbrook

I'm talking about the character of the block itself. The proximity is good as I already said.

if someone lives on the 20th floor does it really matter? Im not sure how much of the character of the block you feel from an elevated position. It's definitely not a cozy residential area with quiet tree lined streets but there are already units at 2040 market, 2121 market and the Murano condos nearby.