PHILADELPHIA | Highrise Development Thread IX - Page 767

Philly Fan · #**15321** Posted **Aug 30, 2017, 2:05 PM**

Quote:

Originally Posted by McBane

I am trying to see by the picture posted in the Blackwell article but can't tell for sure. Is this the setup where the bike lane is to the left (looking east) of the parked cars? Like they do in NYC and a few other places? I really like that set up and hope it is. I feel that is much safer.

Yes, with physical posts marking the boundary between the parking and the bike lane.

1487 · #**15322** Posted **Aug 30, 2017, 2:09 PM**

Quote:

Originally Posted by McBane

I am trying to see by the picture posted in the Blackwell article but can't tell for sure. Is this the setup where the bike lane is to the left (looking east) of the parked cars? Like they do in NYC and a few other places? I really like that set up and hope it is. I feel that is much safer.

And yes, Blackwell is an idiot but she's smart enough to take advantage of an even dumber electorate who continues to elect her by wide margins to the point that I don't think she even faces opposition.

yeah if someone wants to challenge in that district they should. But most of these relative newcomers do nothing but complain- they aren't willing to put anything on the line to change things in a real way. You don't even need high turnout to win. If Feibush hadn't alienated so many people he could've beaten Johnson but unfortunately he is arrogant.

jsbrook · #**15323** Posted **Aug 30, 2017, 2:43 PM**

One Franklin Tower's looking good. The model apartment is staged hideously, though. For a 90 year old grandma at the best. Not well-thought if they want to attract a young population. I somehow get an email from Nancy Alperin of Maxwell Realty on this every day. "Philadelphia's NEWEST LUXURY RESIDENTIAL Community, FRANKLIN TOWER" Also, one on "Art Museum Area OASIS!!!!!!!!!!!! A MUST SEE!!!"

Gonzo the Great · #**15324** Posted **Aug 30, 2017, 4:12 PM**

Philadelphia 1,576,000

Search for this on Wiki Travel
Search for this on Google

According to a site called " List challenges " this was the city population at the end of 2016 .

Everything is subject to change or interpretation but if true , Philly just may get back over 1.6
million by the 2020 census ..... Hope there are jobs to match .

1487 · #**15325** Posted **Aug 30, 2017, 5:06 PM**

Quote:

Originally Posted by Gonzo the Great

Philadelphia 1,576,000

Search for this on Wiki Travel
Search for this on Google

According to a site called " List challenges " this was the city population at the end of 2016 .

Everything is subject to change or interpretation but if true , Philly just may get back over 1.6
million by the 2020 census ..... Hope there are jobs to match .

job growth has been strong in last few years. I think we are over 700k jobs now

summersm343 · #**15326** Posted **Aug 30, 2017, 7:25 PM**

One Franklin Tower is Moving Along Nicely

Read more here:
http://www.ocfrealty.com/naked-philly/logan-square/one-franklin-tower-moving-along-nicely

1487 · #**15327** Posted **Aug 30, 2017, 8:25 PM**

Condo market in philly

http://www.philly.com/philly/business/re...ags-citys-housing-recovery-20170830.html

summersm343 · #**15328** Posted **Aug 30, 2017, 9:19 PM**

Quote:

Originally Posted by 1487

Condo market in philly

http://www.philly.com/philly/business/re...ags-citys-housing-recovery-20170830.html

Dumb 🞵🞵🞵 article.

Article reads as: "There is only a luxury condo market in Center City. There is no luxury condo market outside of Center City as everybody is buying townhomes/rowhomes."

My response: "Yeah, no 🞵🞵🞵🞵 Sherlock."

3rd&Brown · #**15329** Posted **Aug 31, 2017, 1:55 AM**

Quote:

Originally Posted by summersm343

Dumb 🞵🞵🞵 article.

Article reads as: "There is only a luxury condo market in Center City. There is no luxury condo market outside of Center City as everybody is buying townhomes/rowhomes."

My response: "Yeah, no 🞵🞵🞵🞵 Sherlock."

Could also read:

"People don't move to cities to live in gated communities".

End story.

City Wide · #**15330** Posted **Aug 31, 2017, 2:47 PM**

I get that there's more profit in building and selling condos in the $1M plus price market. The added costs to build for that market is more then offset by the increased profit. The risk factor is lower.

But what I don't understand is if there isn't enough profit to be made in building and marketing condos for the sub $1M market. I think the demand for a nice basic 2 bedroom condo for around $7-900K would be substantial, and is untapped. Since the 'boundaries' of CC housing have been pushed out, and if zoning were to allow such developments, I think high rise condos could be sold that weren't in what has been considered prime areas. Such as S. Board between South and Washington Ave.

And if they didn't sell, they could be rented out, since that market seems to be continuing to be successful.

What do other people think?

1487 · #**15331** Posted **Aug 31, 2017, 3:22 PM**

Quote:

Originally Posted by City Wide

I get that there's more profit in building and selling condos in the $1M plus price market. The added costs to build for that market is more then offset by the increased profit. The risk factor is lower.

But what I don't understand is if there isn't enough profit to be made in building and marketing condos for the sub $1M market. I think the demand for a nice basic 2 bedroom condo for around $7-900K would be substantial, and is untapped. Since the 'boundaries' of CC housing have been pushed out, and if zoning were to allow such developments, I think high rise condos could be sold that weren't in what has been considered prime areas. Such as S. Board between South and Washington Ave.

And if they didn't sell, they could be rented out, since that market seems to be continuing to be successful.

