PHILADELPHIA | Highrise Development Thread X

[mcgrath618]

Originally Posted by pj3000

How 'bout sending one of these to Pittsburgh? Whichever one you like least even. You won't miss it.

The Standard is ALL YOURS. Take it, please.

I'll be on AMTK 43 to your city tomorrow. Planning on meeting a friend at that burger chain in your area.

[pj3000]

Originally Posted by mcgrath618

The Standard is ALL YOURS. Take it, please.

I'll be on AMTK 43 to your city tomorrow. Planning on meeting a friend at that burger chain in your area.

Even though we have a few smaller versions of its hideousness, we'll take it!

Burger chain, hmmm... Burgatory? BRGR? Those are the 2 local burger chains I can think of.

[mcgrath618]

Originally Posted by pj3000

Even though we have a few smaller versions of its hideousness, we'll take it!

Burger chain, hmmm... Burgatory? BRGR? Those are the 2 local burger chains I can think of.

Burgatory. That's the one.

[summersm343]

Philly is headed for an economic recovery but leaders say it’s key to cut wage taxes and red tape

Write up from the Inky on the Center City District Report. A good read if you don't want to read the entire report:

https://www.inquirer.com/business/philadelphia-taxes-policy-jobs-state-of-the-city-20220505.html

[PHLtoNYC]

Originally Posted by summersm343

Philly is headed for an economic recovery but leaders say it’s key to cut wage taxes and red tape

Write up from the Inky on the Center City District Report. A good read if you don't want to read the entire report:

https://www.inquirer.com/business/philadelphia-taxes-policy-jobs-state-of-the-city-20220505.html

Generally good news and a positive trajectory.
But of course, taxes, jobs, and crime are front and center for problems to address. Let's hope for some sensible plans coming out of City Hall.

[kool-ski]

Demolition Permit issued today for, i believe, most of the site of the atrocious auto repair shop & strip of low rise retail stores where the proposed 13-story, 181 unit planned building is supposed to rise at 48th & Spruce Streets.

DEMOLITION PERMIT:
DP-2022-000392
Type of Work: Major Demolition

FOR THE COMPLETE DEMOLITION OF ALL STRUCTURES AT 4726-48 SPRUCE STREET. STRUCTURES TO BE DEMOLISHED BY MECHANICAL EQUIPMENT. PEDESTRIAN PROTECTION TO BE IN PLACE PRIOR TO START OF WORK AND TO BE MAINTAINED DURING ALL DEMOLITION ACTIVITIES

https://eclipse.phila.gov/phillylmsprod/...sentation=Public&PosseObjectId=453161748

[kingtut]

https://www.bizjournals.com/philadelphia...hia-venture-capital-funding-q1-2022.htmlI would call this as proof that Philly is an international knowledge center .http://https://www.bizjournals.com/phila...hia-venture-capital-funding-q1-2022.html

[summersm343]

Philadelphia region's 71% increase in VC funding easily tops all major U.S. markets during 1Q

Philadelphia-area startups saw the greatest percent increase in venture capital funding in the first quarter, according to analytics firm CB Insights, an increase that more than doubled any other major metropolitan region.

Greater Philadelphia was one of three regions where venture capital funding didn't drop from the fourth quarter of 2021. Also seeing increases were Atlanta, up 30%, and Dallas, up 18%.

Funding going to Philadelphia-area startups rose 71% in the first three months of 2022 to $1.5 billion, up from $874 million in the fourth quarter of last year.

The first-quarter figure was bolstered by a $350 million investment from SK Inc. in King of Prussia's Center for Breakthrough Medicines. The investment accounted for nearly a quarter of the region's total funding. Wilmington, Delaware, fintech lending and credit operator Marlette Funding and Philadelphia data analytics firm dbt Labs both added late-stage rounds of over $220 million.

Across the 80 deals made with Philadelphia-area startups, 55% were early-stage rounds and another 10% were late-stage investments.

While Philadelphia saw its funding skyrocket compared to the fourth quarter of 2021, neighboring cities and many of the nation's tech hubs posted declines.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...hia-venture-capital-funding-q1-2022.html

[Knight Hospitaller]

Originally Posted by summersm343

Philly is headed for an economic recovery but leaders say it’s key to cut wage taxes and red tape

Write up from the Inky on the Center City District Report. A good read if you don't want to read the entire report:

https://www.inquirer.com/business/philadelphia-taxes-policy-jobs-state-of-the-city-20220505.html

Another "Rendell moment?" Puh-lease. Any success cannot be attributed to the current governmental clown show.

[PHLtoNYC]

Originally Posted by summersm343

Philadelphia region's 71% increase in VC funding easily tops all major U.S. markets during 1Q



Article behind paywall here:
https://www.bizjournals.com/philadelphia...hia-venture-capital-funding-q1-2022.html

Excellent news!

