PHILADELPHIA | Lowrise/General Developments Thread II

[jaysb]

Originally Posted by Skintreesnail

Is reading international technically a railroad though? They advertise as a entertainment and real estate company. Also the land is not even viable as a railroad anymore.

Anyone have any idea whether the schulkill river trail extension to grays ferry crescent is ahead of schedule? Seems like the boardwalk is pretty much done and the cables just need to be installed on the support pillars. Would be great if that opened sooner than expected since the bridge to Bartram's is also supposed to be installed soon.

I'm willing to bet a fair sum of money that however they've evolved, they've done so in a way that keeps the generous protections afforded to rail companies dating back to the 1800s.

[New2Fishtown]

Paul Levy is still focused on it. Now that he's no longer CEO at CCD, he's got a board role and is working with CCD's Foundation (the CCDF, so many acronyms) on moving the project forward. This is why the info about Phase II lives on CCD's website: https://centercityphila.org/foundati...l-park-phase-2

He's as savvy and competent and connected as anyone in Philadelphia, so if there's a shot of getting Reading to listen to reason (or to come up with a viable way to buy them out of the land), I'm confident he'll get there eventually.

Originally Posted by BroadandMarket

I would hope that the Rail Park releasing phase 2 renderings means that Paul Levy was able to help with gaining control of that portion? I don't see the point in them releasing this without any ownership of the land. Sadly the handsome former reading building at 9th and Spring Garden was not saved before Reading demolished it.

I also want to join in that the cut should not be a fucking park. Obviously it should be a bus line, light rail or heavy rail. Mcgrath made an interesting point about using Broad Ridge Spur to connect to it. I thought the new police headquarters filled the tunnel between 15th and Broad? I recall it being a recycled glass fill but I can't remember where I saw that?

https://www.inquirer.com/real-estate...-20230815.html

[ScreamShatter]

Originally Posted by Redddog

You better hope the Chinatown Association doesn't hear about this. Can you imagine the amount of gentrification this would usher in. They better put an end to this at all costs if they want to continue exist.

I'm putting together a new group... Chinatown Residents Against the Park (CRAP). Stand by for meeting details....

Lolol

[ScreamShatter]

Originally Posted by mcgrath618

You can't emminent domain a railroad, which I am sure is Reading Co's legal defense here. It's a shame, because I'd much rather this portion of the park be done than the Callowhill Cut (which has immense potential for transit).

Why can’t they eminent domain? It’s not a functioning line anymore. I feel like there’s got to be a loophole. Or the city could start fining them for not upkeeping the infrastructure/code violations/etc until they decide to sell. Idk. Just a suggestion to get creative.

[SEFTA]

Originally Posted by bdurk

Funny you mention the Callowhill Cut and the opportunity that lies there because I think about that every day when I walk home from work. It would be perfect for a light rail. I'm not sure if it could get under Broad St but if it could it could even be a great opportunity for a new subway line or something. I'd love to see a map of the space that isn't used because I know it goes under like 21st or 22nd but have no clue where it goes from there.

It would be a great shame not to exploit the cut AND the Pennsylvania Avenue tunnel.

[mcgrath618]

A Modest Proposal
I put forward this proposal for the 2026 celebration: rebuild the giant illuminated Liberty Bell that was constructed at Broad and Oregon in 1926 for the ill-fated fair:



This is not a joke. I think this is rad as hell.

[Londonee]

Originally Posted by Skintreesnail

Is reading international technically a railroad though? They advertise as a entertainment and real estate company. Also the land is not even viable as a railroad anymore.

Anyone have any idea whether the schulkill river trail extension to grays ferry crescent is ahead of schedule? Seems like the boardwalk is pretty much done and the cables just need to be installed on the support pillars. Would be great if that opened sooner than expected since the bridge to Bartram's is also supposed to be installed soon.

Yeah I’d think a Philly judge would find their claims that this is a “railroad” to be pretty phony at best, and borderline fraudulent at worst. These things are a rotting, hulking disaster in the middle of the 3rd densest city in the country. The fact that this is not a bigger deal to more people is a bummer.

FWIW, I’m pretty sure Paul Levy’s retirement project is bull-dogging this initiative so I wouldn’t be surprised if we see results sooner than later.

[Busy Bee]

Originally Posted by mcgrath618

This is not a joke. I think this is rad as hell.

I'd have to agree.

[PHL10]

Originally Posted by mcgrath618

This is not a joke. I think this is rad as hell.

I don’t hate it actually. I do think it’s unfortunate that we don’t put up some type of large scale permanent memorial. Something that people will see 100 years from now and ask – “oh, what is that?” “That’s the Semiquincentennial memorial that they built in 2026.”

[jaysb]

Originally Posted by Londonee

Yeah I’d think a Philly judge would find their claims that this is a “railroad” to be pretty phony at best, and borderline fraudulent at worst. These things are a rotting, hulking disaster in the middle of the 3rd densest city in the country. The fact that this is not a bigger deal to more people is a bummer.

FWIW, I’m pretty sure Paul Levy’s retirement project is bull-dogging this initiative so I wouldn’t be surprised if we see results sooner than later.

I'm fairly sure it wouldn't be a Philly judge ruling on this. Railroads are federal.