What do other people think?

I think a new building that wasn't aiming at the very top of the market would do well. Not sure why no one is trying to do one though. Instead they are doing super premium units that can only appeal to a tiny slice of the area population. The fact that 500 walnut is still only 2/3 sold after all of this time is interesting.

McBane · #**15332** Posted **Aug 31, 2017, 3:54 PM**

Quote:

Originally Posted by City Wide

I get that there's more profit in building and selling condos in the $1M plus price market. The added costs to build for that market is more then offset by the increased profit. The risk factor is lower.

But what I don't understand is if there isn't enough profit to be made in building and marketing condos for the sub $1M market. I think the demand for a nice basic 2 bedroom condo for around $7-900K would be substantial, and is untapped. Since the 'boundaries' of CC housing have been pushed out, and if zoning were to allow such developments, I think high rise condos could be sold that weren't in what has been considered prime areas. Such as S. Board between South and Washington Ave.

And if they didn't sell, they could be rented out, since that market seems to be continuing to be successful.

What do other people think?

I'd love to see South and North Broad Street lined with simple 10-20 story non-luxury buildings. Similar to the 1950's Airlites built in the NE and other neighborhoods (and also similar to the red brick apartment buildings that went up throughout NYC during the same era). 1200 foot, 2-3 bedrooms, limited parking (for an extra fee) - no pool, Viking appliances, balconies, doorman, or any other frills.

My guess is that there isn't as much money in this demographic....

eixample · #**15333** Posted **Aug 31, 2017, 4:28 PM**

There is some money in that demographic, but if you can get your own 500K-1M house, why buy a condo for the same price? Particularly for younger people who don't care that much about the no maintenance advantage of a condo.

Londonee · #**15334** Posted **Aug 31, 2017, 5:33 PM**

Quote:

Originally Posted by City Wide

I get that there's more profit in building and selling condos in the $1M plus price market. The added costs to build for that market is more then offset by the increased profit. The risk factor is lower.

But what I don't understand is if there isn't enough profit to be made in building and marketing condos for the sub $1M market. I think the demand for a nice basic 2 bedroom condo for around $7-900K would be substantial, and is untapped. Since the 'boundaries' of CC housing have been pushed out, and if zoning were to allow such developments, I think high rise condos could be sold that weren't in what has been considered prime areas. Such as S. Board between South and Washington Ave.

And if they didn't sell, they could be rented out, since that market seems to be continuing to be successful.

What do other people think?

I'll just quote myself from a page or so ago:

Quote:

Originally Posted by Londonee

^^Are mid-market (not ultra, high-end luxury) condos just not profitable? It seems a no-brainer to me, with so many millennials willing to pay $2500/mth for a rental...and baby boomers wanting to sell there $800,000 home in Paoli and keep a large chunk to add to their nest egg, but downsize and move into the city with no yard/maintenance... why are we not seeing more new condos built in the $400-$500k range?

Instead of 56 units over 28 floors, you condense a bit and do 100 units...I find it hard to believe, that in a building like this you can find a way to build 3-4 units/floor. I guess i just know several people who are in this exact marketspace and have complained to me that outside of a few choices (like The Ellington, The Phoenix, Academy House) - there's just no inventory in this range.

Seems like a big hole in the market of what we're seeing built right now.

So i mostly agree with you - though I think $900k for a "basic 2 bedroom condo" is a pretty steep and prices most millennials and a lot of Gen Xers out.

summersm343 · #**15335** Posted **Sep 1, 2017, 2:21 PM**

Movies and shopping a fix for downtown Philly? It's a hit in Stone Harbor

Read more here:
http://www.philly.com/philly/business/mo...-its-a-hit-in-stone-harbor-20170831.html

summersm343 · #**15336** Posted **Sep 1, 2017, 2:24 PM**

Wrong thread.

Milksteak · #**15337** Posted **Sep 1, 2017, 3:16 PM**

Delete.

summersm343 · #**15338** Posted **Sep 1, 2017, 3:33 PM**

Quote:

Originally Posted by Milksteak

This is turning into the new normal. At first I was skeptical about the KOP Town Center, it's most definitely a sterilized version of an urban environment, but after driving through there it's actually kind of a cool concept. My biggest problem is that there are neglected Main Streets and 'Town Centers' scattered across the region that already have an existing infrastructure begging to be rehabbed. These concepts are acknowledging that people want to live where they play, then plopping that down in the middle of a field or golf course.

I'm sure from a developer's standpoint, it's much easier to build from the ground up in an untapped environment rather than dealing with all of the infrastructure issues and small government problems (not to mention NIMBYs) that existing towns have, I'm just all for fixing what we have before starting over.

Meant to post these in the Metro Development Thread, lol.

Milksteak · #**15339** Posted **Sep 1, 2017, 4:03 PM**

Quote:

Originally Posted by summersm343

Meant to post these in the Metro Development Thread, lol.

I made note of that and carried on anyways haha...I've moved my response to the metro thread.

ePlanningPhila · #**15340** Posted **Sep 1, 2017, 5:08 PM**

Broad + Pine revised Proposal.
28 Floors.

I am having trouble uploading images but the new renderings are available. The building is 28 stories, but slightly taller than the earlier proposal for the location. Although I must say I preferred the brick facade of the earlier proposal. This looks like a One Riverside II in aspect of design.

Here is the link:

https://www.dropbox.com/s/xcie398upjd61ri/21623_Broad%2BPine_CDRpackage_small.pdf?dl=0