PHILADELPHIA | Lowrise/General Developments Thread - Page 210

AbortedWalrus · #**4181** Posted **Oct 13, 2015, 5:35 PM**

Quote:

Originally Posted by Knight Hospitaller

Good point (and really an elaboration of mine). It raises the issue of whether PHA should be a developer and landlord at all. To effect what you suggest, it seems that some sort of housing voucher & PHA as placement agency combo would do a better job of ensuring homes for the poor and reducing concentration of poverty.

I think they should be rehabbing existing housing stock they already own that isn't used and then giving it to low income people or selling it at market rate if the area isn't sufficiently mixed income. I think turning people into home owners that have a real asset would probably be better for them, because it gives stability and lets them accrue value on it. Once they clear out the inventory of existing structures, which can probably be rehabbed for a fraction of the cost of new construction, then they can start building new stuff.

iheartphilly · #**4182** Posted **Oct 13, 2015, 5:42 PM**

Quote:

Originally Posted by AbortedWalrus

I think they should be rehabbing existing housing stock they already own that isn't used and then giving it to low income people or selling it at market rate if the area isn't sufficiently mixed income. I think turning people into home owners that have a real asset would probably be better for them, because it gives stability and lets them accrue value on it. Once they clear out the inventory of existing structures, which can probably be rehabbed for a fraction of the cost of new construction, then they can start building new stuff.

What's the breakdown on cost for rehabbing to bring everything up to code. For example, removal of knob and tube wiring, old cast iron plumbing, any structural issue, remediation of lead paint and asbestos, etc. Any guess whether these costs would equal or exceed new construction.

AbortedWalrus · #**4183** Posted **Oct 14, 2015, 4:46 AM**

Quote:

Originally Posted by iheartphilly

What's the breakdown on cost for rehabbing to bring everything up to code. For example, removal of knob and tube wiring, old cast iron plumbing, any structural issue, remediation of lead paint and asbestos, etc. Any guess whether these costs would equal or exceed new construction.

I don't know the rehab costs exactly, but I do know the new construction costs are around $130/sqft. That's not including demolition costs. A 1500 sqft unit would cost them $200k to build, not including demo (no clue what this would cost? $10k?). I can't see the full rehab costing more than $50-70k in my past experience helping my dad flip homes.

tsarstruck · #**4184** Posted **Oct 14, 2015, 1:49 PM**

Quote:

Originally Posted by AbortedWalrus

I don't know the rehab costs exactly, but I do know the new construction costs are around $130/sqft. That's not including demolition costs. A 1500 sqft unit would cost them $200k to build, not including demo (no clue what this would cost? $10k?). I can't see the full rehab costing more than $50-70k in my past experience helping my dad flip homes.

That sounds about right. Regardless, unless the Feds revise funding rules, no matter how sensible rehabbing is, it isn't going to happen.

loverboie · #**4185** Posted **Oct 14, 2015, 8:30 PM**

For anyone who is interested in seeing what the American Bible Society Headquarter looks like...

Relocated from NYC to 401 Market St. in Philadelphia...

http://www.bizjournals.com/philadelp...ssive-new.html

summersm343 · #**4186** Posted **Oct 15, 2015, 1:41 AM**

1924 Arch - 1900 Arch expansion - completed

summersm343 · #**4187** Posted **Oct 15, 2015, 1:49 AM**

Schuylkill River Trail extension

brenster · #**4188** Posted **Oct 15, 2015, 2:00 AM**

The dalian facade was going up when I drove by Sunday.

summersm343 · #**4189** Posted **Oct 15, 2015, 2:00 AM**

Penn New College House at Hill Square - 7 floors

The Study Hotel at University City - 10 floors

Study Hotel right - College House at Hill Square left

summersm343 · #**4190** Posted **Oct 15, 2015, 3:06 AM**

Dalian on the Park - 10 floors

Arch+Eng · #**4191** Posted **Oct 15, 2015, 2:35 PM**

I don't think I will every use Metal paneling for any building that I develop in the future.

1487 · #**4192** Posted **Oct 15, 2015, 3:10 PM**

Wow, Dalian is coming along. Haven't seen it up close in weeks.

loverboie · #**4193** Posted **Oct 15, 2015, 3:19 PM**

Interesting read for the day....

Lehigh Valley studying viability of restarting rail service to Philadelphia area
Read more at http://www.philly.com/philly/busines...g2Ssv8d1O4b.99

1487 · #**4194** Posted **Oct 15, 2015, 6:21 PM**

Does 1900 arch have a tenant on ground floor yet?

summersm343 · #**4195** Posted **Oct 15, 2015, 7:28 PM**

Quote:

Originally Posted by 1487

Does 1900 arch have a tenant on ground floor yet?

Apparently yes for most of the remaining retail space.

Jawnadelphia · #**4196** Posted **Oct 15, 2015, 8:22 PM**

Bart's house continues:

[IMG]

Untitled

Cro Burnham · #**4197** Posted **Oct 15, 2015, 8:35 PM**

Anybody have a chance to stop by Pearly Properties addition to the Waverly Court building that's happening near 13th & Pine? Great density infill and overbuild. It must be up a few floors by now.

http://www.ocfrealty.com/sites/www.o...0Rendering.jpg

Arch+Eng · #**4198** Posted **Oct 16, 2015, 12:28 PM**

Quote:

Originally Posted by TallCoolOne

Bart's house continues:

[IMG]

Untitled

Seems like this is taking a really long time, I want to see this rise up. I love the housing stock we have in this city.

I really wonder what our city will look like in 50 years with the juxtaposition of all of these new contemporary row homes next to each other. There will be a lot more originality on each block, which I think will be very interesting. I also love when great old structures are restored too.

thisisforreal · #**4199** Posted **Oct 16, 2015, 12:40 PM**

Demolition at 4042 Chestnut is progressing nicely.

FourS · #**4200** Posted **Oct 16, 2015, 1:05 PM**

I noticed the demo on the 4000 block of Chestnut. Anyone know what's going to replace the building they're tearing down?