PHILADELPHIA | Lowrise/General Developments Thread

[cardeza]

Originally Posted by ScreamShatter

I’m not pointing fingers or assigning fault. What I am saying is that as a result of the way Phillys government conducted that reassignment of property values, it lead to a significant tax payout for many residents. And at the same time, Philly cut abatements added consumption taxes and the federal government changed tax code to reduce the local deductions.

All of this, collectively, means people are paying a higher % of their income to taxes. And that’s before factoring inflation pains.

property assessments have been frozen for like 3-4 years due to all the issues with the new Computer appraisal system. When AVI was rolled out years ago the rate was cut and all kinds of protections were put in place such as the homestead exemption. If there is a fair and constantly updates system there is no guarantee that tax bills will be frozen as property values increase. It has already been stated that they will look at reducing other levies or increasing homestead exemption later this year. Reducing the tax abatement affects very few home owners and the reality is many people who dont live in abated homes have long been calling for that perk to be reduced. There is not a ton of sympathy for those with the 10 year abatement- whether people want to admit that or not.

As for the sugar tax, for all the gnashing of teeth over that I have to say it really hasnt changed my life or my purchasing patterns in any way. At the time it was proposed it was being hailed as a major threat to the future of the city and an assault on poor people's right to have cheap soda. I rank the sugar tax about 50th on the list of issues plaguing Philadelphians.

[cardeza]

Originally Posted by summersm343

Guys… geez. Why are we still arguing over this? You guys are really reading into one line WAY too deeply. I don’t think anybody truly believes that Philadelphia got into this position by taxes that the city implemented… there are obviously many, many factors that contributed including de-industrialization, suburbanization, so on and so forth.

The reality is though that current taxes, primarily businesses taxes, are holding the city back and are preventing job growth. One has to look no further than City Avenue where all the businesses and companies are located just across Philadelphia’s borders in Bala Cynwyd. The wage tax certainly doesn’t help either with attracting residents.

I’m not sure who could disagree that Philadelphia needs to revamp its tax structure. I’m not sure what the argument is about.

revamp to what? every change creates winners and losers- there is no revamp that will leave everyone happy and with low taxes while also providing the city with the money it needs. Not going to happen. So tweaks and new ideas are fine, but lets not act like there is any panacea out there. Many have advocated for Philly to shift to higher property taxes to lower the wage tax- many would disagree with that "reform"- especially people who are retired and are not really paying the wage tax. There is no reform where everyone wins.

[nemesisinphilly]

Demo permits pulled today for the Anastasi's site project at 1101 S 9th. Hopefully will move quickly from here. This is a Midwood Investment project.

[ScreamShatter]

Originally Posted by cardeza

property assessments have been frozen for like 3-4 years due to all the issues with the new Computer appraisal system. When AVI was rolled out years ago the rate was cut and all kinds of protections were put in place such as the homestead exemption. If there is a fair and constantly updates system there is no guarantee that tax bills will be frozen as property values increase. It has already been stated that they will look at reducing other levies or increasing homestead exemption later this year. Reducing the tax abatement affects very few home owners and the reality is many people who dont live in abated homes have long been calling for that perk to be reduced. There is not a ton of sympathy for those with the 10 year abatement- whether people want to admit that or not.

As for the sugar tax, for all the gnashing of teeth over that I have to say it really hasnt changed my life or my purchasing patterns in any way. At the time it was proposed it was being hailed as a major threat to the future of the city and an assault on poor people's right to have cheap soda. I rank the sugar tax about 50th on the list of issues plaguing Philadelphians.

Appreciate your perspective. Nothing you nor I have said has been contradictory to each other. My point was saying Phillys tax rates have been frozen or decreasing doesn’t fully show the reality that out of pocket taxes have gone up for many people. That’s a fact.

[chimpskibot]

Originally Posted by nemesisinphilly

Demo permits pulled today for the Anastasi's site project at 1101 S 9th. Hopefully will move quickly from here. This is a Midwood Investment project.

Midwood was also supposed to develop the lot on 12th street in the Gayborhood. Hopefully they dont leave another vacant lot.

[nemesisinphilly]

Originally Posted by chimpskibot

Midwood was also supposed to develop the lot on 12th street in the Gayborhood. Hopefully they dont leave another vacant lot.

