PHILADELPHIA | Highrise Development Thread IX

[SJPhillyBoy]

MOVIE: Holtec's impact on Camden

http://www.courierpostonline.com/videos/...8/movie-holtecs-impact-camden/105364218/

[Gonzo the Great]

Originally Posted by SJPhillyBoy

MOVIE: Holtec's impact on Camden

http://www.courierpostonline.com/videos/...8/movie-holtecs-impact-camden/105364218/

Wow , that is some great news . Both sides of the river are working hard to make life
better for it's residents and metro area .

[Mr Saturn64]

Originally Posted by Milksteak

This article puts Philly as a top contender, while also (incorrectly) calling it a "shrinking city". Definitely a different perspective and paints the whole situation in a more negative light.

https://www.google.com/amp/amp.slate.com...ose_the_contest_for_amazon_s_new_hq.html

If we get this, most of those negative attitudes toward Philly are going to slowly go away. Getting this is a must. It may very well not happen, but we can hope.

Any idea when they're announcing the winner.

[jsbrook]

Originally Posted by Mr Saturn64

If we get this, most of those negative attitudes toward Philly are going to slowly go away. Getting this is a must. It may very well not happen, but we can hope.

Any idea when they're announcing the winner.

We must gun hard for this project no matter what. Even if we fail, it will help us to win future ones. It will probably be awhile before a decision is made and made public. I think the initial RFP responses are due on October 20.

[ScreamShatter]

Originally Posted by jsbrook

We must gun hard for this project no matter what. Even if we fail, it will help us to win future ones. It will probably be awhile before a decision is made and made public. I think the initial RFP responses are due on October 20.

Can't be too long if they are wanting to start building in 2018 and ready to operate in 2019....wowzers. That's fast.

[City Wide]

Originally Posted by Raymond LuxuryYacht

I would think any of the cities in Texas would be hard to beat if they're basing their decision on affordability and taxes. The city better come to the table with a strong, pro-business proposal.

Fortunately their RFP includes other factors, like mass transit and culture and general location, all features Philly has tons of. If this search is really open and the City can 1. pull together, (forget about crazy proposals for Gray's Ferry and Port Richmond) get both gov't and private industry (Comcast, Vanguard, Urban Outfitters) and institutions (Penn, Drexel etc.) and 2. find creative ways of making Amazon overlook some of the taxes the City operates, then I think the City should have a good shot.

But if all Amazon really wants is cheap land and hundreds of millions of dollars in tax breaks and welfare, then probably not. That's why I hope the City, or whoever is going to run the show, can be very creative. Some people have mentioned getting Drexel to partner up with Amazon since they are a work/study university. Maybe Wharton at Penn could have some direct tie ins to Amazon, like a established method where Amazon employees could earn a Wharton MBA. I hope the cities proposal can read between the lines and go beyond the usual "here's land, here's a pile of money, here's a bunch of new buses, here's our sports teams, here's our airport" stuff. Plant a fucking spy out in Seattle and find out what they're really looking for!

[Philly Fan]

Originally Posted by City Wide

I hope the cities proposal can read between the lines and go beyond the usual "here's land, here's a pile of money, here's a bunch of new buses, here's our sports teams, here's our airport" stuff. Plant a fucking spy out in Seattle and find out what they're really looking for!

Hopefully, all of the recent experience and success promoting the city to get the DNC, Pope's visit, NFL Draft, World Heritage designation, etc., will come in handy here.

[jsbrook]

City Council needs to fasttrack a bill that halves the wage tax and BIRT for companies that bring X amount of NEW jobs to the city. Seems simple to me. Write to your council people. Allan Domb will be supportive.

[Xiubee]

Most of the speculation on what cities are in the running has focused on the macro city/regional level characteristics. But does anyone on here know whether the other likely top candidates have potential development sites that fit the specific criteria? I've seen some talk about the Boston seaport, but I have no idea if that meets Amazon's criteria. And how about Atlanta, Chicago, etc., are they really in the running when taking Amazon's pretty massive SF/acreage requirements into account, particularly with existing transit access?

[acenturi]

Here is the actual Amazon RFP:

https://images-na.ssl-images-amazon.com/images/G/01/Anything/test/images/usa/RFP_3._V516043504_.pdf

[Late1]

^Isn't it funny how certain publications, many NYC-based (like the NY Times), are putting out articles basically saying "Here are the best cities for Amazon HQ2" -- and some of them specifically claiming "according to Amazon's own RFP" -- and then they knock Philly out of the running (or don't even mention us) because Philly's job growth supposedly isn't strong enough.

