PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread - Page 252

TonyTone · #**5021** Posted **Jun 29, 2022, 5:06 AM**

Quote:

Originally Posted by SouthCentralPA

^^ Loving all these aerial photos Tony! Hope to see you posting more of them in all of the threads.

Which specific threads should I post in. I went & looked & saw 1 million different ones lol.

Raja · #**5022** Posted **Jun 29, 2022, 4:06 PM**

Quote:

Originally Posted by Urbanthusiat

Did a little number crunching of BLS data to see how Philly's post-covid recovery compares to other cities in the Northeast. Turns out, the number's actually look pretty solid for Philly (and eastern PA as a whole). ...

This is great!!

TempleGuy1000 · #**5023** Posted **Jun 29, 2022, 5:09 PM**

Quote:

Originally Posted by Urbanthusiat

Did a little number crunching of BLS data to see how Philly's post-covid recovery compares to other cities in the Northeast. Turns out, the number's actually look pretty solid for Philly (and eastern PA as a whole). Below is a list of MSA's sorted by nonfarm employment in May '22 over the MSA's peak nonfarm employment since January 2012 for MSA's with employment > 100k. Four Pennsylvania MSA's crack the top 10 with Harrisburg being the only MSA in the northeast that's actually currently at peak employment, with Allentown coming in at #2, York #5, and Philly at #7. I also looked at the longer term trend and compared today to January 2012. Believe it or not, in the last 10 years, Philly MSA has actually (barely) added more total jobs than the DC MSA (298,700 vs 298,400), but that's not the common narrative. As a percentage Philly does even better than DC. I also looked at job growth relative to the entire set and looked at the "% Chg Wgt" which is the relative change in weight each MSA has compared to the set over the last 10 years (e.g. 0% = growth proportional to the set). Philly had a rate of 0.8% which means it grew slightly faster than the set as a whole.

MSA | % of Peak | January 2012 Total | May 2022 Total |10-yr Total Chg | % Chg Wgt

Harrisburg-Carlisle, PA | 100.0% | 315 | 357.1 | 42.1 | 2.8%
Allentown-Bethlehem-Easton, PA-NJ | 99.4% | 336.8 | 385.6 | 48.8 | 3.8%
Providence-Warwick, RI-MA NECTA | 98.3% | 536.8 | 598.6 | 61.8 | 1.1%
Trenton, NJ | 97.9% | 238.8 | 281.6 | 42.8 | 6.9%
York-Hanover, PA | 97.8% | 175 | 187.4 | 12.4 | -2.9%
Baltimore-Columbia-Towson, MD 97.7% | 1284.7 | 1415.8 | 131.1 | -0.1%

