PHILADELPHIA | Lowrise/General Developments Thread

[SJBadger]

Thanks for all the updates Summersm. Nice job!!!!

[kingtut]

Originally Posted by SJBadger

Thanks for all the updates Summersm. Nice job!!!!

I think he was on steroids today .

[Arch+Eng]

They really did a great job with that 1100 Chestnut project. Also, great job Larry.

[1487]

Good to see concrete columns already rising at Broad and Callowhill. Those projects are moving quickly. Getting some sort of retail or eateries in that area is going to be huge. It's a dead zone between Arch street and Mt. Verson on Broad.

[jsbrook]

1528 Chestnut Street. I mentioned this the other week but just stumbled across this old article:

http://www.bizjournals.com/philadelp...-for-sale.html

With Modell's moving this spring and CMX-5 zoning, I'm hopeful for a REAL redevelopment of this property.

[McBane]

Originally Posted by jsbrook

1528 Chestnut Street. I mentioned this the other week but just stumbled across this old article:

http://www.bizjournals.com/philadelp...-for-sale.html

With Modell's moving this spring and CMX-5 zoning, I'm hopeful for a REAL redevelopment of this property.

Good stuff. The corner building is a nice historic midrise that I wouldn't want to lose. However, I'd love to see a high rise that replaces 1528 along with 1524 (Liberty Travel) and 1520 (Dollar Tree and Eternity Fashion) - all three buildings go back to Sansom Street but do nothing for it. Even better would be an L-shaped footprint that also encompasses the parking garage at 15th and Sansom, which has one meager retail space on 15th but otherwise does nothing for the street.

The article has a nice aerial image showing 1520-8 plus the parking garage. That would be incredible.

[1487]

They just put a lot of money into the building where Liberty travel is located and the old Cricket location is currently being fitted out for new tenant. It would seem like tearing down those buildings with brand new tenants and leases isn't likely.

[allovertown]

Originally Posted by 1487

They just put a lot of money into the building where Liberty travel is located and the old Cricket location is currently being fitted out for new tenant. It would seem like tearing down those buildings with brand new tenants and leases isn't likely.

Good points. All I really think that proves though is that current owners are not looking to demolish these buildings. But the type of project that would demolish multiple buildings here and build a tall highrise would make any investment into these buildings look comparatively like pocket change and I certainly don't think enough money was spent to preclude their sale and demolition. The money spent on these buildings recently just means that if anyone wanted to demolish them to build a skyscraper here, the price to buy the current owners out would just have to be higher.

[Londonee]

Originally Posted by 1487

They just put a lot of money into the building where Liberty travel is located and the old Cricket location is currently being fitted out for new tenant. It would seem like tearing down those buildings with brand new tenants and leases isn't likely.

Wasn't there supposed to be a HOnky Tonk bar/music venue here as well that spilled out on Sansom Street? I can't remember the name of it, but it was definitely reported. The orange Liquor license notification was hung on an exterior window for a time.

[1487]

Originally Posted by Londonee

Wasn't there supposed to be a HOnky Tonk bar/music venue here as well that spilled out on Sansom Street? I can't remember the name of it, but it was definitely reported. The orange Liquor license notification was hung on an exterior window for a time.

Yes, that was the word at one time but ive seen nothing and heard nothing recently. Apparently they switched tenants or something. I thought that was the building where Liberty travel ended up.

[Jawnadelphia]

Originally Posted by Londonee

Wasn't there supposed to be a HOnky Tonk bar/music venue here as well that spilled out on Sansom Street? I can't remember the name of it, but it was definitely reported. The orange Liquor license notification was hung on an exterior window for a time.

"Tin Roof - the Nashville-based chain of bars with live music - will not open in Philadelphia, after all.

The $2 million project at 1525 Sansom St.- in a renovated building whose Chestnut Street front is now occuped by Liberty Travel - has been derailed by what owner Bob Franklin called zoning issues that were taking "too long for all parties." He described the decision to back off an "amicable agreement by all parties to go another direction.""


Read more at http://www.philly.com/philly/blogs/t...JdQUr5om334.99

[summersm343]

2108-10 Walnut Street - 9 floors - condo and ground floor retail

Not necessarily a skyscraper, but wanted to post it here anyways since this is a decently significant development. Will partially replace a rowhome on Walnut and also replace a small parking lot. Zoning notices are up on the site.





http://astoban.com/2108-10/

[EastSideHBG]

Budget stalemate puts a damper on developers' big plans for Philadelphia
Updated: FEBRUARY 22, 2016 — 5:34 PM EST
by Jacob Adelman, Inquirer Staff Writer.

The Pennsylvania budget stalemate wreaking havoc on Philadelphia's school and social-service finances could soon claim another victim: the city's expanding skyline.

Officials in Harrisburg are holding back funds from a program aimed at helping large, transformative redevelopment projects until the eight-month impasse is resolved.

That has forced developers expecting funds from the Redevelopment Assistance Capital Program (RACP) to delay - and consider downgrading - their big plans for the city.

"We're in the pack with other people," said Carl Dranoff, who applied for $20 million from the program for his SLS Lux hotel and condo project on South Broad Street. "We want to start in the summer, and we're not going to be able to do that unless this money becomes available pretty soon."

Philadelphia projects account for about $460 million of the $1.6 billion requested from the program statewide in 2015. They range from the Gallery at Market East shopping-mall redevelopment to the 3.0 University Place office building in University City, from the Chinatown Community Center mixed-use tower to the Viaduct Rail Park north of Center City.