And yet the RFP says nothing about job growth being a qualifying factor. It's almost like these other cities (specifically NYC) knowing that the RFP was basically written for Philadelphia -- and they're trying desperately to divert their readers' and Amazon's attention away from Philly...

[mville1]

As someone who is from Pennsylvania, I am trying to remain optimistic that either Philadelphia or Pittsburgh will land HQ2, but given the state's fiscal instability I am doubtful Pennsylvania will be able to offer a financial incentive package large enough to lure Amazon. The state still has not passed a revenue plan to fund the $32 billion budget, which became law back in June. I would think many state politicians would be reluctant to hand Amazon a large financial package when the state treasurer is saying Pennsylvania is running out of money. The optics would be terrible..."oh sorry UPENN, Penn State, and Pitt, etc...we have to withhold billions of dollars of funding because we don't have a revenue plan passed." Next day..."Pennsylvania is offering Amazon $xxx millions or billions in financial incentives for the HQ2 sweepstakes."

I sincerely hope when the state legislature reconvenes tomorrow they can pass a revenue plan in a timely manner; otherwise, Pennsylvania will be at a severe disadvantage when Philadelphia and Pittsburgh submit their RFP applications.

[Redddog]

Originally Posted by mville1

As someone who is from Pennsylvania, I am trying to remain optimistic that either Philadelphia or Pittsburgh will land HQ2, but given the state's fiscal instability I am doubtful Pennsylvania will be able to offer a financial incentive package large enough to lure Amazon. The state still has not passed a revenue plan to fund the $32 billion budget, which became law back in June. I would think many state politicians would be reluctant to hand Amazon a large financial package when the state treasurer is saying Pennsylvania is running out of money. The optics would be terrible..."oh sorry UPENN, Penn State, and Pitt, etc...we have to withhold billions of dollars of funding because we don't have a revenue plan passed." Next day..."Pennsylvania is offering Amazon $xxx millions or billions in financial incentives for the HQ2 sweepstakes."

I sincerely hope when the state legislature reconvenes tomorrow they can pass a revenue plan in a timely manner; otherwise, Pennsylvania will be at a severe disadvantage when Philadelphia and Pittsburgh submit their RFP applications.

Good take.

It's all about money. Period. The RFP can't come out and say "hey, our massive economic engine is for sale to the highest bidder so here is a superficial list of prerequisites that makes us looks like we're an upstanding cultural steward, focused primarily on the most beneficial environment for our employees."

It's money. Whomever provides the best financial package, gets the deal.

[iheartphilly]

Originally Posted by mville1

As someone who is from Pennsylvania, I am trying to remain optimistic that either Philadelphia or Pittsburgh will land HQ2, but given the state's fiscal instability I am doubtful Pennsylvania will be able to offer a financial incentive package large enough to lure Amazon. The state still has not passed a revenue plan to fund the $32 billion budget, which became law back in June. I would think many state politicians would be reluctant to hand Amazon a large financial package when the state treasurer is saying Pennsylvania is running out of money. The optics would be terrible..."oh sorry UPENN, Penn State, and Pitt, etc...we have to withhold billions of dollars of funding because we don't have a revenue plan passed." Next day..."Pennsylvania is offering Amazon $xxx millions or billions in financial incentives for the HQ2 sweepstakes."

I sincerely hope when the state legislature reconvenes tomorrow they can pass a revenue plan in a timely manner; otherwise, Pennsylvania will be at a severe disadvantage when Philadelphia and Pittsburgh submit their RFP applications.

I think the PA governor and state legislature needs to look at the big picture. Yes, the state is running out of money, but to refill the coffers, what better way then to build your tax base up. 50k jobs in total with an average of 100k in salary is an awesome tax base. This will put people to work, provide a service or product. It will have a compounding effect. I think it is an easy sell to PA taxpayers. PA needs to do a re-boot to its pension plan and balance its budget. But, getting more high paying jobs into PA and specifically Philly will be a win-win. So, I think the optics of this outweighs the optics of others. The state's return on investment (i.e., financial incentive package) will be many folds for years to come. Amazon in Philly will be an economic engine for us and the State like UPENN, CHOP, and the other educational institution.

[jsbrook]

Originally Posted by Redddog

Good take.

