PHILADELPHIA | Highrise Development Thread IX

[Knight Hospitaller]

Originally Posted by 3rd&Brown

Amazon has started placing orders for planes.

Meaning, they'd rather own distribution of their goods than hand it off to FedEx or UPS. It would make sense, if Amazon were to become its own logistics provider, that they would have a hub airport in the manner that Fedex has one in Memphis and UPS in Louisville.

So it could be that the Millville airport would become an Amazon Logistics Hub.

Righto. My reference to a distribution facility comprehended a "logistics hub." I had seen that Amazon was looking into DIY logistics. Whatever it is, Millville could really use it.

[MyDadBuiltThat]

Originally Posted by 3rd&Brown

Amazon has started placing orders for planes.

Meaning, they'd rather own distribution of their goods than hand it off to FedEx or UPS. It would make sense, if Amazon were to become its own logistics provider, that they would have a hub airport in the manner that Fedex has one in Memphis and UPS in Louisville.

So it could be that the Millville airport would become an Amazon Logistics Hub.

If they want their own airport they should look at buying the former Willow Grove Naval Air Station. Turnpike access. Brand new two foot thick tarmac on the runways right before it was BRACed. Full length runways that can handle the biggest planes - they used to supply forces in the Middle East from there. And the airport was in place long before the area was developed so the locals would have no power to stop its reopening as an airport or affect its operations.
Local government wants to use it for mixed use development but its really too contaminated, especially for residential use. Plus the commercial vacancy rate in the area is already high.

[summersm343]

More on Scannepieco's next tower

In the meantime, Scannapieco is already trying to work out details on his next project: a residential tower at the Nelson building in the heart of Society Hill. Scannapieco put the building, located at 222-230 Walnut St. under agreement earlier this year. Currently, he said, he is working to purchase the air rights of at least one of his adjacent neighbors at the site to achieve more density. If he succeeds, Scannapieco said he is planning between 30 and 50 ultra-luxury units in a high-rise on the Society Hill site, all of which will be priced similarly to 500 Walnut.

Scannapieco said he plans to work with Baker again on the next project.

http://www.philly.com/philly/business/re...s-finished-tom-scannapieco-20171017.html

[mattejb]

Amazon has plans for an air hub in Cincinnati:
http://www.cincinnati.com/story/money/20...s-2700-jobs-15b-investment-cvg/97283034/

[Nova08]

Originally Posted by mattejb

Amazon has plans for an air hub in Cincinnati:
http://www.cincinnati.com/story/money/20...s-2700-jobs-15b-investment-cvg/97283034/

Thank you. I was just going to post. Amazon has built up a decent airfreight network with lofty plans for the future...and no airport in the PHL area (save for ABE) are in those plans to be some type of major air hub.

Millville is just under an hour from the major 295/NJ Turnpike corridor. A bit too far in my opinion to be anything more than a regional distribution center

[Jayfar]

Originally Posted by Kidphilly

which is in Chicago a pharma logistics distribution company with a better fit is in our area AmerisourceBergen

But AmerisourceBergen is essentially a wholesaler. AMZN wants all the retail and CVS would give them that bigtime, both bricks and mortar pharmacies and people enrolled in prescription benefit plans.

[1487]

Originally Posted by Jayfar

But AmerisourceBergen is essentially a wholesaler. AMZN wants all the retail and CVS would give them that bigtime, both bricks and mortar pharmacies and people enrolled in prescription benefit plans.

Amerisource is moving in a few years and Kenney said his admin is already in talks with them trying to sell them on relocating here.

[1487]

Interesting article on apt absorption. The sky high rents these new buildings are asking are just not sustainable. I think it's going to be a long time before something like the Ludlow is close to being full considering the rents they are asking. Not sure how all the smart people financing and pricing these things aren't aware of what's going on.

https://whyy.org/articles/renters-market-philly-landlords-cut-prices-offer-enticements-woo-tenants/

[Nova08]

Originally Posted by 1487

Interesting article on apt absorption. The sky high rents these new buildings are asking are just not sustainable. I think it's going to be a long time before something like the Ludlow is close to being full considering the rents they are asking. Not sure how all the smart people financing and pricing these things aren't aware of what's going on.

https://whyy.org/articles/renters-market-philly-landlords-cut-prices-offer-enticements-woo-tenants/

I know someone in in 3737 Chestnut and they are offering all sorts of incentives like raffle's for Sixers tickets, Sixers premium boxes, free rent for a month.

As all of these amenity full buildings come onto the market, the older places shown in the article suddenly become less glamorous and therefor people think...wait, this place is only $300/month cheaper than a building with a community room, door man, rooftop deck, etc. Come on, it should be $700+ cheaper.