[El Duderino]

Originally Posted by kool-ski

Demolition Permit issued today for, i believe, most of the site of the atrocious auto repair shop & strip of low rise retail stores where the proposed 13-story, 181 unit planned building is supposed to rise at 48th & Spruce Streets.

DEMOLITION PERMIT:
DP-2022-000392
Type of Work: Major Demolition



https://eclipse.phila.gov/phillylmsprod/...sentation=Public&PosseObjectId=453161748

Looks like we have some renderings - who's making the thread?

https://www.ocfrealty.com/naked-philly/w...irteen-story-tower-coming-to-48th-spruce

[iheartphilly]

Originally Posted by El Duderino

Looks like we have some renderings - who's making the thread?

https://www.ocfrealty.com/naked-philly/w...irteen-story-tower-coming-to-48th-spruce

Good design and base is very handsome. Also I see a living green wall.

[cardeza]

Originally Posted by Knight Hospitaller

Another "Rendell moment?" Puh-lease. Any success cannot be attributed to the current governmental clown show.

Funny how that works- when you dont like a politician or a group of them everything bad lies at their feet but anything positive has nothing to do with them. Sounds perfectly fair and logical. In some ways those in city hall dont have as much impact as folks think on whether or not private companies invest in Philadelphia. Rendell gets tons of credit but the reality is he was mayor at the right time and he was great in terms of being a cheerleader and PR guy but didnt do a ton legislatively in his 8 years.

[summersm343]

See It Here First: Thirteen-Story Tower Coming to 48th & Spruce

Aerials of the site (highlighted in red):





Current site:





Project Renderings:

The Garden Court Community Association (GCCA) informed us that a proposal at 4726-28 Spruce St. is on tap.

So what’s in store? A 13-story apartment tower with 170 units, parking for 28 cars and 76 bikes, and almost 40K sqft of commercial space. Per a summary of this by-right project, a $1.8M payment will be made into Housing Trust Fund, which will go toward affordable housing in the neighborhood.

Read/view more here:
https://www.ocfrealty.com/naked-philly/w...irteen-story-tower-coming-to-48th-spruce

[summersm343]

With less funding, Philly’s city parks rank worse nationally

Article:
https://www.inquirer.com/news/philadelphia/philly-parks-and-rec-ranking-funding-20220507.html

[Knight Hospitaller]

Originally Posted by cardeza

Funny how that works- when you dont like a politician or a group of them everything bad lies at their feet but anything positive has nothing to do with them. Sounds perfectly fair and logical. In some ways those in city hall dont have as much impact as folks think on whether or not private companies invest in Philadelphia. Rendell gets tons of credit but the reality is he was mayor at the right time and he was great in terms of being a cheerleader and PR guy but didnt do a ton legislatively in his 8 years.

What exactly does an executive do legislatively? The Rendell administration worked very well with John Street and Council (although Street didn’t turn out to be a very good mayor). Go ahead and give me an example of the incredible competence of Jimmy.

[PHLtoNYC]

Originally Posted by summersm343

With less funding, Philly’s city parks rank worse nationally

Article:
https://www.inquirer.com/news/philadelphia/philly-parks-and-rec-ranking-funding-20220507.html

That's a shame. Parks / recreation space is one of the most important QOL components for a big city.

Does DC rank #1 because of federal funding?

And Independence National Historic Park is not included in the Parks & Rec budget, right? That is disgrace from a federal level. That area should be treated like a crown jewel, yet the government penny pinches to make the most minor repairs and upgrades.

[summersm343]

New Thread - 4726 Spruce Street
Link:
https://skyscraperpage.com/forum/showthread.php?p=9619856#post9619856

[mcgrath618]

Originally Posted by summersm343

New Thread - 4726 Spruce Street
Link:
https://skyscraperpage.com/forum/showthread.php?p=9619856#post9619856

Thanks Summers. I've been in Chicago the last few days and only just now had enough time to break out my laptop.

[summersm343]

Could Huge Lot Consolidation at 42nd & Market Mean Huge Project?

Ariel views of 4200-14 Market Street:

Shortly after we talked about 4200 Market St. last year, a quick story appeared a month later from the Philadelphia Business Journal, stating that this very property was for sale for a cool $30 million.

It appears that there hasn’t been a change of hands yet, but the parcels are (mostly) under common ownership. You’ll see below, we say “mostly” because a trio of rowhomes on the eastern side of the lot are holding out and wouldn’t be included in a future project. But as we alluded to at the top, a zoning permit was issued, consolidating approximately two-thirds of the block, for a total of 73K sqft for the parcel. This is a major step, as it now allows for the owner of this lot to build, and build fairly big. Without any bonuses or zoning refusals, you could build up to 365K sqft on this CMX-3 parcel, a major footprint for a project in this part of town. This is a pretty strong indication that the property is under agreement, or maybe that it has traded but public record hasn’t updated yet.

Read/view more here:
https://www.ocfrealty.com/naked-philly/w...idation-at-42nd-market-mean-huge-project