It's all about money. Period. The RFP can't come out and say "hey, our massive economic engine is for sale to the highest bidder so here is a superficial list of prerequisites that makes us looks like we're an upstanding cultural steward, focused primarily on the most beneficial environment for our employees."

It's money. Whomever provides the best financial package, gets the deal.

I don't think it's ALL about money, but that's certainly a large part of it, if not the dominant factor. We should be able to be competitive, though. We still have plenty of KOZ designated land around the city, and in every such zone, BIRT is completely waived for 15 years, as are property taxes. Schuylkill Yards still seems the best candidate to me and to check off most of their other boxes. That does a lot for us without even doing anything specific. We have some other things going for us. While not zero like Texas, personal income tax at the state level is lower than most states. Then the question is what other financial incentives we can and would offer.

[acenturi]

I would not be surprised if Comcast contributes to and financially supports the city's proposal.

BTW, here is a Forbes "Contributor's" view that Philly should be selected. Unfortunately, IMO the last sentence sorta reduces his credibility.
https://www.forbes.com/sites/modeledbeha...adquarters-in-philadelphia/#2f3914b22624

[iheartphilly]

Originally Posted by acenturi

I would not be surprised if Comcast contributes to and financially supports the city's proposal.

BTW, here is a Forbes "Contributor's" view that Philly should be selected. Unfortunately, IMO the last sentence sorta reduces his credibility.
https://www.forbes.com/sites/modeledbeha...adquarters-in-philadelphia/#2f3914b22624

+1
Add Pierre R. Brandeau, CEO of FMC Corp. FMC is ofter not in the limelight, but this is a REAL company with broad reach of its products and services in the world.

[City Wide]

Originally Posted by iheartphilly

I think the PA governor and state legislature needs to look at the big picture. Yes, the state is running out of money, but to refill the coffers, what better way then to build your tax base up. 50k jobs in total with an average of 100k in salary is an awesome tax base. This will put people to work, provide a service or product. It will have a compounding effect. I think it is an easy sell to PA taxpayers. PA needs to do a re-boot to its pension plan and balance its budget. But, getting more high paying jobs into PA and specifically Philly will be a win-win. So, I think the optics of this outweighs the optics of others. The state's return on investment (i.e., financial incentive package) will be many folds for years to come. Amazon in Philly will be an economic engine for us and the State like UPENN, CHOP, and the other educational institution.

Your statement is largely very rational and logically, but------my take on the State legislature is that 50% or more of its members absolutely hate Phila., and even if it were crystal clear that a aid package for Amazon would benefit the State, including the State gov't., they still wouldn't support it. What's that great line, Pa is Philly on one end, Pittsburgh on the other, with Alabama in-between.

[1487]

Originally Posted by City Wide

Your statement is largely very rational and logically, but------my take on the State legislature is that 50% or more of its members absolutely hate Phila., and even if it were crystal clear that a aid package for Amazon would benefit the State, including the State gov't., they still wouldn't support it. What's that great line, Pa is Philly on one end, Pittsburgh on the other, with Alabama in-between.

Deals offered by the state are mostly (if not completely) under the control of the governor. Tom Ridge had the authority to line up a huge giveaway for a shipbuilder in the 90s when they were trying to reactivate the navy yard.

[Nova08]

Originally Posted by summersm343

^^The RFP is almost tailor made with Schuylkill Yards/30th Street Station District in mind... it's pretty crazy how well these developments would meet, and exceed Amazon's needs.

It really is up to the incentive package here. Philadelphia really needs to offer everything. We need to understand it's going to cost us. The rewards are worth it though. Not just from Amazon, but everything this would bring along.

I couldn't agree more. It is almost as though Amazon was a silent partner in SY all along.

FWIW, GE said that the financial incentives were not the deciding factor on the move to Boston. That said, with the way Amazon set up this bidding war, I find it hard to imagine that a city can win without ponying up a pretty hefty package.


Also, I hope the leaders around Philly all get on board that SY was bred for Amazon. I've seen quotes and tweets from various leaders suggesting the Navy Yard, the river front, Callowhill, etc. Those aren't bad ideas. But with the aggressive timeline and qualifications Amazon identified, they need a site that is ready to go as soon as the winner is announced. No zoning meetings, no zoning variances, no NIMBYs, no mass imminent domain, no councilmen prerogative, etc. Does the NY even have the space for 8 million sq ft? It is by no means fully built out, but that is a ton of space. I believe there is a height restriction due to the PHL flight path. How many 4-5 story buildings are needed for that much space, 10-15?