PHILADELPHIA | Highrise Development Thread IX

[summersm343]

Blatstein returns focus to Northern Liberties with plan for remaining brewery parcel


dixon-396732-f-wp-content-uploads-2018-02-1048621_d2183032ba9ae39-e1519765608543-1208x805 by Mr. Summers, on Flickr

Developer Bart Blatstein wants to build a complex of nearly 1,200 rental apartments in Philadelphia’s Northern Liberties neighborhood in what would be his final project on a cluster of properties he began assembling in the early 2000s centered on the former Schmidt’s brewery site.

Blatstein’s plan for a long vacant lot at Second Street and Germantown Avenue calls for six connected buildings with 45,000 square feet of lower-story shops and restaurants around a central plaza. The project would occupy the 4.4-acre lot south of the Shops at Schmidt’s retail building and across the street from the Piazza at Schmidts — now Schmidt’s Commons — apartment and shopping complex, both of which he developed and later sold.

Blatstein said in an interview Tuesday that he plans to complete the project in phases over five years at a cost of more than $350 million, with groundbreaking expected by the end of March 2019. His past proposals for the lot have included 600 residential units in three buildings that were to have been called the Residences at Schmidts.

“I held this piece out for years just to see what the highest and best use” was going to be once the dust had settled on other projects in the area, he said.

The project marks what may be Blatstein’s last major development in Northern Liberties, where he had been based until a move late last year to the Rittenhouse Square area. The site is his last major property in the neighborhood after a years-long sell-off of his area holdings.

On Monday, Blatstein presented plans for the site, which also includes hidden-from-view garage space for nearly 500 cars, to the Northern Liberties Neighbors Association as part of its approval process. Next comes an appearance — likely in April — before Philadelphia’s Civic Design Review board, which offers nonbinding suggestions for the city’s biggest development proposals. Blatstein said no variances or other zoning changes would be necessary under area land-use rules.

http://www.philly.com/philly/business/re...r-remaining-brewery-parcel-20180227.html

[summersm343]

Originally Posted by mcgrath618

Any rough, early, vague estimates on height?

Looks like the two tallest buildings are AT LEAST 12 floors, so this project will get it's own high rise thread... just going to wait until we get a little more info.

[McBane]

I didn't see this posted here but the owner of that nightclub on 12th and Vine purchased the parking lot next door where the original plan was to build a 16 story apartment building.

http://www.philly.com/philly/business/re...-meritis-group-deberardine-20180227.html

And Blatstein's NoLibs plans? Looks awesome! Build it!!! That entire intersection is a mess.

[jsbrook]

Originally Posted by Philly Fan

Nice write-up on national commercial development website about Schuylkill Yards, and other major Philly developments:

Makeover In Philly
A series of megaprojects promises to transform the City of Brotherly Love.

Nice to see some coverage, but this article is complete shit. For one thing, most people don't exit the 30th street side of 30th Street Station. They exist on 29th, which opens to sweeping views of the Center City skyline. And that's the least of its problems. Oh well. Overall, it's positive press.

[el don]

Originally Posted by jsbrook

Nice to see some coverage, but this article is complete shit. For one thing, most people don't exit the 30th street side of 30th Street Station. They exist on 29th, which opens to sweeping views of the Center City skyline. And that's the least of its problems. Oh well. Overall, it's positive press.

Is this recent? I've was commuting in for 5 years until last year and always saw way more people exit of of the 30th street side. Usually when their giving away free yogurt and stuff it's on the 30th street side, the Jehova's witnesses are on the side, and the early morning food trucks like Foolish Waffles post up on that side too.

[Nova08]

Originally Posted by el don

Is this recent? I've was commuting in for 5 years until last year and always saw way more people exit of of the 30th street side. Usually when their giving away free yogurt and stuff it's on the 30th street side, the Jehova's witnesses are on the side, and the early morning food trucks like Foolish Waffles post up on that side too.

Didn't read the article, but yea, I wouldn't say "most" more people exit on 29th than 30th. Currently all ride sharing and friends/family pick up is on the 30th side with Taxi's are on the 29th side.

[jsbrook]

Originally Posted by el don

Is this recent? I've was commuting in for 5 years until last year and always saw way more people exit of of the 30th street side. Usually when their giving away free yogurt and stuff it's on the 30th street side, the Jehova's witnesses are on the side, and the early morning food trucks like Foolish Waffles post up on that side too.

