PHILADELPHIA | Highrise Development Thread X

[TonyTone]

Also something I was thinking about earlier, if we were to compared our Rittenhouse Square to NYC is it comparable to NYC's Central Park area?

I think Rittenhouse Square is a great example of one of the Wealthiest areas in a city in America, it has everything from Highrises, a Park, expensive pedigrees being walked around and plenty of Taxis for that old money of course.

[TonyTone]

Originally Posted by 3rd&Brown

Are you talking about the newly annointed "Fishtown Crossing"?

I'm down with it. The Starbucks there has the nicest staff of any Starbucks I've ever been too. It's slammed all the time, and I wouldn't be surprised if you told me it was one of the busiest Starbucks in the country.

The IGA has expanded it's offering a lot. And the wine store within it is better than any of the nearby state stores. It has a very very good wine selection all things considered.

I sorta do my food shopping in waves. Round 1 is Lidl. Has good selection of vegetables, their fresh bread is amazing, and a surprisingly good selection of organic meat and dairy. It also has random name brand loss leaders that cost much more everywhere else (ex. Tates Cookies, Chobani yogurt, Philadelphia Cream Cheese, Tostitos, etc). If I don't get what I need there, I layer in a trip to Riverwards Grocery or Wholefoods. I use IGA to fill in on name brand condiments, seltzer (I only drink Vintage Seltzer and it's weirdly hard to find...IGA has it) and other sorts of consumer staples and mainstream things you can't get at the other 3.

So I guess you can say I love that shopping center. I also almost always get my car inspected at that PepBoys. I would probably never get my car repaired there but they are always above board on the inspection and don't play games with random shit that a dealership or independent owner would ding you for. I've never failed one.

Yea the IGA is where Ive been shopping since I moved in this year. I like it I just wasn't sure if prices are higher there or if inflation just has everything up, however im gonna check out ALDI and see what they got usually I shop for fresh foods at shop rite and then go to Walmart for boxed items and the other stuff you can find there, it's amazing that the whole strip of Aramingo has every single store you need in a 5 mile radius' it's a great area for everything and is improving everyday.

That shopping center is good they also have 6 vaccines according to the new sign so it's gonna be interesting to see what fills those spots up. That whole area is probably one of the busiest strips in the city.

[bdurk]

Originally Posted by TonyTone

Anyone ever notice that Comcast I does have Colored LED on the crown?

you can see it in person from all sides as well I though it was an optical illusion, or is it something else with mechanics for the building?

I noticed this a couple months ago too. Been lookin at it for years and never noticed it but I think it's pretty cool. Kinda wish they would do more colored light schemes on the Comcast buildings but this will do. Imagine a red 1,120 lightstick

[daninpa]

Originally Posted by TonyTone

Anyone ever notice that Comcast I does have Colored LED on the crown?

you can see it in person from all sides as well I though it was an optical illusion, or is it something else with mechanics for the building?

They were actually in use for a couple weeks(?), months(?) when the building opened in 2008. Here's a picture of them in red from PhillySkyline. I do remember seeing them in blue as well. Honestly, I think they look great and don't understand why they don't use them.

[summersm343]

Developers partner to create a 3 million square foot life science hub in South Philly’s Navy Yard

Two developers leading a major redevelopment push at the Navy Yard have partnered up with another to create a 3 million square foot life science hub at the former military base.

Mosaic Development Partners and Ensemble Real Estate Investments, who were chosen in 2020 for a 109-acre redevelopment plan at the Navy Yard, have joined up with Oxford Properties Group to jointly own and develop up to 3 million square feet of life science properties.

The agreement will see Oxford invest in five existing biotech buildings already owned by Ensemble Real Estate Investments and the two planned biotech buildings from Ensemble and Mosaic. Those two buildings ― a lab and office building and a drug-manufacturing plant ― are part of the first phase of development under the deal that Ensemble and Mosaic have with the Philadelphia Industrial Development Corp., which manages the Navy Yard on the city’s behalf.

“Building a dedicated life science business of scale remains one of our highest conviction global investment strategies, and our teams continue to do so in a sustained, yet highly targeted fashion,” Chad Remis, Executive Vice President, North America at Oxford, said in a statement. “We have a similarly high conviction in Philadelphia, which we believe is poised to become a leading life science market due to the confluence of first-class educational and research institutions plus a rich ecosystem of innovative companies and talent whose growth is being powered by increasing levels of governmental and private funding.”

The planned 3 million square foot life science hub is all part of the sprawling $2.6 billion project that Ensemble and Mosaic have already begun work on. The developers have also committed $1 billion to hiring workers and contractors from underrepresented groups and instituting other diversity measures over the next two decades.

Read more here:
https://www.inquirer.com/real-estate/nav...ent-mosaic-ensemble-oxford-20220301.html

[summersm343]

Why Ivanhoé Cambridge and Lendlease are partnering to develop life sciences space, including in Philadelphia

Two companies have teamed up to develop more life sciences space in various cities across the U.S., including Philadelphia.

Real estate investor Ivanhoé Cambridge is partnering with Lendlease, a property developer, builder and owner, to develop life sciences labs, offices and manufacturing space. The companies announced their new joint venture last week.

