PHILADELPHIA | Lowrise/General Developments Thread

[josef]

I can't believe they're finally doing work on the Divine Lorraine!

[MadhattersLT]

That's Awesome!! Now someone needs to figure out what to do about that vacant highrise on broad near Germantown Ave.. The "Boner" tower

[blart]

Article on philly.com about the Gallery makeover-

http://www.philly.com/philly/busines..._new_look.html

[McBane]

Fishtown residents reject two projects: http://www.philly.com/philly/classif...re_Avenue.html

NIMBY quotes:

One resident said the project was simply an overbuild of the site.

An overbuild? Delaware Ave is a 6 lane highway not a tiny ally.

Another objected to the commercial uses.

Why? Delaware Ave is a highway BUT needs commercial activity to make it a walkable destination. Who on earth would reject a retail component and why?

“We really don’t need more people,” said a third. “Sorry, we just don’t need you.”

Really? We don't need more tax payers? I hope this person isn't also whining about tax increases and the lack of school funding. THIS is exactly why someone with an economic/finance background NEEDS to be part of the zoning process. You have to have someone to outline the economic incentive of a particular project and how the city will be negatively impacted (financially) by downsizing a project. EXAMPLE: Reducing such and such's project by 2 floors, means 6 less households, mean $$$ less taxable income, RE transfer taxes, etc.

[techchallenger]

[QUOTE=summersm343;6985741]AQ Rittenhouse - 2021 Chestnut - 12 floors
Exterior practically complete



I'm no expert, but the facade/window fitment of AQ looks incredibly cheap to me. Look at the varying gaps in the panels...

[apetrella802]

http://www.bizjournals.com/philadelp...l&t=1429118235

[1487]

Originally Posted by apetrella802

http://www.bizjournals.com/philadelp...l&t=1429118235

I was just about to post that. This is a huge lease, should really help push that vacancy rate below 10% in the near future.

[summersm343]

Originally Posted by blart

Article on philly.com about the Gallery makeover-

http://www.philly.com/philly/busines..._new_look.html

Here is an exterior photo of the Gallery



Interior



9th Street underpass



http://www.phillymag.com/property/20...d/#gallery-2-2

[summersm343]

Originally Posted by McBane

Fishtown residents reject two projects: http://www.philly.com/philly/classif...re_Avenue.html

NIMBY quotes:
An overbuild? Delaware Ave is a 6 lane highway not a tiny ally.

Why? Delaware Ave is a highway BUT needs commercial activity to make it a walkable destination. Who on earth would reject a retail component and why?

Really? We don't need more tax payers? I hope this person isn't also whining about tax increases and the lack of school funding. THIS is exactly why someone with an economic/finance background NEEDS to be part of the zoning process. You have to have someone to outline the economic incentive of a particular project and how the city will be negatively impacted (financially) by downsizing a project. EXAMPLE: Reducing such and such's project by 2 floors, means 6 less households, mean $$$ less taxable income, RE transfer taxes, etc.

There is a rendering of 1100 N. Delaware on the PlanPhilly article. This project looks good! I doubt this is dead now. The developer will probably just go to the ZBA and Planning Commission to get approval.



http://planphilly.com/articles/2015/...n-delaware-ave

[3rd&Brown]

Originally Posted by 1487

I was just about to post that. This is a huge lease, should really help push that vacancy rate below 10% in the near future.

It's time for a mid-sized spec building. 400-500K square feet.

I bet you there are a lot of large/multi-national companies with secondary offices (i.e. not the headquarters) in the area that are considering leasing in the city to accommodate the young, urban cohort among their workforce that are pawning for a chance to work in the city....if I worked for a suburban company and it announced it was opening an office in the city, it would literally make my year. Not to mention there are a growing number of very educated youngish people who actually refuse to interview with companies who are not in the city. I mean...I know it happens to me. I am constantly getting calls from recruiters. Even though I work in NYC now, when those calls come from a suburban company (anywhere, NY or Philly), I tell them thanks but no thanks. No interest.

A spec building of such sorts would fill up quickly with such tenants. One could even envision another FMC sized building...what's that, 600K SF?

As for AQ Rittenhouse...can we stop posting pictures of it? It is literally the ugliest building this city has birthed in a long long time. And that's saying a lot. Every time I see it I literally get anxiety.

[BenKatzPhillytoParis]

Originally Posted by 1487

I was just about to post that. This is a huge lease, should really help push that vacancy rate below 10% in the near future.

Ya, but does anyone know where Cozen O'Connor is moving to? They mention that they have been the lead tenant in the building and are moving imminently. Hope they're not downsizing or leaving the city.

