PHILADELPHIA | Highrise Development Thread IX

[jsbrook]

Originally Posted by summersm343

Philly Tech to Rally Against Wolf Budget Proposal



Read more at http://www.phillymag.com/business/2017/0...olf-budget-proposal/#BbmUu5wIw15dsy83.99

Terrible idea. I hope they are successful at stymieying the tax.

[Skyscraper.Phanatic]

I would agree with PHL 10. Almost everything Dranoff touches turns into a cheap looking building. The Riverside / Dranoff Building gets a C- as compared to a D - for the Pepto Bismal like Symphony House.

[Nova08]

The simple fact that this idiotic Technology Tax is proposed tells us how clueless the PA State leaders are.

You can find a list of all of the Technology service areas that would likely face the tax:
No Tech Tax in PA
http://www.pghtech.org/no-tech-tax-in-pa.aspx

I'd go as far as to say that if this passes, any benefits from a proposed wage tax decrease could be negated.

[jsbrook]

Originally Posted by Nova08

The simple fact that this idiotic Technology Tax is proposed tells us how clueless the PA State leaders are.

You can find a list of all of the Technology service areas that would likely face the tax:
No Tech Tax in PA
http://www.pghtech.org/no-tech-tax-in-pa.aspx

I'd go as far as to say that if this passes, any benefits from a proposed wage tax decrease could be negated.

Thanks for sharing. I opposed via the link you shared.

[1487]

Originally Posted by summersm343

Philly Tech to Rally Against Wolf Budget Proposal



Read more at http://www.phillymag.com/business/2017/0...olf-budget-proposal/#BbmUu5wIw15dsy83.99

none of this would likely be on the table if they would a)tax the natural gas extraction or b)slightly raise the income tax. Since neither is on the table they are going after specific industries and services to tax.

[allovertown]

Originally Posted by 3rd&Brown

It doesn't matter what he's saying because this issue was addressed by a group consisting of zoning experts and neighborhood residents who developed an overlay plan that is what we have.

I happen to think it is a good plan.

If you all wanted car-centric Miami like development like Waterfront Square to satisfy your height boners you should have moved to one of the affected neighborhoods, joined the group, and made it happen.

XOXO

Overall I agree. However I think it is totally misguided to view the waterfront as though it's one neighborhood or one community. What other neighborhood is an eight of a mile wide and stretches 10 miles long? It's nonsensical.

I-95 is terrible and cut the waterfront off from the neighborhoods these areas used to be a part of, but despite those challenges each section of the waterfront is still tied more closely to its former neighborhood than another random part of the waterfront. In other words, development on the waterfront adjacent to Old City has more to do with Old City than the waterfront in Port Richmond or Pennsport.

The overall plan for the waterfront is a good one. I totally disagree with those who categorized the height limits as some sort of NIMBY effort. The simple fact of the matter is that even in the midst of an incredible boom, the amount of demand on the waterfront remains minimal. Build a huge tower and it's going 🞵🞵🞵🞵 all that demand up and a towers surrounded by parking lots and big box stores is not the waterfront of my dreams. Much better to have more short buildings spreading that demand out.

HOWEVER. We can't kid ourselves and act as though demand for the waterfront adjacent to Old City and Society Hill is the same thing as demand for the waterfront adjacent to other parts of town. If you build shorter buildings in the waterfront adjacent to Old City that demand isn't necessarily going spread out elsewhere.

Next to Old City and Society Hill, based upon the success of One Water Street, seems to be the one part of the waterfront where there is legitimate demand. I do not think it is a coincidence that this is the one part of the city where projects like the Race St connector and existing I-95 caps have connected these parts of town to the waterfront better than any other part of the city. And that connection is about to get better with the newly planned I-95 cap. That demand shouldn't be wasted. Especially considering the fact that new highrises are so difficult to build in Old City and Society Hill because of lack of space and historic preservations.

So I totally agree that this zoning change for this ridiculous development are a terrible idea. That the project will likely never happen and if it does it will likely be bad for the waterfront overall. However you can't go with a one size fits all approach. Towers on the waterfront next to pennsport are inappropriate, but towers on the waterfront adjacent to that nice new cap of I-95 seem totally appropriate.

[Larry King]

Originally Posted by 3rd&Brown

It doesn't matter what he's saying because this issue was addressed by a group consisting of zoning experts and neighborhood residents who developed an overlay plan that is what we have.

I happen to think it is a good plan.

