PHILADELPHIA | Highrise Development Thread X

[Redddog]

Originally Posted by mcgrath618

?

The answer is in the article.

[summersm343]

Originally Posted by Redddog

The answer is in the article.

What do you mean? The new 500+ foot tower I was referring to is not a rendering we've seen before. It'll be a new project.

[Skintreesnail]

Originally Posted by summersm343

Chicago and N.Y. development firms plan new lab-and-office tower in U. City life-science hotbed



Read more here:
https://www.inquirer.com/business/sterli...lab-building-life-sciences-20220201.html

Is it strange that Brandywine isn't taking advantage of the demand by fast-tracking some of the SY development?

[summersm343]

Originally Posted by Skintreesnail

Is it strange that Brandywine isn't taking advantage of the demand by fast-tracking some of the SY development?

Yes. Not sure what they're waiting on. 3151 Market should be starting at the least. I would imagine 3001 JFK also has some floors with large enough floor plates for life sciences needs.

[Mayormccheese]

Originally Posted by Skintreesnail

Is it strange that Brandywine isn't taking advantage of the demand by fast-tracking some of the SY development?

I was thinking the same. We keep seeing articles mentioning the lack of lab space as well as demand and I’m wondering why they’re not building bigger or fast tracking new buildings

[mcgrath618]

Originally Posted by Redddog

The answer is in the article.

It really isn't though... all of the projects in the article are ones we already knew about...

Originally Posted by CleetMcDougle

Have we heard about this yet?

Chicago and N.Y. development firms plan new lab-and-office tower in U. City life-science hotbed

"A consortium of Chicago- and New York-based real estate developers plans to acquire land at 38th and Chestnut Streets to build high-tech offices and labs in a bet that University City will remain an epicenter for the nation’s booming life-sciences industries.

Sterling Bay and Harrison Street of Chicago and New York-based Botanic Properties are forming a venture to acquire the 3801 Chestnut St. site, currently home to Abner’s Cheesesteaks and other shops, for development into a 13-story, 310,000-square-foot office tower for life-science tenants, the companies said ahead of a planned announcement of the tie-up Tuesday."

This is one of the developments that Aaamazarite was teasing like, a year ago. Awesome.

[bdurk]

Originally Posted by CleetMcDougle

Have we heard about this yet?

Chicago and N.Y. development firms plan new lab-and-office tower in U. City life-science hotbed

"A consortium of Chicago- and New York-based real estate developers plans to acquire land at 38th and Chestnut Streets to build high-tech offices and labs in a bet that University City will remain an epicenter for the nation’s booming life-sciences industries.

Sterling Bay and Harrison Street of Chicago and New York-based Botanic Properties are forming a venture to acquire the 3801 Chestnut St. site, currently home to Abner’s Cheesesteaks and other shops, for development into a 13-story, 310,000-square-foot office tower for life-science tenants, the companies said ahead of a planned announcement of the tie-up Tuesday."

if they take Abner's away from me I WILL RIOT

[Redddog]

Originally Posted by summersm343

What do you mean? The new 500+ foot tower I was referring to is not a rendering we've seen before. It'll be a new project.

My bad. You're no cheeky monkey.

[chimpskibot]

Anybody see this?

https://www.bizjournals.com/philadelphia...ealths-762m-specialty-care-pavilion.html

Looks like 200 Spring Garden St. and 412 N. 2nd St are expected to commence in the spring? According to a previous article they expect to continue developing into NoLibs in three phases again?

per the article:

National’s next project is in Northern Liberties, where it is partnering with KRE Group on a $500 million, 1-million-square-foot mixed-use development along North 2nd Street between Spring Garden and Callowhill streets.

That development will be built in three phases of which the first is expected to begin at the end of the first quarter or beginning of the second quarter, Killinger said. It will involve constructing two apartment buildings — one at 200 Spring Garden St. and the other at 412 N. 2nd St. — and have a combined 750 units.

