PHILADELPHIA | Highrise Development Thread IX

[City Wide]

Originally Posted by Knight Hospitaller

^We'll never be a world class city without a Bojangles.

Only one? Like wise with Wendy's, why do they need to move? Can't they open a new location. We need multi locations of these places. If fact, since I'm getting hungry now I think I'll go out and treat myself, just hope I don't have to go too far.

[jsbrook]

Originally Posted by City Wide

Only one? Like wise with Wendy's, why do they need to move? Can't they open a new location. We need multi locations of these places. If fact, since I'm getting hungry now I think I'll go out and treat myself, just hope I don't have to go too far.

I was joking/intentionally fueling the fire. But I'm one of the people who thinks the 1500 block of Chestnut is due for an upgrade. Particularly with the W coming, I'd love to see a great, non-chain restaurant come that caters to the late night market. With Little Pete's leaving, there are few such options in the Rittenhouse area. The Pestronks may be doing it further down the block in the old dollar store space. But I'm not exactly sure what kind of restaurant/bar that will be or what its hours will be.

[summersm343]

Center City from South Philadelphia by Brian Kushner, on Flickr

[EastSideHBG]

/\
That's a neat angle and it has always reminded me of an LA of the east.

[jrdizzy]

I was just at the Ikea around the same time that photo was taken. I was about to post a pick from the Walt Whitman bridge from around the same angle. Only thing is that mine was taken by my 10 year old with an Iphone from a moving car. I think yours turned out better.

[summersm343]

Big sale of land between Old City and NoLibs offers chance to make a mark

For sale: A major stake in what may be central Philadelphia’s next big real estate hot spot.

Property investor Mark Rubin is selling a portfolio of aged industrial and office buildings covering 7.75 acres — an area bigger than Rittenhouse Square — north of eastern Center City, situated between the booming neighborhoods of Old City and Northern Liberties.

The eight-property assemblage, which sprawls east of Ninth Street along Callowhill and Spring Garden Streets, includes a large tract that already has permits for a pair of residential high-rises designed by architect Cecil Baker and a historic former bank building that was home to one of restaurateur Stephen Starr’s earlier ventures.

Rubin’s properties, which Barmash said could fetch as much as $80 million, are hitting the market amid a gradual uptick in activity in and around what is now a district dominated by parking lots, industrial buildings, and strip-center retail.

“It’s really a seller’s market in disposing of many of these assets,” said Michael Silverman, a managing director at Integra Realty Resources in Philadelphia, who estimated that property values have more than doubled in the area over the last 10 to 15 years. “The market is certainly frothy.”

For the 2.6-acre parcel that accommodates the building at 444 N. Third St., Rubin commissioned architect Baker to design a residential project that takes near-maximum advantage of a late-2015 zoning change permitting big mixed-use projects in the previously industrial-only district.

The plan, calling for 24- and 27-story residential towers over ground-floor retail and three largely concealed levels of parking, passed through the city’s design-review process in October, meaning a new owner could begin work on the project after obtaining building permits.

Rubin’s own offices are in a nearby two-story building that is also part of the for-sale assemblage. That building sits on 11,000 square feet that could be “developable to 31 stories” under the new zoning, according to a Colliers brochure marketing the portfolio.

Read more here:
http://www.philly.com/philly/business/re...NoLibs-offers-chance-to-make-a-mark.html

[summersm343]

Imports hit record high at Philadelphia port

Philadelphia's port had a record January, reportedly boosted by imports from Chile, Panama and Peru.

A 20 percent jump in cargoes last month, as well as an increase in certain types of containerized freight, bolstered the Philadelphia port to its best month on record, according to a Philly.com report.

Goods from South America, in particular fruits, that had been sent to Baltimore and Newark, New Jersey are now heading into Philadelphia while other imports – like steel and project cargo, or odd-sized pieces of equipment, went down.