"The RACP grants are often essential to make the economics of development work for certain kinds of projects," such as hotels and those with big public-space components, said Alan Greenberger, former deputy mayor for economic development, now a senior adviser to consultancy Econsult Solutions Inc.

Jeff Sheridan, a spokesman for Gov. Wolf, said the applications will remain under review "until there is an agreement on current and future revenue plans to fully fund state obligations."

Only a fraction of the applicants for RACP money will be successful, if past years' awards are any guide. Of the $1.1 billion in funding sought statewide in 2014, only $207.8 million was awarded.

Read more at http://www.philly.com/philly/busines...iuOuPPMh57P.99

[summersm343]

Remaking Sharswood

Work is already underway for the project’s first phase. By the end of last year, 500 families were relocated from the Blumberg site. Two of the three towers are slated for implosion on March 19th. Meanwhile, the authority is acquiring 1,300 neighborhood properties, 800 of which are privately owned, through eminent domain. Of those, 73 of are occupied. Demolition in the neighborhood is already making way for new developable sites. PHA is expected to award more development contracts soon, and it says it has funding sources and tax credits lined up for early phased work. But the project’s whole half-billion price tag assumes a lot of funding will fall in this project’s direction. That’s not at all set in stone.

http://planphilly.com/articles/2016/...king-sharswood

[jsbrook]

Nice on the Walnut 9-story, summers. This is particularly good because Walnut past the square is a bit meh. With projects like this, and the condo with retail going in with one of those townhome projects, and 1911 Walnut if it gets off the ground, that will start to change. Post Brothers also bought and is renovating a building on Walnut close to the Schuylkill, though as far as I can tell, not much has been done to it yet. I'd love to see the building that houses Sweat fitness at 24th and Walnut change hands and get reclad. It is hideous.

[1487]

Originally Posted by EastSideHBG

Budget stalemate puts a damper on developers' big plans for Philadelphia
Updated: FEBRUARY 22, 2016 — 5:34 PM EST
by Jacob Adelman, Inquirer Staff Writer.

The Pennsylvania budget stalemate wreaking havoc on Philadelphia's school and social-service finances could soon claim another victim: the city's expanding skyline.

Officials in Harrisburg are holding back funds from a program aimed at helping large, transformative redevelopment projects until the eight-month impasse is resolved.

That has forced developers expecting funds from the Redevelopment Assistance Capital Program (RACP) to delay - and consider downgrading - their big plans for the city.

"We're in the pack with other people," said Carl Dranoff, who applied for $20 million from the program for his SLS Lux hotel and condo project on South Broad Street. "We want to start in the summer, and we're not going to be able to do that unless this money becomes available pretty soon."

Philadelphia projects account for about $460 million of the $1.6 billion requested from the program statewide in 2015. They range from the Gallery at Market East shopping-mall redevelopment to the 3.0 University Place office building in University City, from the Chinatown Community Center mixed-use tower to the Viaduct Rail Park north of Center City.

"The RACP grants are often essential to make the economics of development work for certain kinds of projects," such as hotels and those with big public-space components, said Alan Greenberger, former deputy mayor for economic development, now a senior adviser to consultancy Econsult Solutions Inc.

Jeff Sheridan, a spokesman for Gov. Wolf, said the applications will remain under review "until there is an agreement on current and future revenue plans to fully fund state obligations."

Only a fraction of the applicants for RACP money will be successful, if past years' awards are any guide. Of the $1.1 billion in funding sought statewide in 2014, only $207.8 million was awarded.

Read more at http://www.philly.com/philly/busines...iuOuPPMh57P.99

I saw that and I'm a bit confused. For SLS (and the others) the money has NOT been granted yet. So how can Dranoff claim not having the money could force him to abandon the hotel when he has NEVER actually been awarded the grant? Was the hotel portion always on the bubble?

[jsbrook]

Originally Posted by 1487

I saw that and I'm a bit confused. For SLS (and the others) the money has NOT been granted yet. So how can Dranoff claim not having the money could force him to abandon the hotel when he has NEVER actually been awarded the grant? Was the hotel portion always on the bubble?

I'm confused too. I thought on SLS the money WAS granted. In any case, the city needs to stop approving demolition of historic buildings without firm financing in place.

[1487]

Originally Posted by jsbrook

I'm confused too. I thought on SLS the money WAS granted. In any case, the city needs to stop approving demolition of historic buildings without firm financing in place.

They have no control over that. If a private entity buys the property and its not protected they can't stop them from demolishing it to create space for something new. I don't believe the old building was protected by historical commission.

[Londonee]

Originally Posted by TallCoolOne

"Tin Roof - the Nashville-based chain of bars with live music - will not open in Philadelphia, after all.

The $2 million project at 1525 Sansom St.- in a renovated building whose Chestnut Street front is now occuped by Liberty Travel - has been derailed by what owner Bob Franklin called zoning issues that were taking "too long for all parties." He described the decision to back off an "amicable agreement by all parties to go another direction.""


Read more at http://www.philly.com/philly/blogs/t...JdQUr5om334.99

Wow that's a significant net loss on the fun factor scale. A live music venue unlike anything in the city (albeit probably pretty corny) versus...a travel agency. Hi, I'm in Delaware.

[boxbot]

It looks like they finally built the Arch in Conshohocken! How exciting!



http://philadelphia.craigslist.org/off/5450643202.html#