They take their time but it gets done. They own over 30 properties in Philadelphia including a big chunk of Rittenhouse Row.

Here are their holdings in Philadelphia to those interested:

​​1525 WALNUT STREET
1608 WALNUT STREET
1615 WALNUT STREET
1627 WALNUT STREET
1712 WALNUT STREET
1716 WALNUT STREET
1715-1717 WALNUT STREET
1719-1721 WALNUT STREET
1723-1729 WALNUT STREET
1530 CHESTNUT STREET
1616 CHESTNUT STREET
1701-1705 CHESTNUT STREET
1725 CHESTNUT STREET
1729 CHESTNUT STREET
1734-36 CHESTNUT STREET
2001 CHESTNUT STREET
2000-02 SANSOM STREET
123 SOUTH 16TH STREET
901 CHRISTIAN STREET
1701-05 EAST PASSYUNK AVENUE
202-204 SOUTH 12TH STREET
304 SOUTH STREET
306 SOUTH STREET
308 SOUTH STREET
524 SOUTH STREET
526 SOUTH STREET
530 SOUTH STREET
534-36 SOUTH STREET
538 SOUTH STREET
540 SOUTH STREET
700 SOUTH STREET
706 SOUTH STREET

[PhilliesPhan]

Looks like we finally have some action at 2nd and Vine:

ZP-2022-001706
Apr 4, 2022
160-64 N 2ND ST, Philadelphia, PA 19106-1912
160-164 N 2ND STREET LP 1

1. Complete demolition of existing structure. 2.Construct one attached, 6-story structure for uses as follows: (a) Floors Cellar and 1: 2 commercial spaces - vacant (b) Floors 2-6: 6 single family residential dwelling units (c) Roof: Accessory roof deck with access structures 3. With required 2 off-site street parking spaces being provided at 304 Race Street - see ZP-2022-001616. 4. With related building and site improvements, all as per submitted plans, M Architects LLC, 2/18/2022

[3rd&Brown]

Originally Posted by cardeza

property assessments have been frozen for like 3-4 years due to all the issues with the new Computer appraisal system. When AVI was rolled out years ago the rate was cut and all kinds of protections were put in place such as the homestead exemption. If there is a fair and constantly updates system there is no guarantee that tax bills will be frozen as property values increase. It has already been stated that they will look at reducing other levies or increasing homestead exemption later this year. Reducing the tax abatement affects very few home owners and the reality is many people who dont live in abated homes have long been calling for that perk to be reduced. There is not a ton of sympathy for those with the 10 year abatement- whether people want to admit that or not.

No one's saying real estate taxes should be frozen. We're saying the yearly re-assessments shouldn't be used as a means of surreptitiously passing a tax increase without public debate.

To use nice round numbers, if this year the city has 100,000,000 in taxable property and values go up 15% this year, we're simply saying that doesn't automatically give the city the right to collect another 15,000,000 in Property Taxes. It can update the assessments for sure, but it should reduce the tax rate so that the total revenue receipts are balanced.

I see one exception. Net new property. This is an obvious "add" to the revenue base. In year 1, it is aggregate new revenue for the city and then thereafter it can be combined into the existing pool. In recalculating the tax rate, new property would get excluded in the calculation in the first year of its existence and in effect, increase overall receipts for the city.

[Knight Hospitaller]

The Divine Lorraine to become a hotel again:

https://billypenn.com/2022/04/04/divine-...ion/?mc_cid=c4f6d00474&mc_eid=e92c831b61

[Vince_]

It seems as though the developer is saving the street trees at the 2nd and Christian project. I wish more developers would take note of this. Any project will be more desirable with mature trees. New York City has a whole street tree construction protection protocol: https://www.nycgovparks.org/pagefiles/84...-permits-and-plan-review-spring-2015.pdf

Meanwhile our useless city council is debating a Ukrainian no-fly zone...






https://phillyyimby.com/2022/04/site-cleared-at-841-51-south-2nd-street-south-philadelphia.html

[PHL10]

Originally Posted by Knight Hospitaller

The Divine Lorraine to become a hotel again:

https://billypenn.com/2022/04/04/divine-...ion/?mc_cid=c4f6d00474&mc_eid=e92c831b61

I feel bad for the current residents but I suppose this is a good thing.

