PHILADELPHIA | THE LAUREL @ 1911 Walnut | 604 FT | 48 FLOORS - Page 79

mcgrath618 · #**1561** Posted **Oct 19, 2017, 5:10 PM**

Quote:

Originally Posted by jsbrook

I would hope not...that's a lot of wasted time, time for the market to shift unfavorably and crater the projects, if we don't get Amazon. There will be no decision until next year.

Someone on here said that SLS and Broad + Pine are happening for certain. I have to hope they're not lying.

skyscraper · #**1562** Posted **Oct 19, 2017, 5:27 PM**

Quote:

Originally Posted by mcgrath618

I have a feeling that this and SLS/Broad+Pine are waiting to hear about the Amazon announcement before they move forward.

Nope, not a factor for SLS.

Elevator1 · #**1563** Posted **Oct 19, 2017, 7:10 PM**

Quote:

Originally Posted by skyscraper

Nope, not a factor for SLS.

Nor Broad and Pine. Sometimes design and details take time. Amazon is irrelevant here.

Mr Saturn64 · #**1564** Posted **Oct 20, 2017, 2:43 AM**

Quote:

Originally Posted by jsbrook

Square or not, why would anyone build 100s of apartments when demand is weakening? I suppose they might accept a short-term struggle with vacancies and rental rates, recognizing that demand will improve as inventory is absorbed and new construction levels off... The condo market is still strong. A shrunken project could still happen without apartments. Hopefully the retail bases are still in play just the same if they do move forward but shrink the tower.

Honestly, I'd rather see it cancelled entirely than get downgraded again. This area is just too ripe for skyscraper potential, and doesn't need another 10 Rittenhouse Square.

boxbot · #**1565** Posted **Oct 20, 2017, 4:16 AM**

Quote:

Originally Posted by mcgrath618

I have a feeling that this and SLS/Broad+Pine are waiting to hear about the Amazon announcement before they move forward.

That has nothing to do with anything for a host of reasons.

McBane · #**1566** Posted **Nov 29, 2017, 8:47 PM**

Small tidbit from today's Inky article on the shrinking Harper:

Quote:

Similarly situated is Nashville-based Southern Land Co.’s plan for a development of apartments, condo units, and retail space on an assemblage of properties centered at 1911 Walnut St., which a spokeswoman said this month will consist of 258 rental units and 75 condos.

I do recall that SLC was adding some condos at the expense of some rental units, but I don't recall the final number or if this represents a change. FWIW, the 1911 website says that the building, "will be approximately 47 stories tall and will feature over 300 luxury apartments."

1487 · #**1567** Posted **Nov 29, 2017, 8:48 PM**

it's been almost a YEAR since the last press on this project. Crazy! What the hell are they doing????

mcgrath618 · #**1568** Posted **Nov 29, 2017, 8:49 PM**

Well it doesn't seem to have been downsized. Do they imply that construction is starting within the month, or that they said it this past month?

Knight Hospitaller · #**1569** Posted **Nov 29, 2017, 8:50 PM**

I wouldn't shrink anything if I were them. They already have the best location and the Pearl decided not to compete.

summersm343 · #**1570** Posted **Nov 29, 2017, 9:56 PM**

The plan was always about 330 units, split between apartments and condos, with 55,000+ sq ft of retail.... so this makes sense.

Glad this one is still in the works. Hope it happens!

258 apartments is about 25 floors. 75 condos is about 20 floors... with two floors of retail/amenities, this makes sense to me.

1487 · #**1571** Posted **Nov 30, 2017, 1:10 PM**

Quote:

Originally Posted by mcgrath618

Well it doesn't seem to have been downsized. Do they imply that construction is starting within the month, or that they said it this past month?

you are right, when I went back and read the 12/16 article I saw this is in line with the reduced height announced a year ago. Too bad no additional detail on when we can expect to see progress was mentioned.

jsbrook · #**1572** Posted **Nov 30, 2017, 1:41 PM**

Quote:

Originally Posted by Knight Hospitaller

I wouldn't shrink anything if I were them. They already have the best location and the Pearl decided not to compete.

Pearl is competing, just on smaller scale. There is still a huge amount of inventory hitting the luxury and quasi-luxury rental market. But I too hope the most recent renders of this building are built. The rental market will eventually rebound if building slows. It probably just depends on how quickly their investors demand a return on investment and how much of one. Rental prices are depressed and probably will stay that way for awhile with all the new inventory hitting.

I haven't heard the latest on One Riverside, but my sense is the luxury condo unit is actually underserved, and Philly has the demand to absorb more condos.

Gonzo the Great · #**1573** Posted **Nov 30, 2017, 1:55 PM**

Hey , whats with this 1911 Walnut project .... The data page lists it @ 620' while the
cover page lists it @ 565' ..... Then I thought it had been scaled back to some 400' .

Does anyone know if any of the above mentioned figures are correct , or just a joke .

mcgrath618 · #**1574** Posted **Nov 30, 2017, 2:19 PM**

Quote:

Originally Posted by Gonzo the Great

Hey , whats with this 1911 Walnut project .... The data page lists it @ 620' while the
cover page lists it @ 565' ..... Then I thought it had been scaled back to some 400' .

Does anyone know if any of the above mentioned figures are correct , or just a joke .

It was originally 620', but was downsized to 565'

Mr Saturn64 · #**1575** Posted **Nov 30, 2017, 11:28 PM**

Quote:

Originally Posted by mcgrath618

Well it doesn't seem to have been downsized. Do they imply that construction is starting within the month, or that they said it this past month?

I went by the site right before Thanksgiving, and nothing had changed since the months before. I assume that means they said it the month before.

And, what I said a while ago still applies.

Quote:

Originally Posted by Mr Saturn64

Honestly, I'd rather see it cancelled entirely than get downgraded again. This area is just too ripe for skyscraper potential, and doesn't need another 10 Rittenhouse Square.

jsbrook · #**1576** Posted **Dec 1, 2017, 12:40 AM**

Quote:

Originally Posted by Mr Saturn64

I went by the site right before Thanksgiving, and nothing had changed since the months before. I assume that means they said it the month before.

And, what I said a while ago still applies.

They are doing work on the Rittenhouse Square Coffeehouse and the Warwick that will house lower income housing.

thisisforreal · #**1577** Posted **Dec 1, 2017, 12:46 PM**

Armchair developer speculation time...

If you were sitting on this property, would you wait a few more months until Amazon announced before moving forward with plans? I know I would. I'd cover myself in relish and mustard. I'd be delicious.

If HQ2 announced they were coming, I'd go back and find a way to push for every inch of height and extra unit I could. If they go elsewhere, proceed with what they've already got.

PHL10 · #**1578** Posted **Dec 1, 2017, 1:13 PM**

Quote:

Originally Posted by thisisforreal

I know I would. I'd cover myself in relish and mustard. I'd be delicious.

But would you wash yourself down with an ice-cold Budweiser?

mcgrath618 · #**1579** Posted **Dec 1, 2017, 1:57 PM**

That's a very valid point. If Amazon comes here (which most experts say is likely), those who want to develop projects such as this or SLS would want to wait and hear how it turns out...

jsbrook · #**1580** Posted **Dec 1, 2017, 2:06 PM**

Quote:

Originally Posted by mcgrath618

That's a very valid point. If Amazon comes here (which most experts say is likely), those who want to develop projects such as this or SLS would want to wait and hear how it turns out...

Nope.