[mcgrath618]

Originally Posted by Nova08

I know someone in in 3737 Chestnut and they are offering all sorts of incentives like raffle's for Sixers tickets, Sixers premium boxes, free rent for a month.

As all of these amenity full buildings come onto the market, the older places shown in the article suddenly become less glamorous and therefor people think...wait, this place is only $300/month cheaper than a building with a community room, door man, rooftop deck, etc. Come on, it should be $700+ cheaper.

Older buildings should follow a sort of parabola of prices. They should either be really cheap, or swing the other way and be incredibly expensive and luxurious.

Except for anything from the 60s. Those should all be bottom-of-the-barrel as far as rent goes.

[1487]

Originally Posted by Nova08

I know someone in in 3737 Chestnut and they are offering all sorts of incentives like raffle's for Sixers tickets, Sixers premium boxes, free rent for a month.

As all of these amenity full buildings come onto the market, the older places shown in the article suddenly become less glamorous and therefor people think...wait, this place is only $300/month cheaper than a building with a community room, door man, rooftop deck, etc. Come on, it should be $700+ cheaper.

I think it's going to be a long slow process of leasing up some of the buildings recently completed or soon to be completed. It's pretty obvious that lenders were very eager to give out money for multifamily projects in recent years. What data are they looking at that shows there is ample demand for $1900 1BR or efficiency apts in Philly?

[Boku]

More regional idiots.

Delaware County, Chester City to compete for Amazon's HQ2

http://www.philly.com/philly/business/re...to-compete-for-amazons-hq2-20171018.html

[mcgrath618]

Originally Posted by Boku

More regional idiots.

Delaware County, Chester City to compete for Amazon's HQ2

http://www.philly.com/philly/business/re...to-compete-for-amazons-hq2-20171018.html

This is so dumb. I honestly hate the Delco leaders.

[Parkway]

Originally Posted by mcgrath618

This is so dumb. I honestly hate the Delco leaders.

In an area renown for it's petty parochialism Delco stands head and shoulders above the rest.

[mcgrath618]

Originally Posted by Parkway

In an area renown for it's petty parochialism Delco stands head and shoulders above the rest.

Walking around Havertown, you can see the start of a small commercial corridor, which then falls apart and is just rows after rows of pizza places and nail salons.
The biggest sin was abolishing the 103 trolley. That would make a killing nowadays.

[Knight Hospitaller]

Originally Posted by mcgrath618

Walking around Havertown, you can see the start of a small commercial corridor, which then falls apart and is just rows after rows of pizza places and nail salons.
The biggest sin was abolishing the 103 trolley. That would make a killing nowadays.

You forgot to mention my law office.... Havertown falls somewhere in between a town and the modern suburb. There are some "nodes" of commercial activity, like Brookline and my own Oakmont. I can walk to Brick & Brew and a Conshohocken Brew Pub is being fitted out in the next block. It's not Media or West Chester, but it's not bad, considering. Maybe I'll put in a bid to have Amazon locate here.

[Philly Fan]

Pa. tax break offer for Amazon to top $1 billion, Philly-area business group head says

Pennsylvania officials plan to offer Amazon more than $1 billion in tax incentives if the e-commerce giant locates its planned second headquarters campus in the state, the head of the Philadelphia area’s main business group said.

Chamber of Commerce for Greater Philadelphia president Rob Wonderling said in an interview Tuesday that the tax breaks would be an extra enticement on top of Pennsylvania’s existing draws. State legislators highlighted Pennsylvania’s educational institutions and high-tech workforce in an online letter to Amazon.com Inc. this month.

[tsarstruck]

Originally Posted by Knight Hospitaller

You forgot to mention my law office.... Havertown falls somewhere in between a town and the modern suburb. There are some "nodes" of commercial activity, like Brookline and my own Oakmont. I can walk to Brick & Brew and a Conshohocken Brew Pub is being fitted out in the next block. It's not Media or West Chester, but it's not bad, considering. Maybe I'll put in a bid to have Amazon locate here.

For those who remember what Media was like 25 years ago, it stuns me that people mention it as a place to emulate. What an amazing turnaround.

[City Wide]

Originally Posted by mcgrath618

Walking around Havertown, you can see the start of a small commercial corridor, which then falls apart and is just rows after rows of pizza places and nail salons.
The biggest sin was abolishing the 103 trolley. That would make a killing nowadays.

what was/where was the 103 trolley? I can't find any info re it.

[Philly Fan]

A couple of Amazon TV shows, courtesy of the City of Philadelphia (let's hope the Big A watches them):


• Video Link

• Video Link