[McBane]

$500m for 750 units stuck out to me, esp since it won't have the extra expense associated with skyscraper construction. I checked 1001 S. Broad as a comparison and that project costs the same but will yield 33% more units and 50% more square footage. Just interesting to note.

[3rd&Brown]

Originally Posted by McBane

$500m for 750 units stuck out to me, esp since it won't have the extra expense associated with skyscraper construction. I checked 1001 S. Broad as a comparison and that project costs the same but will yield 33% more units and 50% more square footage. Just interesting to note.

The same article says it will be built in 3 phases. These two buildings are Phase 1. The total likely accounts for other yet unannounced phases. (They owned all but one of the parcels on 2nd between Callowhill and Spring Garden the last time I checked).

[MAF1968]

NWC 23rd & Walnut. Parking lot with a Rite Aid. Nice spot for a 500' er...I was also thinking NWC 22nd & Walnut (Sunoco gas station) but thought I saw something about a development planned there.

[700 Level]

Originally Posted by MAF1968

NWC 23rd & Walnut. Parking lot with a Rite Aid. Nice spot for a 500' er...I was also thinking NWC 22nd & Walnut (Sunoco gas station) but thought I saw something about a development planned there.

That would be awesome at 23rd and Walnut. So while we're at it, I'll throw in a far out-of-the-money long shot pick: a revived proposal at 2401 Walnut Street . . . where the legendary 600 foot Mandeville Place was once proposed.

[700 Level]

Originally Posted by Skintreesnail

Is it strange that Brandywine isn't taking advantage of the demand by fast-tracking some of the SY development?

I do not understand Brandywine's timid approach. If a fraction of what we read about the Life Science market is correct, Brandywine could build out the most desirable new Life Sciences campus available anywhere in the country. Emerging companies would flock to this sort of hub - it would be preferable to KOP, Navy Yard, Washington West, Bellweather, and all of the other locations that are racing to fill the void. The only thing that I can think of is all these other developers are comfortable moving forward with the knowledge that the overall demand for Life Sciences is there, but without knowing the specifics of who it will be and without firm commitments. Brandywine is hesitant to move forward without the specific, company specific commitments. As a result, Brandywine is getting lapped.

[arkitect13]

Ya right? I always thought the east tower could be a mixed purpose building too. Life sciences, commercial/hotel uses would work because of its proximity to 30th street and Center city, Residences could always happen too. But who knows what they want. Besides didn't they say they had a tenant or 2 lined up?

[iamrobk]

Originally Posted by 700 Level

That would be awesome at 23rd and Walnut. So while we're at it, I'll throw in a far out-of-the-money long shot pick: a revived proposal at 2401 Walnut Street . . . where the legendary 600 foot Mandeville Place was once proposed.

[PurpleWhiteOut]

Penn's new patient pavilion had their lighting scheme on again, and I THINK it's the first time I've seen it in red. It still doesn't quite wrap around the whole building, but the lights look much closer to being finished. To be fair, it is a LOT of surface area.

[iheartphilly]

^
I like it. Should now be dubbed the City of Penn.

[towerpower123]

Are there any plans to break up that Penn superblock? There are exactly 2 ways to walk there, either along the new Penn Tower and the stadium, or the other side past the VA hospital

[PurpleWhiteOut]

Originally Posted by towerpower123

Are there any plans to break up that Penn superblock? There are exactly 2 ways to walk there, either along the new Penn Tower and the stadium, or the other side past the VA hospital

The river and railway make it basically impossible from the South. I think a Penn mockup plan included another pedestrian bridge, but I don't remember if it's close to the health campus or the school. At this point between Penn's SW campus edge and the hospital campuses, there is no room to run any roads or paths through that don't already exist. From the North, there are actually a few more creative ways into the area if you get familiar with the service roads, walkways, and parks eg going through Kaskey Park to Guradian and E Service Drive