If you all wanted car-centric Miami like development like Waterfront Square to satisfy your height boners you should have moved to one of the affected neighborhoods, joined the group, and made it happen.

XOXO

Ha it looks like I don't have to, councilman Squilla handling this for us! In all seriousness... waterfront square is a gated community, not good for waterfront. High rises with lots of apartments, ground floor retail, parking and public trail access along river is good for the waterfront. People that live on the waterfront will always have cars, we already have an entire city of quaint low-rise streets where it's difficult to park - no incentive for people that value those things to move to the river. Brickell-style high rises can cater to people with different taste.

[City Wide]

Originally Posted by Skyscraper.Phanatic

I would agree with PHL 10. Almost everything Dranoff touches turns into a cheap looking building. The Riverside / Dranoff Building gets a C- as compared to a D - for the Pepto Bismal like Symphony House.

I certainly agree with you. Lets hope his next project ends of with a B-.
I am glad he decided to build something other the apartments, and I hope that he is successful in selling out Riverside. That might encourage him to get another tower going before to long.

[jjv007]

What people don't seem to understand is that the waterfront doesn't have to fit in extensively with the city fabric except for a small area. The waterfront expands far beyond the city's "downtown" perimeters. It's okay to build isolated development in certain parts. Just take a look at an aerial of Chicago and notice how far waterfront developments extends past the downtown area. I'm sure the waterfront areas near the heart of the city are fairly heavily regulated but once you move past those areas, the city seriously has to lax restrictions.

[EastSideHBG]

Penn student buzzes new Comcast tower with drone, taking cool shots
Updated: MAY 17, 2017 — 12:49 PM EDT
http://www.philly.com/philly/business/co...th-drone-taking-cool-shots-20170517.html

[summersm343]

Literally nothing interested posted for the May 30th CDR meeting. Disappointing.

[summersm343]

The Beury Building on North Broad is now leasing

After 40 years of abandonment, the return of the iconic Beury building on North Broad is official—now it needs people to fill its space.

Developer Shift Capital has announced that it is actively looking for tenants to lease more than 11,000-square-feet of space in the Art Deco behemoth on North Broad and Erie Avenue.

It’s the latest development for the much-anticipated rebirth of the Beury building, which dates back to 1926 when it served as the headquarters for the National Bank of North Philadelphia. The 14-story structure was designed by William Harold Lee and was considered an Art Deco masterpiece.

Shift Capital’s plans hope to revive the building, and call for 62 one-bedroom units and commercial space built out during the first phase.

The second phase includes the construction of an annex, which will add 10,000 square feet of retail, 100,000 square feet of commercial space, and up to 80 residential units.

Construction on the first phase of the project is expected to begin at the end of 2017 and be ready for occupancy in spring 2019.

Read more here:
https://philly.curbed.com/2017/5/17/1565...r-plans-national-bank-north-philadelphia

[summersm343]

Beer & spirits hub brewing in Philadelphia. What's it mean for real estate?

Philadelphia was once known as The Workshop of the World, but it's fast becoming a hub for alcohol production, with more real estate dedicated to breweries, distilleries and fermenteries, according to a new report.

Just five years ago in 2012, Philadelphia only had a handful of long-established breweries and one startup distillery within city limits. That's changed, and it will continue to change, according to a report by JLL.

More than 30 separate companies will be in operation by 2018, including production breweries and eat-in brewpubs, and small-batch distilleries and fermenteries.

More real estate in Philadelphia is being dedicated for alcohol production facilities. Before 2012, about 118,200 square feet of space was dedicated for breweries, distilleries and fementeries, according to the report.

That number is expected to balloon to 267,200 square feet of space by 2018, representing 126 percent growth. About 183,400 square feet of real estate was earmarked toward this industry in 2016, the report reads.

Operators vary in size in Philadelphia, but of the 33 identified production facilities, 25 were under 10,000 square feet in size.

"When you think about this as a movement, it's very small-scale and very niche," said Lauren Gilchrist, vice president and director of research for JLL in Philadelphia.

Only seven surpassed 10,000-square-foot mark, including Yards Brewing Co.'s future 70,000-square-foot home in the former Destination Maternity facility at 456 N. 5th Street.

Other breweries that exceed that threshold include Philadelphia Brewing Co. at 38,000 square feet in Kensington (Philadelphia Brewing shares space with Commonwealth Ciders); 2nd Story Brewing Co. at 13,000 square feet in Old City; and Philadelphia Distilling's new 15,000-square-foot home in Fishtown.

