PHILADELPHIA | Highrise Development Thread IX

[summersm343]

Originally Posted by 1487

Temple has decided it would rather have green space in the interim vs buildings they don't want on their campus. I don't think Temple brought anything near Broad and Jefferson- they already owned buildings there. Don't dont need approval to tear down buildings they own.

There were a strip of rowhomes next to Rite Aid which included Zavelles Books, a chinese place, among others. They bought these and demolished them.

[1487]

Originally Posted by summersm343

There were a strip of rowhomes next to Rite Aid which included Zavelles Books, a chinese place, among others. They bought these and demolished them.

oh those, I do remember now. Yeah that was the plan from the time the news leaked out. They have made an effort to increase open space on and around the campus for better or worse.

[summersm343]

Originally Posted by 1487

oh those, I do remember now. Yeah that was the plan from the time the news leaked out. They have made an effort to increase open space on and around the campus for better or worse.

Well that's absolutely absurd. These are not landscaped parks and greenspace - these are empty grass lots. There should be no empty grass lots fronting Broad Street, one of our city's main thoroughfares.

[br323206]

Originally Posted by shadowbat2

I want to make something clear: I have no problem with billboards on Market east or other commercial areas, but big advertisements (even if its just banners) on government buildings right next to City Hall will give the impression that Philadelphia is so poor and desperate for cash that they are willing to give up anything for a quick buck. None of the cities mentioned above have ads next to their seats of government (at least to my knowledge)....

No, but for a decade the Eiffel Tower was a giant billboard

[cubanChris]

Welp, looks like it finally happened. If only a modestly at first.

Vanguard returns to Philadelphia, starting with a staff of 20

After a hiatus of more than 15 years, Vanguard, the $3.8 trillion mutual-fund company, is returning to Philadelphia, with an office in University City.

http://www.philly.com/philly/business/Va...r-city--starting-with-a-staff-of-20.html

[summersm343]

^^This is huge, and only has huge growth potential written all over it. 5 years from now we'll be talking about Vanguard taking up majority space in an office tower at Schuylkill Yards or in Cira II.

Remember a few months ago when I said Vanguard was looking for space in Philadelphia and people said it wasn't happening? Haha. Told ya so

Remember a few months ago when I said there will be a 3 tower development at 19th and Arch spurred by a third Comcast tower? Yep... Just wait

[PhilliesPhan]

Originally Posted by cubanChris

Welp, looks like it finally happened. If only a modestly at first.

Vanguard returns to Philadelphia, starting with a staff of 20

After a hiatus of more than 15 years, Vanguard, the $3.8 trillion mutual-fund company, is returning to Philadelphia, with an office in University City.

http://www.philly.com/philly/business/Va...r-city--starting-with-a-staff-of-20.html

This is AMAZING news!

I will be a senior Finance major at Temple next semester, and Vanguard is a company that I am interested in; however, the Malvern location is a HUGE turn-off. Many other people that I know at Temple feel the exact same way. Hopefully a much larger move will occur in the near future. Honestly, it was inevitable. Philly has so much going for it right now: the 2nd largest downtown population in the US, a large college student population (Vanguard recruits heavily from colleges), an excellent public transportation system (when it's actually running), and top-of-the-line amenities. Not many of we younger Millennials coming out of college are ready to take jobs/move to the suburbs yet, so Vanguard is making a wise choice. The talent is clearly in Philadelphia!

[Kidphilly]

It sound like this will be a technology play for them and about 20K sq ft A good thing but lets get ahead of ourselves with 9K employees moving DT in 5 years

The biggest news will be the Apple east in the innovation center around 30th street

it is coming....

[jsbrook]

Originally Posted by summersm343

^^This is huge, and only has huge growth potential written all over it. 5 years from now we'll be talking about Vanguard taking up majority space in an office tower at Schuylkill Yards or in Cira II.

Remember a few months ago when I said Vanguard was looking for space in Philadelphia and people said it wasn't happening? Haha. Told ya so

Remember a few months ago when I said there will be a 3 tower development at 19th and Arch spurred by a third Comcast tower? Yep... Just wait

Staff of 20 isn't much, but hopefully a good start, signaling they are dipping their foot in the bathtub of what will soon be a real immersion. Do you have some inside intel?

[iheartphilly]

Originally Posted by PhilliesPhan

This is AMAZING news!

I will be a senior Finance major at Temple next semester, and Vanguard is a company that I am interested in; however, the Malvern location is a HUGE turn-off. Many other people that I know at Temple feel the exact same way. Hopefully a much larger move will occur in the near future. Honestly, it was inevitable. Philly has so much going for it right now: the 2nd largest downtown population in the US, a large college student population (Vanguard recruits heavily from colleges), an excellent public transportation system (when it's actually running), and top-of-the-line amenities. Not many of we younger Millennials coming out of college are ready to take jobs/move to the suburbs yet, so Vanguard is making a wise choice. The talent is clearly in Philadelphia!