"For us, what we're trying to do is build a mini portfolio in the key life science markets across the U.S.," said Jonathan Pearce, executive vice president of leasing and development for North America at Ivanhoé Cambridge. "It's Boston, San Diego, San Francisco. There'll be some infill markets like Chicago, New York, Philadelphia, all to name a few."

Ivanhoé Cambridge, which is based in Montreal, and Lendlease, which has its headquarters in Australia and its U.S. base in New York City, first worked together to develop 60 Guest St. in Boston.

The strategy will be threefold, including ground-up development, conversions and build-to-suit projects.

"We're already starting to look at a number of opportunities. We're actually looking at right now one conversion and one ground-up," Pearce said.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...dge-lendlease-partner-life-sciences.html

[summersm343]

London-based Achilles Therapeutics picks Philadelphia for its first U.S. location

Achilles Therapeutics, a London-based biotech company, has selected Philadelphia as an entrée into the United States and leased space at 401 N. Broad St. in Center City.

The company, which is developing cancer therapies by using DNA sequencing from individual patients, signed a three-year lease on 7,243 square feet.

Achilles (NASDAQ: ACHL) joins Biomeme Inc. and NeuExcell Therapeutics at 401 N. Broad, which has more than 50,000 square feet of lab space leased and is helping to cast the North Broad Street corridor as another burgeoning hub for life sciences in Philadelphia.

A couple of blocks down from 401 N. Broad, Iron Stone Real Estate Partners has branded the former Hahnemann Hospital properties as Race Street Labs and is marketing it to life sciences companies. To the north, Temple University operates the Moulder Center for Drug Discovery Research, which is a center for developing the scientific discoveries of faculty members and scientists that has spun out several startups.

Achilles decided on Philadelphia because of the concentration of cell and gene therapy companies and research institutions as well as its abundance of talent. When exploring where to lease space, the company looked across the region, said Matthew Knowles of CBRE Inc., who along with Anthony Pell represented Achilles. That included Malvern, Exton, Spring House and King of Prussia in the suburbs, and University City and Center City in Philadelphia.

As for selecting 401 N. Broad, it came down to how quickly the company could secure space and move in along with the flexibility to do a three-year lease and grow within the building. “The key was to get up and running as fast as possible,” Knowles said.

“It’s no longer as if you have to be in University City. You can be on North Broad,” said Jerry Marshall, CEO of 401 N. Broad owner Netrality Data Centers.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...les-therapeutics-picks-philadelphia.html

[Boku]

Maybe this will be the one to get the BSL extension moving forward ha ha ha ha, just kidding

[EastSideHBG]

There's a fire in Two Liberty but I am hearing it's in the garage and a tow truck may have started it? Hopefully it can be contained quickly.

[TonyTone]

Originally Posted by daninpa

They were actually in use for a couple weeks(?), months(?) when the building opened in 2008. Here's a picture of them in red from PhillySkyline. I do remember seeing them in blue as well. Honestly, I think they look great and don't understand why they don't use them.

Wow so Comcast I does have lighting, Anyone know their systems email im gonna email them and refer that link you tagged, hopefully we will see them matching LIB 1 & 2 with the lighting schemes and maybe just maybe this will push them to update the LED for the Vape on Comcast II

[TK2001]

https://phillyyimby.com/2022/03/philly-yimby-observes-high-rise-construction-from-the-i-95.html

[Human Scale]

follow —> elevated.angles on insta. Incredible skyline vids and a really cool Timelapse of Arthaus

[Vince_]

No idea how likely this is, just thought I'd share the OCF images. Philadelphia is mentioned in a Virgin Hotel press release though.
https://www.ocfrealty.com/naked-philly/rittenhouse/virgin-hotel-coming-to-broad-lombard

[Urbanthusiat]

^^woah that'd be crazy. Looks great, hope it happens!

[skyhigh07]

The F?? Did not see this coming.

Summers, is this the mysterious project you were referring to a few weeks ago?

[iheartphilly]

^^^
Isn't it too early for an April fool's joke, that OCF usually duped us yearly...LOL.

[TempleGuy1000]

Just to add to the excitement, the news release that OCF mentions is pretty specific:

https://www.prnewswire.com/news-releases...to-coast-openings-in-2021-301219271.html

Cities with forthcoming new development include Philadelphia as well as Glasgow, Cannes, and Ibiza.

Locations in Las Vegas, New York, New Orleans, Miami, and Edinburgh to follow. Virgin Hotels continues to explore hotel and office conversions and ground-up development in Philadelphia, Boston, Los Angeles, Austin, Seattle, and London.

[summersm343]

Looks fantastic! Build it! This matches reports I’ve seen of Goldenberg planning 2 towers here.

[summersm343]

Originally Posted by skyhigh07

The F?? Did not see this coming.

Summers, is this the mysterious project you were referring to a few weeks ago?

Nope. Project I mentioned will be over 500 feet tall and is not related to this project.

[ScreamShatter]

I’m surprised by the location for that Virgin Hotel. I would have thought Del Ave next to Penn’s Landing park would have been a good fit.