29th street side at Market is the exit all the cabs come to. It's where I've always exited. Not sure why people would exit on the 30th street side unless they are going to University City or West Philly. Maybe some lost tourists...perhaps it's changed a bit with ride share, but re above, I don't think personal pickups used to go to the 30th street side either. I always remember getting picked up on the 29th street side.

[PHL10]

Originally Posted by jsbrook

Not sure why people would exit on the 30th street side unless they are going to University City or West Philly.

You would also exit at 30th Street for the El and Trolly . So basically every mode of transport except for traditional taxis and pedestrians walking to Center City would exit at 30th Street.

[TechTalkGuy]

Has it ever occurred to anyone that commuters exiting 30th Street could be heading to Drexel?

Perhaps they want to exit on the west side.

Also, who cares?

[Macedonia is Greek]

Today I was on a delivery in my old stomping grounds. My former digs where at the old school board building of Philadelphia. In my opinion one of the best buildings in the whole city as far as rental apartments.
At any rate I was driving down 23rd street and there it was!! The huge parking lot that floods when the river gets over saturated was fenced off and there where a couple crews testing the grounds. It literally made my mood lift automatically.
What is being developed in that space ?
Because if I remember correctly that once was a proposed site for a “city center” type of project.I wish that had never fallen through. But nonetheless it’s good to see movement there, that neighborhood will he complet when that lot fills.

[GtownFriend]

Originally Posted by Macedonia is Greek

At any rate I was driving down 23rd street and there it was!! The huge parking lot that floods when the river gets over saturated was fenced off and there where a couple crews testing the grounds. It literally made my mood lift automatically.
What is being developed in that space ?

See the River Walk thread, http://forum.skyscraperpage.com/showthread.php?t=210203&page=26

[Nova08]

In Philadelphia budget proposal, Kenney calls for tax hikes to cover school deficits

https://www.bizjournals.com/philadelphia...budget-kenney-property-tax-transfer.html

To make the math work, the mayor is proposing four major revenue streams:
-6 percent property tax increase that would generate $475 million;
-an increase in the real estate transfer tax to add $66 million;
-an increase in the city’s annual contribution to the school district that would add $20 million a year and $100 million over the next five;
-a slowdown in planned wage tax reductions that would save $340 million. That $340 million would then be diverted to the school district.

Well this seems like the opposite way that we hoped things would go.

[mcgrath618]

A 6% property tax increase? He's going to dissuade Amazon from coming here! I highly disagree with this proposal.

[Knight Hospitaller]

Not a good idea with the $10K cap on state and local tax deductions on federal returns beginning this year.

[mcgrath618]

AND a slowdown on wage tax reductions? Jesus, it's like he wants to drive out jobs.

[iheartphilly]

^
I can see the balance shift with new applicants in the process of thinking of buying or renting. With this and the 10k cap, it really disincentives ownership, especially homes at the high end of the market.

[iamrobk]

Just doing some real quick and dirty math, as someone with a property tax abatement my property taxes would go from ~$54 a month to ~$57 a month. Obviously worse for people without abatements, but if they keep the property tax abatement in place as it is now, I don't see this having an effect on new development and renovation, although it will further squeeze long-term existing homeowners.

It'll be interesting to see what happens with this budget proposal though.

[PHL10]

Originally Posted by mcgrath618

AND a slowdown on wage tax reductions? Jesus, it's like he wants to drive out jobs.

It's for the children! I guess the soda tax didn't work but at the same time, won;t go away either. They can raise property taxes again, then maybe a 5% surcharge on all restaurant bills, then maybe a surcharge for Philadelphia residents on the annual vehicle registration fees, then maybe another 0.5% on the existing sales tax surcharge, then maybe......

[iheartphilly]

Originally Posted by PHL10

It's for the children! I guess the soda tax didn't work but at the same time, won;t go away either. They can raise property taxes again, then maybe a 5% surcharge on all restaurant bills, then maybe a surcharge for Philadelphia residents on the annual vehicle registration fees, then maybe another 0.5% on the existing sales tax surcharge, then maybe......

Tax and spend baby. When is enough going to be enough? I'm all for education, but it seems like it to them that more money will solve more problems that are self-created...

[Boku]

Originally Posted by PHL10

It's for the children! I guess the soda tax didn't work but at the same time, won;t go away either. They can raise property taxes again, then maybe a 5% surcharge on all restaurant bills, then maybe a surcharge for Philadelphia residents on the annual vehicle registration fees, then maybe another 0.5% on the existing sales tax surcharge, then maybe......

The soda tax created pre k seats for 2,000 children, I'm sure their parents think it works.