Most of us on this forum put it on the wish list. And, guess what, someone was paying attention...LOL. Seriously, I wouldn't understate the importance of it. Things like this tend to have a rippling effect. Vanguard is the 800 lbs elephant in the financial room. Believe me. It will not go unnoticed.

[summersm343]

Originally Posted by Kidphilly

It sound like this will be a technology play for them and about 20K sq ft A good thing but lets get ahead of ourselves with 9K employees moving DT in 5 years

The biggest news will be the Apple east in the innovation center around 30th street

it is coming....

Didn't say the whole of Vanguard would move down from Malvern. That will likely never happen, at least no within the next 20+ years. They will start off with this innovation center with the hope of 500+ in 5 years. They're also hoping for a satellite office at some point to go along with the innovation office, with the hope to house at least 200 at first of employees and new recruits who want to be in the city, then grow from there with demand.

Apple opening up shop in Philly would be huge

Originally Posted by jsbrook

Staff of 20 isn't much, but hopefully a good start, signaling they are dipping their foot in the bathtub of what will soon be a real immersion. Do you have some inside intel?

The office will open with 20 but grow to 100 within a year. I hear they're shooting for at least 500 in 5 years should things go well - this would be just for the innovation/tech office too. A separate satellite office is on the horizon too for employees and new recruits who want to live in the city - the idea is 200 to start then grow from there depending on demand.

[iheartphilly]

Originally Posted by summersm343

Didn't say the whole of Vanguard would move down from Malvern. That will likely never happen, at least no within the next 20+ years. They will start off with this innovation center with the hope of 500+ in 5 years. They're also hoping for a satellite office at some point to go along with the innovation office, with the hope to house at least 200 at first of employees and new recruits who want to be in the city, then grow from there with demand.

Apple opening up shop in Philly would be huge



The office will open with 20 but grow to 100 within a year. I hear they're shooting for at least 500 in 5 years should things go well - this would be just for the innovation/tech office too. A separate satellite office is on the horizon too for employees and new recruits who want to live in the city - the idea is 200 to start then grow from there depending on demand.

Exactly. With technology today like video conference, video calls, cloud computing, you can work anywhere and still feel connected to your employees and/or bosses and the intellectual property that is produced.

[Skyscraper.Phanatic]

Investors poured $236 billion into the $3.2 trillion AUM Vanguard last year. If only they paid their employees more; I would go work for them. LOw fees to investors = low wages to most employees as compared to indutry averages

[summersm343]

Vanguard Group opening innovation center in Philadelphia

Investment management giant Vanguard Group said it has created a new entrepreneurial operation that will open next year in Philadelphia and will serve as a catalyst for new ideas and products.

While still in the early stages of development, the Vanguard Innovation Center will consist of 20 employees focused on creating innovative products for clients.

“It will take a look at how we should focus our efforts with innovation," spokeswoman Arianna Stefanoni Sherlock said. "We will also be working with our partners if something comes up that could help our business.”

Sherlock said Malvern-based Vanguard has not picked an exact location for the innovation center but has narrowed down its choices to two or three spaces situated between Center City and University City. The sites have access to both the business community and colleges and universities such as Drexel University and University of Pennsylvania, which are both creating innovation hubs.

She said the company is looking for about 20,000 square feet of space that could ultimately house 100 employees. It will open sometime in the second quarter of 2017.

Vanguard could have chosen to open such a facility in Silicon Valley or another tech hub outside the region but Sherlock said CEO William McNabb was committed to Philadelphia.

http://www.bizjournals.com/philadelphia/...innovation-center-philly-invest-cre.html

[1487]

lets hope they expand that office in the near future. 20 employees won't even register.

[summersm343]

Originally Posted by 1487

lets hope they expand that office in the near future. 20 employees won't even register.

They're starting with 20 but it will be 100 within a year.

[Knight Hospitaller]

^ Shall we tell them to send the 20 back?

[sayitaintso]

http://philly.curbed.com/2016/11/3/13507850/1324-north-broad-street-tower-renderings

[1487]

Originally Posted by Knight Hospitaller

^ Shall we tell them to send the 20 back?

Vanguard is huge so 20 people is peanuts. The name is exciting for Philly but they aren't exactly making a big bet on Philly with a 20 person office. They said they will have space to potentially get to 100- they didn't say they are hiring 100.

[hammersklavier]

Originally Posted by sayitaintso

http://philly.curbed.com/2016/11/3/13507850/1324-north-broad-street-tower-renderings

We have a thread for that! http://forum.skyscraperpage.com/showthread.php?t=225493

Summersm is fast