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 97.6% | 2667.5 | 2966.2 | 298.7 | 0.8%
Worcester, MA-CT NECTA | 97.6% | 261.7 | 286.9 | 25.2 | -0.6%
Springfield, MA-CT NECTA | 97.6% | 304.9 | 337.1 | 32.2 | 0.3%
Boston-Cambridge-Nashua, MA-NH NECTA | 97.4% | 2443.5 | 2784.5 | 341 | 3.3%
Washington-Arlington-Alexandria, DC-VA-MD-WV | 97.1% | 2994.9 | 3293.3 | 298.4 | -0.3%
Portland-South Portland, ME NECTA | 97.1% | 185.2 | 212.8 | 27.6 | 4.2%
New Haven, CT NECTA | 96.9% | 267.6 | 293 | 25.4 | -0.7%
Atlantic City-Hammonton, NJ | 96.5% | 130.5 | 136.6 | 6.1 | -5.1%
Lancaster, PA | 96.3% | 222.7 | 253.4 | 30.7 | 3.2%
New York-Newark-Jersey City, NY-NJ-PA | 95.9% | 8636.7 | 9734.9 | 1098.2 | 2.2%
Scranton--Wilkes-Barre--Hazleton, PA 95.8% | 249.4 | 257.9 | 8.5 | -6.2%
Albany-Schenectady-Troy, NY | 95.7% | 428 | 459.2 | 31.2 | -2.7%
Hartford-West Hartford-East Hartford, CT NECTA | 95.5% | 547.4 | 570.8 | 23.4 | -5.4%
Pittsburgh, PA | 95.4% | 1130.5 | 1150.7 | 20.2 | -7.7%
Manchester, NH NECTA | 95.3% | 101 | 113.2 | 12.2 | 1.6%
Buffalo-Cheektowaga-Niagara Falls, NY | 95.0% | 530.7 | 545.4 | 14.7 | -6.8%
Syracuse, NY | 94.9% | 303.6 | 308.1 | 4.5 | -8.0%
Rochester, NY | 94.5% | 505.9 | 519.1 | 13.2 | -6.9%
Bridgeport-Stamford-Norwalk, CT NECTA | 94.3% | 391.1 | 395.3 | 4.2 | -8.3%
Hagerstown-Martinsburg, MD-WV | 94.3% | 98.5 | 103.3 | 4.8 | -4.9%
Reading, PA | 93.6% | 165.5 | 172.5 | 7 | -5.5%
Utica-Rome, NY | 93.4% | 124.9 | 121.5 | -3.4 | -11.8%
Erie, PA | 93.1% | 127.8 | 123.1 | -4.7 | -12.6%
Burlington-South Burlington, VT NECTA | 93.0% | 116.1 | 119.7 | 3.6 | -6.5%
Salisbury, MD-DE | 93.0% | 132.6 | 164.7 | 32.1 | 12.6%
Norwich-New London-Westerly, CT-RI NECTA | 90.4% | 126.4 | 121.5 | -4.9 | -12.8%
Binghamton, NY | 89.8% | 104.6 | 97.8 | -6.8 | -15.2%
Barnstable Town, MA NECTA | 82.4% | 87.9 | 101.9 | 14 | 5.1%

Fortunately, BLS breaks out Philly into multiple different parts better than most MSAs, so I was able to look do the same analysis on the region. South Jersey is the only part of the MSA that's at peak employment right now.

Philly MSA Component | % of Peak | January 2012 Total | May 2022 Total |10-yr Total Chg | % Chg Wgt

Camden, NJ Metropolitan Division | 100.0% | 493.7 | 564.6 | 70.9 | 2.8%
Montgomery County-Bucks County-Chester County, PA Metropolitan Division | 98.3% | 979.2 | 1086.1 | 106.9 | -0.3%
Wilmington, DE-MD-NJ Metropolitan Division | 96.5% | 326.6 | 359.2 | 32.6 | -1.1%
Philadelphia County, PA | 95.4% | 650.5 | 723.9 | 73.4 | 0.1%
Delaware County, PA | 94.0% | 217.5 | 232.4 | 14.9 | -3.9%

Very interesting, thanks for sharing.

SouthCentralPA · #**5024** Posted **Jun 30, 2022, 12:34 AM**

Quote:

Originally Posted by TonyTone

Which specific threads should I post in. I went & looked & saw 1 million different ones lol.

I just meant this one, the Philly Lowrise, Philly Highrise, etc. I know you've been posting in all of them, I was just encouraging you to keep posting because the photos are great!

TonyTone · #**5025** Posted **Jun 30, 2022, 5:37 AM**

Quote:

Originally Posted by SouthCentralPA

I just meant this one, the Philly Lowrise, Philly Highrise, etc. I know you've been posting in all of them, I was just encouraging you to keep posting because the photos are great!

Thank you, plenty of more content coming I may mess around and apply at Philly yimby soon

summersm343 · #**5026** Posted **Jun 30, 2022, 4:19 PM**

summersm343 · #**5027** Posted **Jun 30, 2022, 4:31 PM**

Wilmington is looking great!

summersm343 · #**5028** Posted **Jun 30, 2022, 4:32 PM**

BET Investments pays $30M for Prudential Insurance Co. property in Upper Dublin

Quote:

BET Investments Inc. has closed on the purchase of Prudential Insurance Co.’s 90-acre campus, paying $30.25 million for the property that is visible from the Pennsylvania Turnpike.

The property at 2101 Welsh Road in Upper Dublin has three interconnected office buildings that total 861,000 square feet and surface parking lots that have 2,175 spaces. Prudential was the seller.