[summersm343]

Originally Posted by BenKatzPhillytoParis

Ya, but does anyone know where Cozen O'Connor is moving to? They mention that they have been the lead tenant in the building and are moving imminently. Hope they're not downsizing or leaving the city.

They announced a few years back that they would be moving to One Liberty Place

http://www.law360.com/articles/35979...elphia-offices
http://www.bizjournals.com/philadelp....html?page=all

[thisisforreal]

Originally Posted by 3rd&Brown

As for AQ Rittenhouse...can we stop posting pictures of it? It is literally the ugliest building this city has birthed in a long long time. And that's saying a lot. Every time I see it I literally get anxiety.

I'll post pictures of it mixed amongst war torn Chechnya midrises and we'll see who can pick it out of the lineup.

[1487]

Originally Posted by 3rd&Brown

It's time for a mid-sized spec building. 400-500K square feet.

I bet you there are a lot of large/multi-national companies with secondary offices (i.e. not the headquarters) in the area that are considering leasing in the city to accommodate the young, urban cohort among their workforce that are pawning for a chance to work in the city....if I worked for a suburban company and it announced it was opening an office in the city, it would literally make my year. Not to mention there are a growing number of very educated youngish people who actually refuse to interview with companies who are not in the city. I mean...I know it happens to me. I am constantly getting calls from recruiters. Even though I work in NYC now, when those calls come from a suburban company (anywhere, NY or Philly), I tell them thanks but no thanks. No interest.

A spec building of such sorts would fill up quickly with such tenants. One could even envision another FMC sized building...what's that, 600K SF?

As for AQ Rittenhouse...can we stop posting pictures of it? It is literally the ugliest building this city has birthed in a long long time. And that's saying a lot. Every time I see it I literally get anxiety.

we are definitely getting closer to seeing a new office building go up in CC. All we need is one large tenant that wants to relocate but cant find a block large enough in existing towers. Im sure Brandywine has other leases lined up for 1900 market- I just hope they are companies that arent already downtown.

[summersm343]

Originally Posted by 1487

we are definitely getting closer to seeing a new office building go up in CC. All we need is one large tenant that wants to relocate but cant find a block large enough in existing towers. Im sure Brandywine has other leases lined up for 1900 market- I just hope they are companies that arent already downtown.

Well, technically IBX is already downtown, yes, but the lease on 1900 Market will bring in it's entire suburban workforce to Center City which will be a net positive on jobs for sure.

All we need is one firm looking for at least 250,000 sq feet and we have a new 500,000 sq foot office building plus apartments and/or hotel space on top which could easily equal 600+ feet.

[blart]

Originally Posted by summersm343

There is a rendering of 1100 N. Delaware on the PlanPhilly article.

First render I've seen of this, thanks.

Originally Posted by McBane

Fishtown residents reject two projects: http://www.philly.com/philly/classif...re_Avenue.html

Totally spaced on that meeting. Since the article stated 2/3 voted against, my presence wouldn't have mattered.

[Cro Burnham]

Originally Posted by blart

First render I've seen of this, thanks.



Totally spaced on that meeting. Since the article stated 2/3 voted against, my presence wouldn't have mattered.

The quotes from some of the opponents makes me feel kind of violent, like induces fantasies of catching a nimby and slapping them silly. Here's a prize:

“We really don’t need more people . . . Sorry, we just don’t need you.”
Read more at http://www.philly.com/philly/classif...L8OqpFm2cXg.99

[BenKatzPhillytoParis]

Originally Posted by summersm343

They announced a few years back that they would be moving to One Liberty Place

http://www.law360.com/articles/35979...elphia-offices
http://www.bizjournals.com/philadelp....html?page=all

Thanks a lot Summers. Good to know.

[mmikeyphilly]

Originally Posted by Cro Burnham

The quotes from some of the opponents makes me feel kind of violent, like induces fantasies of catching a nimby and slapping them silly. Here's a prize:

We really don’t need more people,” said a third. “Sorry, we just don’t need you.”
Read more at http://www.philly.com/philly/classif...RU4OfYfgjwT.99

Cro, I beg to differ, (sike) Ain't that something? Probably from that famous 2 block stretch of Allen Street. They are so complacent and feel their 2 block area just remain a 2 block stretch of "neighbors". I bet half of them don't even speak to each other.

[Jawnadelphia]

http://www.bizjournals.com/philadelp...-building.html


"Independence Blue Cross will lease a significant portion of 1900 Market St. in Center City to consolidate offices it has in the suburbs..." (The Stock Exchange building)

Ugh... you guys way beat me to this story (sorry for re-post!).