[Gatorade_Jim]

Originally Posted by jaysb

I'm fairly sure it wouldn't be a Philly judge ruling on this. Railroads are federal.

I haven’t really been following this thread but I’ve done some rails to trails work and took a class on it in law school. It’s a complicated process and my guess is that Reading hasn’t played ball with formally abandoning the rail line to start the railbanking process. Either way the Philly CCP wouldn’t have jurisdiction. You’d be in federal court if someone sought judicial intervention.

[PHLtoNYC]

Interesting article...

FS Investments CEO Michael Forman pondering firm's future in Philadelphia
https://www.bizjournals.com/philadel...ms-future.html

With the lease on its 80,000-square-foot Navy Yard headquarters set to expire next year, CEO Michael Forman said FS will have an important decision to make by the end of this summer about whether to stay put, move somewhere else in the city or look at the suburbs.

The last option is not preferable for Forman, who lives in the city and is involved in a wide range of local business, philanthropic, civic and political activities.

Philadelphia’s onerous business tax structure could be an impediment to keeping the firm's roughly 300 local workers inside the city limits.

Forman said he's told Mayor Cherelle Parker and City Council President Kenyatta Johnson that it costs FS more to operate in Philadelphia than it does in New York or Connecticut, where it also has sizable offices.

“I'm not talking about [low-tax states] Texas and Florida. I'm talking about New York City and Connecticut,” he said. “So I'm hopeful that the new tax commission will figure out how to make Philadelphia a more welcoming city for businesses. I think that's the way we grow jobs and equitable jobs.”

[Redddog]

Originally Posted by PHLtoNYC

Interesting article...

FS Investments CEO Michael Forman pondering firm's future in Philadelphia
https://www.bizjournals.com/philadel...ms-future.html

With the lease on its 80,000-square-foot Navy Yard headquarters set to expire next year, CEO Michael Forman said FS will have an important decision to make by the end of this summer about whether to stay put, move somewhere else in the city or look at the suburbs.

The last option is not preferable for Forman, who lives in the city and is involved in a wide range of local business, philanthropic, civic and political activities.

Philadelphia’s onerous business tax structure could be an impediment to keeping the firm's roughly 300 local workers inside the city limits.

Forman said he's told Mayor Cherelle Parker and City Council President Kenyatta Johnson that it costs FS more to operate in Philadelphia than it does in New York or Connecticut, where it also has sizable offices.

“I'm not talking about [low-tax states] Texas and Florida. I'm talking about New York City and Connecticut,” he said. “So I'm hopeful that the new tax commission will figure out how to make Philadelphia a more welcoming city for businesses. I think that's the way we grow jobs and equitable jobs.”

That's nuts. C'mon Philly. Get your head outta ya a$$.

My daughter works in the TV business. She says that same thing. She did an Apple TV show here 2 summers ago and said the production costed more than 3 times the cost here vs NYC.

That's just ridiculous.

[PHLtoNYC]

Originally Posted by Redddog

That's nuts. C'mon Philly. Get your head outta ya a$$.

My daughter works in the TV business. She says that same thing. She did an Apple TV show here 2 summers ago and said the production costed more than 3 times the cost here vs NYC.

That's just ridiculous.

Why is that? Higher taxes, more red tape?

[reparcsyks]

States like GA and NM have attractive tax credits for film productions. We used to compete, but our idiotic state government killed the tax credits for film/tv production, so productions went to wear their dollars are stronger, namely: GA, NM, and OK. NJ is killing us as well, landing the new Netflix studio.

[Mr Saturn64]

Turkish Airlines Wants to Add Philadelphia to its List of Destinations

https://www.bizjournals.com/philadel...stination.html

[jaysb]

Originally Posted by Mr Saturn64

Turkish Airlines Wants to Add Philadelphia to its List of Destinations

https://www.bizjournals.com/philadel...stination.html

That would be amazing. Istanbul is an incredible city and that airport is amazing.

[Jayfar]

Originally Posted by reparcsyks

States like GA and NM have attractive tax credits for film productions. We used to compete, but our idiotic state government killed the tax credits for film/tv production, so productions went to wear their dollars are stronger, namely: GA, NM, and OK. NJ is killing us as well, landing the new Netflix studio.

If I recall correctly, PA has tax credits but the TOTAL tax credits for all productions combined each year is capped at a set amount.

[jaysb]

Originally Posted by Jayfar

If I recall correctly, PA has tax credits but the TOTAL tax credits for all productions combined each year is capped at a set amount.

I read an article a while ago that film production isn’t really a great use to tax dollars. It’s typically a race to the bottom from a tax credit perspective and the upside is basically a bunch of temp jobs. It may be good for a commercial/marketing perspective for the city but there isn’t much benefit from an economic perspective.

[PhilliesPhan]

Originally Posted by Mr Saturn64

Turkish Airlines Wants to Add Philadelphia to its List of Destinations

https://www.bizjournals.com/philadel...stination.html

Finally! This is an airline I've wanted to see come to PHL. If you think about it, Turkish Airlines is a perfect replacement for the departure of Qatar Airways in terms of hub-and-spoke connectivity. Until we get a direct flight to Asia, Turkish Airlines should make traveling to Asian countries from PHL a lot easier.