In the meantime, BET Investments will be coming up with a plan for the property, said Michael Markman, president of the real estate company. The land sits adjacent to other properties BET owns including a 225,000-square-foot office building at 200 Dryden Road and the Promenade at Upper Dublin.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...ments-closes-on-prudential-property.html

summersm343 · #**5029** Posted **Jun 30, 2022, 4:33 PM**

Two new projects rise on former St. Mary's Villa site in Ambler

Quote:

A $62 million, 460,000-square-foot senior living community and a separate for-sale housing development have recast a property in Ambler that for decades served as St. Mary’s Villa for Children and Families.

A partnership between the Goldenberg Group of Blue Bell and Guidi Construction and Management bought nearly 50 acres and developed Mattison Estate, a community of new carriage homes and villas, which start at $700,000. South Bay Partners Inc. of Dallas bought eight acres and partnered with SageLife of Springfield, Delaware County, on the senior-living project called the 501 at Mattison Estate.

By combining the new carriage homes with the senior living facility, the property has turned into a multi-generational residential community. It provides a place for aging parents to conveniently live near their children and grandchildren and in an environment where they can also receive care.

The 501 at Mattison Estate is at the center of the community. The facility has 250 apartments of which 156 are independent living, 62 are assisted living and 32 are memory care. An independent living studio runs $3,995 a month and includes two meals, parking, utilities, and participation in any programming, among other services.

“We got out in front of this before Covid,” said Parrish Phillips, general manager. The first residents have just started to move in.

The building was designed to preserve the “castle,” which serves as a reminder of the property’s past. The former mansion looks as if it is part of the senior living community.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...-new-housing-rise-on-former-st-mary.html

summersm343 · #**5030** Posted **Jun 30, 2022, 4:35 PM**

NFI Industries to occupy new 264,600-square-foot industrial building in Quakertown

Quote:

NFI Industries Inc. will occupy the Quakertown Logistics Center, a newly constructed 264,600-square-foot building just off the Quakertown Interchange of I-476.

“Quakertown has become a valued location as a distribution point to service the Lehigh Valley and Philadelphia and New Jersey,” Adams said. “It’s a premier location.”

Other companies that occupy warehouse space in the general area include Amazon, XPO Logistics, Raymour & Flanigan and United States Cold Storage.

Just last week, NFI decided it would take the space. The company will occupy the building in its entirety this November and use the space for one of its logistics customers, Adams said.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...-takes-264-600-square-foot-building.html

3rd&Brown · #**5031** Posted **Jul 1, 2022, 9:44 AM**

Quote:

Originally Posted by TempleGuy1000

Very interesting, thanks for sharing.

Upstate NY really taking it on the chin.

NY State really should figure out how to have a two tiered corporate tax system. 1 set of rates for the NY Metro and a completely different set of rates for everywhere else.

PA could probably do something similar with minimum wage. Have Tier 1, 2, and 3 counties and essentially Philadelphia and it's 4 collar counties have 1 minimum wage (say, $15) and Allegheny and the next ring of counties out from Philadelphia (Northampton, Lehigh, Berks, Lancaster, York, Cumberland, Dauphin) have a minimum wage that's a rung lower, say $13. And everywhere else can peg minimum wage to $10.

That could appease conservatives and liberals alike.

TonyTone · #**5032** Posted **Jul 4, 2022, 1:34 AM**

Construction at the Riverhouse Apartments in South Wilmington Continues

https://www.valueztv.com/post/constructi...apartments-in-south-wilmington-continues

Quote:

"Construction on the RiverHouse Apartments at 401 A St in South Wilmington continues on this week adding on to the list of projects that are planned or currently under construction in the Riverfront East area where a 100+ Million overhaul of the area is currently taking place.

The RiverHouse Apartments are slated to be completed in 2023, and according to their website below"

Quote:

The Owners of this particular project is "Washington Place Equities" located in Baltimore, MD. The design firm of this project is the "Alexander Design Group", and the Developers of this project are "Bancroft Construction"

The project boasts 139,340 square feet, and will include a two-phase development comprised of 300 market-rate apartment units along the Christina River in Wilmington, DE. Phase 1 will include the construction of a 5-story building (five stories of wood framing with a partial steel and concrete podium) that will house 150 units, as well as the construction of 77 surface parking spots. Amenity space will include a fitness room, lounge area, pool changing room, and a rooftop lounge and bar area.