Eric Holt, of the Packer Avenue Marine Terminal in South Philadelphia, said the strength of the U.S. dollar is one factor that led to the record month.

http://www.bizjournals.com/philadelphia/...it-record-high-at-philadelphia-port.html

[summersm343]

Mapping the 26 high-rises under construction in Philly right now

http://philly.curbed.com/maps/philly-tower-highrise-construction-map

[dab]

Originally Posted by summersm343

Big sale of land between Old City and NoLibs offers chance to make a mark



Read more here:
http://www.philly.com/philly/business/re...NoLibs-offers-chance-to-make-a-mark.html

Callow East website: https://www.calloweast.com/

[Leviathant]

Originally Posted by dab

Callow East website: https://www.calloweast.com/

Is it even possible to come up with a worse name than Callow East?

Few people in Philadelphia seems to know that Callowhill Street is named after William Penn's second wife, who ran the colony after he had a stroke, and after he died. She was basically the country's first female governor, way back in the early 18th century. Whatever the original etymology of her maiden name was, calling your development opportunity "callow" seems... immature. One might say that name lacks sophistication.

But I'll wave all that off this time because the drone footage has (very) recent aerial shots of my wee little venue/apartment project on the other side of 95

[jjv007]

That's some awesome drone footage from the site.

[summersm343]

Soda companies, supermarkets report 30-50 pct. sales drop from soda tax

Two months into the city’s sweetened-beverage tax, supermarkets and distributors are reporting a 30 percent to 50 percent drop in beverage sales and are planning for layoffs.

One of the city's largest distributors says it will cut 20 percent of its workforce in March, and an owner of six ShopRite stores in Philadelphia says he expects to shed 300 workers this spring.

In response, the city questioned the legitimacy of the early figures and predicted that customers responding to the initial sticker shock by shopping outside the city would return.

“We have no way of knowing if their sales figures and predicted job losses are anything more than fear-mongering to prevent this from happening in other cities,” said city spokesman Mike Dunn.

Mayor Kenney harshly rebuked reports of coming layoffs late Tuesday night.

"I didn't think it was possible for the soda industry to be any greedier," Kenney said in an emailed statement. “…They are so committed to stopping this tax from spreading to other cities, that they are not only passing the tax they should be paying onto their customer, they are actually willing to threaten working men and women's jobs rather than marginally reduce their seven figure bonuses."

The 1.5-cent-per-ounce tax on sweetened and diet beverages is funding nearly 2,000 pre-K seats this year as well as several community schools. The city hopes it will bring in $92 million per year for the education programs and to in part fund renovated parks and recreation centers.

The city predicted a 27 percent sales decline industry-wide as a result of the tax but early returns from some beverage sellers show higher losses, fueling a resurgence of the anti-soda tax coalition that fought vigorously against the tax last summer.

Bob Brockway, chief operating officer of Canada Dry Delaware Valley, which distributes about 20 percent of the city’s soft drinks, said sales were down 45 percent in Philadelphia. The company will lay off 20 percent of its workforce the first week in March. The distributor is a subsidiary of Honickman Affiliates, owned by Harold Honickman, who helped lead the opposition to the tax last summer.

The 35 jobs on the line include managers, sales people, and drivers, Brockway said. Sales are up about 20 percent in the suburbs, but that hasn’t helped the business break even, he said. On the whole, the company’s sales are down about 30 percent, Brockway said.

The tax, upheld in December, is under appeal in a case expected to start April 3 in Commonwealth Court. In the meantime, a wave of discontent has swept the industry.

http://www.philly.com/philly/news/Soda-c...ort-50-percent-losses-from-soda-tax.html

[Redddog]

The sales are down because the soda companies didn't pay ANY of the tax - the consumer did. And they lost way more revenue in sales than they would have paying the tax. If those numbers are correct.

The mayor's right.

[Knight Hospitaller]

Delete: decided not to get a political/economics discussion going.

[Flyers2001]

Originally Posted by Redddog

The sales are down because the soda companies didn't pay ANY of the tax - the consumer did. And they lost way more revenue in sales than they would have paying the tax. If those numbers are correct.

The mayor's right.

The Mayor is an idiot on this. Philadelphia continues to target industries which drives sales outside the city. Why should the soda industry be targeted? As a consumer I am pissed that prices went up, but at the same time as a businessman why would I blame the soda industry. Taxes always get passed along to the consumer. I always found it odd that no other major cities in this country has passed this tax. Now, its clear because its a failure and people have spoken.

