PHILADELPHIA | Highrise Development Thread IX

[Philly Fan]

[iheartphilly]

Originally Posted by jsbrook

Condo fees will be around $1.00-$1.10 per square foot, which is in line with 10 Rittenhouse and 1706 Rittenhouse.

Thanks...all good stuff!

[iheartphilly]

Re: Amazon HQ2

It's like going from "maybe" to "difinitely maybe." The more we perpetuate this, the more white noise it becomes. Let's wait for the official announcement. The only leaks we should be doing is in our bathrooms...LOL.

[El Duderino]

Harold, you can't play games with a forum's heart like that...

[Urbanthusiat]

Originally Posted by iamrobk

Harold Epps, commerce director at hearing just now on Amazon:
“We will say we are more encouraged by our chances than we would have been the last time I was in front of you...They have been recent and we are encouraged."

https://twitter.com/JuliaTerruso/status/1004446678471102466

������

Need more context. I'm not sure exactly what he is talking about here. I get the tweet is from an Inquirer reporter, but I'd like to know what this was in response to.

Edit: I misunderstood who the speaker was. Thought it was a rep for Amazon, not the city.

[Philly Fan]

Originally Posted by Urbanthusiat

Need more context. I'm not sure exactly what he is talking about here. I get the tweet is from an Inquirer reporter, but I'd like to know what this was in response to.

I would guess that he was responding to a question about how recently Amazon has communicated or met with him and/or his team, and perhaps how encouraging those interactions have been.

[City Wide]

Originally Posted by jsbrook

The condos themselves will all be amazing. With high end finishes, great views (current plan to start condos on the 32nd floor but may be high 20s), balconies, optional fireplaces. Two amenity decks; condo owners can also use the apartment deck (but apartment users can't use the condo amenity deck). Indoor pool and outdoor pool, grilling area, Peloton room, Yoga room, private spa for residents, chef and demonstration kitchen. It's gonna be sick. I may buy. There are some commitments. Seems on track to get the final ones for 2019 groundbreaking.

Floor plans?

[City Wide]

Originally Posted by Philly Fan

I would guess that he was responding to a question about how recently Amazon has communicated or met with him and/or his team, and perhaps how encouraging those interactions have been.

There might very well be 19 other spokes people making similar statements in the other 19 cities. It's sortof expected that they make this type of positive statement if they are going to say anything at all.
In these vague situations think about other possible answers----even if this was true would he dare say it, "neither myself nor the team has officially heard from Amazon since they visited, but based on our contacts we are very doubtful of Philly being picked."

[Milksteak]

Originally Posted by City Wide

There might very well be 19 other spokes people making similar statements in the other 19 cities. It's sortof expected that they make this type of positive statement if they are going to say anything at all.
In these vague situations think about other possible answers----even if this was true would he dare say it, "neither myself nor the team has officially heard from Amazon since they visited, but based on our contacts we are very doubtful of Philly being picked."

"We will say we are more encouraged by our chances than we would have been the last time I was in front of you because another week has gone by without us being eliminated"

[jsbrook]

Originally Posted by City Wide

Floor plans?

I saw 3 of them. I think I reported on these awhile back. 2 BRs start just under 2,000 square feet. There are also 3 BRs of around 2,200 square feet (the third is currently an office, but I believe they are going to redo as a BR) and 2,500 square feet. A couple half floors of over 4,000 square feet and 2 penthouses of over 8,000 square feet.

[GtownFriend]

Originally Posted by Philly Fan

I would guess that he was responding to a question about how recently Amazon has communicated or met with him and/or his team, and perhaps how encouraging those interactions have been.

He was responding to a question from Daryll Clarke in a Council Session about the status of Philly's Amazon bid.

Clarke asked Epps whether he had reason to believe Amazon was still considering Philadelphia. Epps evaded, saying, "We have had recent conversations. I can only say we are more encouraged."

http://planphilly.com/articles/2018/06/0...tration-officials-blast-construction-tax

[Tatts]

Well, having recently spent a few days in Atlanta (for the first time in a couple of decades), I'm not surprised to see that they have been dropped from consideration. And if that post above was wrong, I still wouldn't be surprised. Downtown Atlanta (near The Gulch, one of the sites the city proposed) is a dead zone at all hours, especially around their marquee hotels Westin/Hyatt/Marriott/Hilton and Olympic Park. It feels more like Wilmington on a Sunday than a big city. There's no life--nothing but restaurants for conventioneers (which is why I was there). At lunch time on week days (and beautiful weather) I'd be surprised if you could find 20 people on a block at one time.