This growth in demand and operators is helping local brewers and distillers find suitable real estate.

Montgomery County's Manatawny Still Works this year will open a tasting room on East Passyunk Avenue. And while developers and commercial landlords have approached the company since its inception in 2014, the frequency increased significantly in the past year, co-founder Derek Menaldino said.

"We believe this owes both to the growth and visibility of our brand and the numerous development projects in Philadelphia that want unique and high-end tenants to complement the vision for their projects," he said.

Here are a few beer and spirits developments in Greater Philadelphia:

-Iron Hill Brewery will open its 13th restaurant at the East Market development under construction at 11th and Market streets in Philadelphia.
-Dock Street Brewery in West Philadelphia opened a canning facility and tasting room adjacent to its brewpub.
-Wissahickon Brewing Co. opened in the East Falls section of Philadelphia, becoming the area's first brewery since the 1950s.
-Yards Brewing Co. will move into 70,000 square feet at the former Destination Maternity facility at 456 N. 5th Street. It's set to open in early 2017.
-Startup brewery Love City Brewing Co. by husband-wife team Kevin Walter and Melissa Walter will open an 11,000-square-foot, 20-barrel production facility in the Spring Arts district area of Philadelphia.
-Neshaminy Creek Brewing Co., after a lease fell through for a spot in Fishtown, will take over the former Guild Hall Brewing location in Jenkintown in Montgomery County.
-Roy Pitz Brewing Co. of Chambersburg, Pa., signed a lease to open a 4,000-square-foot brewpub on the ground floor of 990 Spring Garden St.
-Startup Locust Lane Craft Brewery opened a 5,200-square-foot production brewery on 50 Three Tun Road, a project by RedGoDevelopment.
-Brewery ARS by brothers Sean and Andy Arsenault in December 2016 opened on West Passyunk Avenue.
-Manatawny Still Works of Pottstown in Montgomery County this year will open a 600-square-foot tasting room on East Passyunk Avenue.
-Chester County's Bluebird Distillery will have a physical presence in Center City.
-Products from Boardroom Spirits in Lansdale are now available in Center City, and the distillery is expanding its production facility. A larger "hospitality space" is part of the expansion.
-Startup craft distiller Pennsylvania Distilling Co. will open a distillery in Chester County.
-Chester County’s Brandywine Branch Distillers accelerated its expansion after highlights in national media outlets catapulted it into distributors’ line of vision.
-Bucks County's Dad's Hat Pennsylvania Rye is expanding the size of its distillery from 6,000 square feet to 10,000 square feet, coinciding with the demand for its products.
-Philadelphia Distilling recently opened a Fishtown tasting room and a production facility

http://www.bizjournals.com/philadelphia/...-distillery-real-estate-philadelphi.html

[summersm343]

With warning letter resolved, Northeast Philadelphia drug manufacturer looks to hire dozens

Frontida BioPharm is planning to add hire 40 people over the next three-to-six months.

The Food and Drug Administration has issued a closure letter that resolves a warning letter it sent to Northeast Philadelphia drug maker Frontida BioPharm Inc. last year after an inspection found a series of “good manufacturing practices” at the site.

The FDA inspection was conducted at the plant during the summer of 2015 prior to Frontida’s 2016 acquisition of the plant on the 1100 block of Orthodox Street. It was previously owned by Sun Pharmaceuticals and originally operated by URL Pharma.

The agency's concerns about the previous owners involved inadequate quality control measurers, poor record keeping and unsatisfactory cooperation during the inspection process. Ron Connolly, chief operations officer at Frontida, said the company spent eight months working with the FDA to resolve the warning letter and, and as a result, keep the manufacturing facility from closing — saving 155 jobs.

During the past 11 months the company has hired an additional 65 workers and has plans to add another 40 within the next three to six months.

http://www.bizjournals.com/philadelphia/...da-biopharm-northeast-philly-hiring.html

[summersm343]

Co-Working Could Be A Savior In Philly's Office Market

Co-working spaces currently make up 1% of office real estate stock in the city, but research predicts it could rise as high as 30% when all is said and done. The sector's growing reliance on technology, mobility and the Millennial workforce all play into co-working’s hand, and is impacting Philly’s business community even now, with its meager market share.

“If we’re at 1%, even if the 30% is wildly optimistic, there’s a lot of room left in the market,” Benjamin’s Desk partner and director of real estate Jerre Riggs said.