Living close to the border and working outside the city has made it easy for me to shop elsewhere, but knowing people that work for the busiest Shoprite on the East coast in the Far Northeast, it has def taken a toll on their overall sales.

If the city needs more revenue, it could try changing the way they treat business's in the city.

[Knight Hospitaller]

^ OK, i might as well speak my peace. Corporate taxes are always paid by consumers, ultimately. "Sin" taxes don't work and have unintended consequences. The mayor and city are going to eliminate choice and jobs while making little to no extra money in the end. Kenney is in the vanguard of leftist economic thinking that was discredited decades ago. That Brown fellow who owns several ShopRite's is a very civic minded fellow and can tell you what it's doing. Restaurant Depot on Henry Ave. is also affected.

[Londonee]

Originally Posted by Flyers2001

The Mayor is an idiot on this. Philadelphia continues to target industries which drives sales outside the city. Why should the soda industry be targeted? As a consumer I am pissed that prices went up, but at the same time as a businessman why would I blame the soda industry. Taxes always get passed along to the consumer. I always found it odd that no other major cities in this country has passed this tax. Now, its clear because its a failure and people have spoken.

Living close to the border and working outside the city has made it easy for me to shop elsewhere, but knowing people that work for the busiest Shoprite on the East coast in the Far Northeast, it has def taken a toll on their overall sales.

If the city needs more revenue, it could try changing the way they treat business's in the city.

http://www.forbes.com/sites/brucelee/201...es-whats-next-for-big-soda/#590f16d7193f

You do understand that it's also part of a larger health concern (child obesity, diabetes, etc.), right?

[McBane]

I'll throw in my two cents and it will sound very similar to what I said about the recently enacted "wage equality" law: Philadelphia simply can't afford to fight all these progressive battles. We not only need jobs and to increase our tax base, but to change the perception that Philadelphia is a place that nickles and dimes its residents and businesses. So while you might say that this or that has a nominal impact, this and that quickly add up. Any regulation that does not lower the cost to live or conduct business in the city is a step in the wrong direction.

Furthermore, these sorts of "creative taxes" are short sighted measures that divert everyone's energy from the real issues that no one wants to confront, namely the % of the city's budget that goes towards overly generous pension plans that the city cannot afford. Get rid of DROP and move all new hires to a 401k plan.

As long as the city ignores the pension issue and refuses to ever enact budget cuts, we can expect many more of these little taxes.

Also, Kenny is a jackass. His dumb quote about 7 figure bonuses is so out of touch with the reality of what's happening.

J. Del Conner is one of the 210 distributors registered with the city. He owns Dr. Physick soda, a tiny beverage-maker that sells about 500 cases a year. The soda is named after Conner’s great-great-great-grandfather, a Philadelphia pharmacist who introduced carbonated water into fruit syrup as a way to help relieve gastric disorders. Conner usually sells about 10 cases a month in winter but didn’t send any money to the city this month.

You think this guy is getting bonuses? Even Jeff Brown from ShopRite isn't making 7 figure bonuses. And all the bodega owners?

[Knight Hospitaller]

^ An excellent point. Even if folks disagree on whether it's good policy, one must choose one's battles. This is hardly the most significant issue facing the city. Sin taxes are also a bit incoherent. Some folks talk about the bad effects of soda on health, yet the City is banking on making this a funding source. Do they want less soda or more money? Whatever they make off of this will likely be netted out or worse by the unintended side effects.

[Groundhog]

Originally Posted by Londonee

http://www.forbes.com/sites/brucelee/201...es-whats-next-for-big-soda/#590f16d7193f

You do understand that it's also part of a larger health concern (child obesity, diabetes, etc.), right?

Exactly, to me it's a health concern.

Sales of soda are down as a result of this. In a city that has serious health issues, that's not how it was sold, but that's the reason I'm for it. That stuff just isn't good for you (although an argument could be made about the tax applying to some items such as almond milk, but that's a more nuanced argument after accepting a tax at all).

I wonder if those who are against the soda tax would like to see a cut in the cigarette tax too.

I'd love to see a breakdown of exactly who is buying less soda and what they are purchasing instead. I doubt that data exists and I can't even begin to speculate but that money is going somewhere and although some of it is going to the burbs, a lot of it is going to other goods and services within the city.