There's no new construction, it's as though the downtown was frozen in time 20 years ago. It's run down and depressing.

Amazon doesn't want that. Amazon employees don't want that. Nobody wants that (as evidenced by their dead downtown).

[hammersklavier]

This is a Philadelphia thread. Please do not discuss other cities here.

[kingtut]

Originally Posted by skyscraper

the latest & greatest, and I think I can say this now, is that it will no longer be called the SLS Tower because SLS has pulled out of the project as the hotel operator. So there will be no hotel component to it. It will just be residential, and probably a few stories shorter. The final floor count is still not finalized, but it will likely be around 550' tall, maybe slightly less. The massing will be similar, there will still be a podium, but it will be a little shorter and contain the amenities floors instead of the hotel.
For now it is just being referred to by its address, 311 South Broad.

This project reminds me of Zeno's Paradox , an infinite amount of ever smaller steps forward .

[nimshady]

So I work at Septa and heard 3 things that might interest yall. Don't know how reliable they are but I did hear them. First Comcast 3 is definitely going to happen which I think most people suspected. Second the apartment building going up at 21st and Hamilton should start construction before the summers end. Third that there should be a 35 story tower atop the gallery will start construction once the gallery is finished renovation.

[skyscraper]

Originally Posted by nimshady

So I work at Septa and heard 3 things that might interest yall. Don't know how reliable they are but I did hear them. First Comcast 3 is definitely going to happen which I think most people suspected. Second the apartment building going up at 21st and Hamilton should start construction before the summers end. Third that there should be a 35 story tower atop the gallery will start construction once the gallery is finished renovation.

2) and 3) are nice bits of info, especially about the 35 story apartment building atop the gallery. It was always designed to have towers, so great that they're finally doing that.
But you're not going to get off that easy regarding Comcast 3. Details please! any idea on height, location, time line, architect-?
You don't need to reveal your source, just be sure that they are reasonably reliable please.

[jsbrook]

Originally Posted by nimshady

So I work at Septa and heard 3 things that might interest yall. Don't know how reliable they are but I did hear them. First Comcast 3 is definitely going to happen which I think most people suspected. Second the apartment building going up at 21st and Hamilton should start construction before the summers end. Third that there should be a 35 story tower atop the gallery will start construction once the gallery is finished renovation.

Nice I wish they would rip off the hideous cladding on the top portion of the Gallery as part of the tower build.

[Milksteak]

Originally Posted by jsbrook

Nice I wish they would rip off the hideous cladding on the top portion of the Gallery as part of the tower build.

Not a fan of 'Prison Yard Chic'?

[TempleGuy1000]

Some renovation news

Ackman to Put Gains From Luxury Apartments Into Pershing Buyback - Bloomberg

While Bill Ackman has suffered losses as a Wall Street stock picker, he’s thrived as a Philadelphia landlord.

The hedge fund manager personally holds a majority stake in Rittenhouse Hill, a luxury apartment complex that’s one of the largest in Philadelphia, according to a May regulatory filing that first disclosed his ownership. The property, with about 625 units, has jumped in appraised value since he teamed up with the Pestronk brothers to buy it in 2011.

Now he’s employing Rittenhouse Hill as part of an effort to revive his $8.1 billion activist hedge fund after three years of losses.
Ackman, an activist investor known for launching proxy campaigns within corporate board rooms, recently took out $9 million of equity through a refinancing of the property. Additionally, together with the Pestronk brothers, Ackman is said to have spent $59 million — primarily financed through borrowings — to gut the twin high rises and transform them into luxury apartments.

The buildings were recently appraised at $178 million.

Also in that part of the city, the Schoolhouse Apartments have been renovated and had its name changed.

$20M redevelopment complete at East Falls complex - Philadelphia Business Journal

GoldOller Real Estate Investments has completed a $20 million redevelopment of an apartment property in the East Falls section of Philadelphia that was once known as School Lane House but has now been rebranded as the Avenue at East Falls as part of its overhaul.

When GoldOller bought the 512-unit complex at 5450 Wissahickon Ave. for $56 million in October 2016, it had been known by yet another name — Charter Court at East Falls. This marked GoldOller’s first acquisition in Philadelphia.

[iheartphilly]

Anyone got the latest scoop on the Toll Brothers Jewelers Rows project?