Philly-based Benjamin’s Desk is one of the largest co-working operators in the city, though the field is growing increasingly competitive. New York-based WeWork has multiple locations, DC-based MakeOffices has a space in Center City, and New Yorkers Joynture and The Yard each recently opened Philly locations of their own.

All of these operators promise more Philly locations in the future, and they won’t be alone — more out-of-town co-working businesses are looking for space in Philadelphia, according to Cushman & Wakefield senior research analyst Vincent Planque, including London-based Startup Home. Co-working is growing aggressively, and demand appears to be meeting it.

“Even with all that’s happening in Philadelphia, it’s a relatively untapped market still,” Planque said.

Representatives from Benjamin’s Desk and MakeOffices confirmed that multiple businesses with headquarters in the Philly suburbs have rented co-working space in the city to ease the burden of reverse commuting for those who prefer to live in urban environments. In a small way, it is already beginning to address a huge concern for commercial real estate — how to bring companies from the suburbs into the city.

The trend has not gone unnoticed. The Philadelphia Department of Commerce launched a program called Gateway Philly in March to give financial incentives to businesses headquartered in the suburbs that wish to dip a toe in the urban waters.

If such a company signs a one-year lease in a co-working space (or any landlord willing to do short-term leases) with at least 20 seats, the Department of Commerce has promised $1K of reimbursements for each seat, up to $30K.

And just as more companies look to expand into co-working spaces, co-working could expand past its traditional model. Benjamin’s Desk now manages Pennovation Works, where they provide amenities, building management services and the digital network that connects all of their spaces, without being on the lease. The company is in talks to bring that model to more traditional office buildings as well.

Benjamin’s Desk also recently announced a partnership with DC-based startup incubator 1776 to expand on the part of the co-working business that is most heavily romanticized — startups finding investment capital to grow thanks to their co-working network. With 1776, Benjamin’s Desk hopes to expand the potential investor pool for its startups from local capital to global.

Read more at: https://www.bisnow.com/philadelphia/news/office/philly-coworking-office-market-savior-74567

[allovertown]

http://www.philly.com/philly/columnists/...erfront-planning-20170518.html?mobi=true

See this is why Squila's bill is so terrible. The debate here isn't one between tall towers and short towers. It's a fight between development and no development. Squila's bill will do nothing but enrich the current owner of that property, which coincidently include some people involved in a union that donates a lot of money to Squila. Those towers are fantasy and will never happen.

After it's sold for a huge profit it will be even harder to create a project that works because the more expensive land will just make development harder.

[Philly Fan]

Study calls for University City, W. Center City ‘Innovation District’

Philadelphia needs a coherent planning vision to solidify University City and western Center City into a financial and knowledge hub that can help the city prosper, scholars with the Brookings Institution, a Washington think tank, said in a report to be released Thursday.

Business, government, and academic leaders have ambitious plans for development aimed at supporting research-driven enterprises around Philadelphia’s universities and other institutions, but these initiatives need to be better coordinated to have maximum impact, the study’s authors wrote.

The study calls for a task force to address these development issues. It’s one of several recommendations made by the authors to guide the emergence of an “innovation district” – a dense, dynamic engine of economic activity – from 17th Street to 43rd Street along the Market Street corridor, and south along the Schuylkill to Grays Ferry.

More at the link above.

[SEFTA]

Originally Posted by hammersklavier

I'm not entirely sure what you're trying to say here? Wouldn't Old City/Penn's Landing, with its natural march to the water, be a better place for towers than some carte blanche development down by Pennsport?

No, that is what I meant. Bad wording. I mean that these are very popular areas but within their borders spaces left are limited and would have a hard time getting built. This is where towers make sense to me. I have seen a plan for the waterfront but no one seems to refer to it. It seemed very well thought and it didn't look like Renaissance Plaza would fit into it. Is this still a valid plan?

[Gonzo the Great]

[QUOTE=Philly Fan;7808691]Study calls for University City, W. Center City ‘Innovation District’






That plan is all great and exciting for everything west of city hall . I guess that leaves everything east of city hall ( especially Market st. )
to remain the forgotten one legged step child of center city .
I'm not sure but I think 80 per cent of new high rise construction has taken place away from 12th. st. to the Delaware river .

[McBane]

I agree Riverside is just okay. It's worst angle, to me, unfortunately, is from the South Street Bridge area. Too much cheap looking paneling from that vantage point.

Dranoff's buildings tend to have a McMansion quality to them, i.e., an appearance of exclusivity and wealth but built with cheap materials and shortcuts.