TonyTone · #**5033** Posted **Jul 4, 2022, 1:36 AM**

Former Celebrations location to become Luxury Apartments

https://www.valueztv.com/post/former-celebrations-location-to-become-luxury-apartments

Quote:

The Former Celebrations location has recently been leveled & prepped for construction. The Development company on the job "Westrum Development Company" of Fort Washington, PA will be conducting the construction on this project, the seller who perviously owned the plot of land at 340 S Market St was E-Tegos, LLC. of Newark.

The Buyer who is also affiliated with the developer of this project is CSW Luxor VI Wilmington LP.

Quote:

"Westrum will redevelop an existing 3.49-acre site and build 193 upscale apartment units with on-site parking. The Market Street location will provide residents access to Amtrak and SEPTA rail lines, Riverfront and downtown Wilmington restaurants, theaters, entertainment venues, nearby grocery shopping, proximity to I-95 and I-495, Riverwalk, Jack A. Markell Bike Trail, and other areas."

TonyTone · #**5034** Posted **Jul 4, 2022, 1:45 AM**

THE QUOIN BRINGS BOUTIQUE TO THE CITY OF WILMINGTON

https://www.valueztv.com/post/the-quoin-brings-boutique-to-the-city-of-wilmington

Quote:

519 Market St was originally the home to the "Security Trust & Safe Deposit Company Building".

It was built in 1885 by Frank Furness along with the Central Bank System, the facade of the building was derived from the Penn National bank which was later demolished in 1974.

Now in 2022 the historic building has a new role; The Quoin a boutique hotel with character specialized for visitors who want more of an experience when residing temporarily in an area not their own.

Quote:

Method Co., a hospitality company from Philadelphia will be the developer of this project along with renowned Wilmington Based developer Buccini/Pollin Group.

The Hotel will offer 24 luxury hotel rooms, a lobby fireplace cafe and bar, a 155-seat first floor restaurant with courtyard dining, a lower-level cocktail lounge, and Wilmington's first rooftop bar and event space.

Quote:

Method Co. Also takes pride in giving a unique experience to their guests, and resturant-goers According to CulinaryAgents.com "The restaurant design have been melded with features and fixtures from local makers that reflect the building's original era, features a dining room adorned with warm wood accents, plush upholstered banquets, an illuminating ceiling design, and features an open kitchen showcasing a wood-fired oven & grill focusing on Italian-influenced, wood-fired cuisine that emphasizes the smokiness and char of the wood burning oven & grill. Serving a casual, yet sophisticated & seasonally driven menu, The Quoin is helmed by esteemed chef Jim Burke.

Quote:

This will also be the first Boutique hotel under Wilmington's belt of growing hotels in the city, confirming the years of revitalization in the city are paying off.

Quote:

The Quoin is slated to open later this summer.

SouthCentralPA · #**5035** Posted **Jul 5, 2022, 1:45 AM**

Quote:

Originally Posted by TonyTone

Thank you, plenty of more content coming I may mess around and apply at Philly yimby soon

Haha I check that site daily, would be great seeing more photos there too!

PHLtoNYC · #**5036** Posted **Jul 5, 2022, 11:44 PM**

$100M redevelopment, expansion of Drexeline Shopping Center gets underway

https://www.bizjournals.com/philadelphia...opment-of-drexeline-shopping-center.html

Once the site work is completed, construction will begin on a 72,000-square-foot structure to relocate the ShopRite, a 5,500-square-foot building for a Wawa and another 14,000-square-foot building for additional retail. The ShopRite is expected to open at its new location in the fall of 2023. The PNC will remain where it is.

After the the grocery store is open, MCB will then move ahead with the second phase. That entails constructing a 120,000-square-foot self-storage facility and a new five-story apartment complex with 173 units will be built on the former ShopRite location. Construction of that phase is expected to be completed at the end of 2024.

