PHILADELPHIA | Highrise Development Thread IX

[looper121]

http://www.philly.com/philly/business/20...ylkill_revived__with_tweaks__by_PMC.html

[BenKatzPhillytoParis]

Originally Posted by Flyers2001

I second this, he seems personally invested in his post about LPT.

Yeah, it appear he does work there. But his posts are only about denying there is any plan without any nuance. With lots of similar information circulating from a variety of sources, in addition to the fact that the developer for Comcast would not likely acquire a lot of land at high cost next to their main client without any notions about what to do with it, his denials simply seem like attempts to tamp down news before a plan is finalized. Which is legit. Just saying—just because he says there is no plan does not mean there are not notions about what to do with it that correspond to the information many others have heard.

[Londonee]

Originally Posted by looper121

http://www.philly.com/philly/business/20...ylkill_revived__with_tweaks__by_PMC.html

These —, Philly Specials. No surprise here.

[Nightman]

Originally Posted by Londonee

These —, Philly Specials. No surprise here.

I take it you love old surface parking lots? I will take whatever we can get on this one.

[summersm343]

I see nothing wrong with the design of these. They are very nicely designed, glass residential towers.

[thisisforreal]

Originally Posted by summersm343

I have tried to get the threads for 1324 N. Broad, 2012 Chestnut, and Cathedral Campus Towers tagged under Philadelphia Projects and Construction to no avail.

If anybody else wants to try...

I sent some messages and they've been added. One of the Canadian mods did it.

[City Wide]

Originally Posted by Nightman

I take it you love old surface parking lots? I will take whatever we can get on this one.

I'd be ok with the status quo until a really special concept comes along. This is not just another 'site', as riverfront property is limited, and river front sites that allow high rise construction are even more limited. Give the City something really unique. (just in case PMC wants to know what I think!)

[Milksteak]

Originally Posted by City Wide

I'd be ok with the status quo until a really special concept came along. This is not just another 'site', as riverfront property is limited, and river front sites that allow high rise construction are even more limited. Give the City something really unique. (just in case PMC wants to know what I think!)

They look like two upright gaming consoles to me.

I really liked the original proposal, but will accept two large playstations if I have to.

[summersm343]

Originally Posted by thisisforreal

I sent some messages and they've been added. One of the Canadian mods did it.

Thank you

[PHL10]

Originally Posted by Londonee

These —, Philly Specials. No surprise here.

Yep, pretty bad.

[summersm343]

Crucial Revenue Stream For East Market Projects Called Into Question

A change in the approval process for signage on East Market Street could mean serious upheaval in the development of a crucial commercial corridor.

The process for permitting advertising signs in the area will be transferred from the City of Philadelphia to PennDot by the Federal Highway Administration. Projects that haven't yet put advertisers' signs up will have to resubmit their applications, according to the Philadelphia Buisness Journal.

Affected buildings include the massive East Market mixed-use development, along with the nearby Lit Brothers building and the forthcoming Galleria renovation.

"We really need the income [from the signs] to recover the investment we make," Mark Merlini of Brickstone Realty, which is developing the Lit Brothers building, told the PBJ.

The transfer of permit issuance was due to concerns the FHA had over sign size and driver safety, and the resulting transition has multiple parties invested in the success of the East Market corridor anxious.

“It’s important that we deal with this quickly and give clarity to developers,” Philadelphia city managing director Brian Abernathy said. “We’re not going to get everything we want and we’re going to need to figure out what the best resolution is.”

https://www.bisnow.com/philadelphia/news...arket-sign-revenue-stream-question-67507

[jsbrook]

Grr...as I recall, PennDot only took control because the City was too incompetent to get it the info it needed to comply with federal funding requirements.

Originally Posted by summersm343

Crucial Revenue Stream For East Market Projects Called Into Question



https://www.bisnow.com/philadelphia/news...arket-sign-revenue-stream-question-67507

[Philamigo]

Just a general comment (forgive me ... I am just a newbie here): it's an exciting time to be living in Philly, with all the construction and all.

I live in University City and I can't believe all the changes that has been taking place.

[br323206]

Originally Posted by summersm343

Crucial Revenue Stream For East Market Projects Called Into Question



https://www.bisnow.com/philadelphia/news...arket-sign-revenue-stream-question-67507

Leslie Richards is smart, and she has a background in planning. Let's hope that she makes it a priority to get this through.

[summersm343]

More jobs, more real estate development in University City: Report

University City continues to be a focus of development activity and has 22 million square feet of proposed projects planned for the Philadelphia neighborhood that is already undergoing a building boom.

In its annual analysis of the how the neighborhood is faring, University City District's latest report paints a portrait of an area of Philadelphia that is not only thriving on an array of fronts but facing five significant “economy-altering bets” that will forever change it and have repercussions for the region.

The five bets: The University of Pennsylvania’s Pennovation Center; Brandywine Realty Trust and Drexel University’s Schuylkill Yards; the University City Science Center and Wexford Science & Technology’s uCity Square development; the roll out of a master plan by Amtrak to re-imagine and develop areas it owns around 30th Street Station; and the continued investment by Children’s Hospital of Philadelphia, University of the Sciences and the University of Pennsylvania Health System and other large stakeholders.

Each of those projects will add millions of square feet of new office, lab, residential, educational and other spaces once built out over the ensuing years and solidify University City as a hub of research and innovation. That in itself will be a economic driver for the region.

“It seems that every institution and major developer is thinking on a transformative scale,” said Matt Bergheiser, president of University City District. “The individual projects are all amazing and transformative on their own but they are all happening at the same time.”

Among other highlights from the annual report:

-More than 2.6 million square feet of new development totaling more than $1.3 billion was completed in the past year

-A total of 77,000 jobs were concentrated in the neighborhood, increasing from a record-setting 75,000 jobs tallied last year

-The inventory of hotel rooms increased by 44 percent with the addition of 315 new rooms

-Office vacancy was less than 5 percent

-The median value of a house rose by 6 percent to a new record of $334,500

-Restaurants and retailers continued to set up shop in the neighborhood. The number of dining establishments rose by 24 percent since 2009 to 268 and a total of 152 retailers occupy space in the neighborhood.

As a result of the increase in restaurant and retail activity as well as more mixed-use development, University City is starting to become more of a 24-hour neighborhood, Bergheiser said.

http://www.bizjournals.com/philadelphia/...y-district-pennovation-ucity-square.html

[thisisforreal]

22,000,000 sq ft is almost 4/5ths of a square mile. Or 200 hectacres if that's your currency. That's ridiculous.

[Philly-Drew]

Originally Posted by thisisforreal

22,000,000 sq ft is almost 4/5ths of a square mile. Or 200 hectacres if that's your currency. That's ridiculous.

Put another way, it's kind of like 8 blocks by 10 blocks.

[thisisforreal]

Here's the link to the full state of university city annual report.

[summersm343]

Takeaways from the State of University City 2016

http://planphilly.com/articles/2016/11/17/takeaways-from-the-state-of-university-city-2016

[Philamigo]

University City is second only to Center City itself as the economic engine of Philadelphia. It is booming!

With all the new construction and new businesses, my only hope is the charming Victorian-era homes and shops are protected.

What a shame a c.1850 Italianate mansion at 40th and Pine was demolished.