Maybe City Council should draft legislation that states the property can't be used as a hotel?

[summersm343]

Permits Issued For 141-43 North 4th Street In Old City

Elevation Renderings:





Project Massing:



Aerial of current site:

Permits have been issued for a large multi-family development at 141-43 North 4th Street in Old City. Designed by Designblendz, the project includes the complete renovation of the existing four-story building on site. A portion of this building will see a one-story overbuild, while a six-story addition will be constructed at 319 Cherry Street, holding six residential units. There will be 36 residential units in total, with ten bike spaces and 13 parking spaces also included. In total, the square footage of the building will more than double, increasing to 37,566. Construction costs are estimated at $2,860,000.

Read/view more here:
https://phillyyimby.com/2022/04/permits-...-4th-street-in-old-city-center-city.html

[summersm343]

Construction Underway At 943-49 Washington Avenue In Bella Vista

Construction is underway at 943-49 Washington Avenue in Bella Vista, South Philadelphia. An extension will be added to the structure, which will stand a total of five stories tall upon completion and contain 24 residential units. The permit lists TBC LLC as the contractor, with Lonny Rossman as the design professional. The building will hold 29,535 square feet of space and cost an estimated $4.2 million to build.

Read/view more here:
https://phillyyimby.com/2022/04/construc...ashington-avenue-south-philadelphia.html

[summersm343]

Broad Street Flats Topped Out At 701 South Broad Street In Hawthorne





Read/view more here:
https://phillyyimby.com/2022/04/broad-st...eet-in-hawthorne-south-philadelphia.html

[summersm343]

21-Unit Condo Topped Out At 2209 North Broad Street Near Temple University In North Philadelphia



Read/view more here:
https://phillyyimby.com/2022/04/2209-11-north-broad-street.html

[summersm343]

Originally Posted by Vince_

It seems as though the developer is saving the street trees at the 2nd and Christian project. I wish more developers would take note of this. Any project will be more desirable with mature trees. New York City has a whole street tree construction protection protocol: https://www.nycgovparks.org/pagefiles/84...-permits-and-plan-review-spring-2015.pdf

Meanwhile our useless city council is debating a Ukrainian no-fly zone...






https://phillyyimby.com/2022/04/site-cleared-at-841-51-south-2nd-street-south-philadelphia.html

Love to see it!

[skyhigh07]

I’m sorry, but this is nuts. Indoor mask mandates would hamper the momentum the city is experiencing right now. Definition of insanity. I can’t believe we’re still talking about this. It’s been over two years.

https://www.inquirer.com/health/coronavi...strictions-vaccine-mandate-20220405.html

[summersm343]

Posted by RM Development on Facebook

We have two new developments rising up in Chinatown on 12th Street.
225-227 N 12th Street & 245 N 12th Street!
Follow along as we continue to provide updates on construction!

https://www.facebook.com/rmdevelopmentpartners/posts/364474842356477

[summersm343]

Originally Posted by Knight Hospitaller

The Divine Lorraine to become a hotel again:

https://billypenn.com/2022/04/04/divine-...ion/?mc_cid=c4f6d00474&mc_eid=e92c831b61

I'm OK with this. The area is exploding.

[summersm343]

^^The Divine Lorraine is ending apartment leases as it turns into a ‘managed hotel property’

The Divine Lorraine — the historic landmark on North Broad that’s been filled with apartments since January 2017 — is turning into a hotel again, per a message sent by management to building residents.

The 10-story Beaux Arts building at 699 N. Broad St. has cycled through numerous uses since its construction in the 1890s: apartments, a hotel, a home for a religious movement, an abandoned spot frequented by urban explorers, and apartments again.

Now, it’s looking like it will be a hotel once more, with the primary use matching the glowy red sign on the top of the building. Residents received email notifications over the weekend that their current leases are not eligible for renewal, as the property is transitioning to “managed hotel property” in “the coming months.”

Read more here:
https://billypenn.com/2022/04/04/divine-...ion/?mc_cid=c4f6d00474&mc_eid=e92c831b61