Federal Realty Trust makes inroads on redevelopment of 3 suburban Philadelphia shopping centers
https://www.bizjournals.com/philadelphia...cx_testVariant=cx_8&cx_artPos=0#cxrecs_s

SouthCentralPA · #**5037** Posted **Jul 6, 2022, 3:10 AM**

Building (assuming apartments but not sure) going up in Berwyn. Taken by me on 06/25/2022.

El Duderino · #**5038** Posted **Jul 6, 2022, 2:43 PM**

Quote:

Originally Posted by SouthCentralPA

Building (assuming apartments but not sure) going up in Berwyn. Taken by me on 06/25/2022.

Wow, it's awesome to see Route 30 get denser and it's really weird seeing something of that scale next to the Berwyn Tavern.

PHLtoNYC · #**5039** Posted **Jul 6, 2022, 7:30 PM**

King of Prussia Town Center adds new tenants, closes in on 100% occupancy

https://www.bizjournals.com/philadelphia/news/2022/07/05/kop-town-center-adds-new-tenants.html

Spread Bagelry, Shade Store and Buff City Soap are among several retailers that have signed new leases at the King of Prussia Town Center, pushing the 263,423-square-foot center up to 98.7% occupancy.

The center also saw two recent openings: Cork & Candles, where you can drink wine while making a custom, scented candle, leased 2,505 square feet; and Pizzeria Vetri, which had been at the King of Prussia Mall, leased 2,000 square feet.

REI, Wegmans, Ulta, and Williams Sonoma are among the center’s retail anchors while Davio’s, City Works, Founding Farmers and Paladar are among its leading restaurants.

summersm343 · #**5040** Posted **Jul 6, 2022, 9:45 PM**

Federal Realty Trust makes inroads on redevelopment of 3 suburban Philadelphia shopping centers

Quote:

Federal Realty Investment Trust continues to work on securing approvals for its plans to redevelop Bala Cynwyd Shopping Center into a more walkable, mixed-use community and is making progress to undertake a similar strategy at Willow Grove Shopping Center and Lawrence Park Shopping Center.

Plans for adding residential components and more dining that expands outdoor seating, enhancing the pedestrian experience with areas to gather, and incorporating other placemaking devices were set in motion at Federal's three Philadelphia-area shopping centers before the Covid-19 pandemic. The effort, which aims to create more of a community rather than just a shopping destination, has successfully been rolled out at some of its other centers.

Bala Cynwyd will undergo what Glinski described as a “very comprehensive, thoughtful investment.” The Bala Cynwyd center was built in 1957 and totals 294,000 square feet on 24 acres. Federal bought it in 1998.

Federal’s plans, which it began to pursue last year, continue to involve developing 200 additional apartment units along with 15,000 to 20,000 square feet of retail space in place of a shuttered 120,000-square-foot Lord & Taylor.

The center is in a dense, high traffic environment off City Avenue. While the center sits in Lower Merion, it's across the road from Philadelphia and just off the Schuylkill Expressway. As a result, plans also include improving the pedestrian experience and enhancing placemaking. Federal could begin work at the Bala center beginning in the summer of 2023.
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At Lawrence Park, a 374,000-square-foot center on 29 acres off Sproul Road in Broomall, Federal is spending $8 million on the addition of a pergola to expand an outdoor dining area to three seasons as well as designing a park-like environment that will include a garden stroll and fireplace that encourages people to gather.

Federal also completed the renovation of 95,000 square feet occupied by Main Line Health that included façade and other improvements. Earlier estimates made by Federal had the total new investment at Lawrence Park at around $24 million, which includes upgrades to the center and Main Line Health space. Work on Lawrence Park is expected to be completed by the end of this year.
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Federal is going through the approval process in Upper Moreland for its Willow Grove center, where it wants to develop about 200 new apartment units accompanied by ground floor retail. The 211,000-square-foot center sits on 13 acres at 112 Park Ave. just off of Route 611 and not far from the Pennsylvania Turnpike.

Article behind paywall here:
https://www.bizjournals.com/philadelphia...trust-makes-inroads-on-redevelopmen.html