PHILADELPHIA | Highrise Development Thread IX

[DIESELPOLO]

Originally Posted by ePlanningPhila

KOP released their expansion plans today. The new connection adds 155,000 sq ft of retail. Bringing the total sq footage to 2.86 million. (Largest in the nation). It seems they are targeting high end retailers. It will be interesting to see if this adds some life to the mall. Is it just me, but the few times I have been there outside of the holidays, the mall was dead. (Maybe this just reflects suburbia in general). The court has struggled more than the plaza, based on the vacancies I see. I am guessing this will create a stronger synergy. For this to be successful I really thought they would of added more of an outward "center" type of design, similar to the grove in Los Angeles.

http://www.phillymag.com/shoppist/2014/11/19/king-prussia-mall-unveils-expansion-plans/#gallery-1-1

Very 'meh' about KOP expansion - I'm not sure why though.

Also, what's up with that outdoor-mall (The Grove?) picture? It's unnecessarily misleading.

Personally, I think the Willow Grove mall, while already a high performer, could be an awesome new urbanist site and take advantage of it's "lake" as a "waterfront" and be a great locals/regional experiential retail alternative from KOP. Especially since KOP isn't experiential so much as you go there if you want to shop.

And with PREIT at the helm at WG, they're already well-versed in re-imagining and re-positioning (ex. Voorhees Town Center) mall sites.

[Kidphilly]

Originally Posted by Londonee

That and the fact that's it's in Hawthorne. Where's a cafe that's a block or two away to get your morning coffee? How about a great corner pub that's a few block walk? Good BYOB that's right around the corner? Nope. In other words you'd live in the city, without any of the charming benefits of city-living.

I think you may be "birds eye viewing" things a bit. Sure it borders "G-ho" and Bella Vista - but to get to Cambridge or Little Spoon it's a half-mile walk. Same with the Italian Market. Hawthorne's is like almost 3/4 of a mile away. It's a Big City, why anyone who knows it would choose to live there especially to the tune of 1000+ units (!) escapes me.

devils den and hawthornes are like literally a 4 minute walk I live two blocks from this proposal and there is stuff on every corner once across 11th and imagine a coffee shop would come there is Dunkin two blocks at Christian and and a quaint coffee shop at 10th and carpenter plus Pho out the wazoo I dont buy ur mantra here sometimes do but not on this

[cafeguy]

And so it begins! Liberty square is demolishing the warehouse in Olde Kensington. Maybe this will help SOKO move along. Regardless, SOOOO much work is happening in Olde Kensington!!! Pretty annoying, however. Waking up at 6:45am every morning with the sound of these MASSIVE vehicles right outside my window...knocking the walls down, scrapping metal across the ground.... the entire house shakes with things falling off shelves. It's going to be a LOOOOOOOONG 2 years of non-stop work.





http://philadelphiaheights.wordpress.com...1203-germantown-avenue-to-be-built-soon/

[Kfmcshan]

An info-only presentation about the redevelopment of Bok Technical High School at 1901 S. 9th St. took place last night in front of a packed house at Southwark Elementary School.

Scannapieco mentioned that they will seek historic tax credits to preserve the property. Early plans include multiple “live/maker” spaces where innovation can take place as well as “affordable rental [residential] units” in the upper floors. This would include membership spaces, much like NextFab Studio, filled with equipment and tools. It would also include entrepreneurial co-working spaces for start-ups, tech companies, other small businesses or even job training.

Also mentioned in the article:
-opening up public spaces and possibly a rooftop terrace to create traffic and energy
-transforming the existing basement into parking
-retail space
-possible grocery store or location of the South Philly Co-Op, which is looking for a space


http://www.passyunkpost.com/2014/11/20/e...pace-and-public-living-rooms/#more-16799

[sayitaintso]

Originally Posted by summersm343

Both the state and city of Philadelphia are in dire need of a business tax restructuring. We're just not business friendly, at all. Hopefully, newly elected Tom Wolf can do this for the state, and 2016 elect city mayor can do it for the city.

Tom Wolf.. business friendly?? What have you been smoking my friend...he moved his company to get away from PA taxes

[summersm343]

Originally Posted by sayitaintso

Tom Wolf.. business friendly?? What have you been smoking my friend...he moved his company to get away from PA taxes

Didn't say he was... nor do I really follow politics. I was simply stating that change is needed, and maybe a new governor can do this for us. Something has to be done sooner or later, or PA will continue to slip into irrelevancy with it's archaic business tax structure as places like Texas, Massachusetts, California, etc. continue to take companies away.

[br323206]

Originally Posted by sayitaintso

Tom Wolf.. business friendly?? What have you been smoking my friend...he moved his company to get away from PA taxes

I don't want this to devolve into a political debate but that assertion, featured in an attack ad by Corbett, has been debunked. After Wolf left the company the first time the private equity firm that bought it moved the charter to Delaware, so Wolf wasn't even around at the time. Furthermore, the company remains incorporated in Pennsylvania and pays all PA corporate taxes. It never incorporated in DE and never used the DE loophole.

Also, even if this claim were true, it wouldn't mean he's not business-friendly. On the contrary, running a business in the Commonwealth would make him uniquely aware of the restraints that PA law puts on businesses.

[jsbrook]

Originally Posted by sayitaintso

Tom Wolf.. business friendly?? What have you been smoking my friend...he moved his company to get away from PA taxes

That doesn't mean he's not business friendly. It means the city ans state's tax policies aren't. (I don't know enough about him to say either way).

[MusicMan84]

um...can we not? kthanks.

[sayitaintso]

Originally Posted by summersm343

Didn't say he was... nor do I really follow politics. I was simply stating that change is needed, and maybe a new governor can do this for us. Something has to be done sooner or later, or PA will continue to slip into irrelevancy with it's archaic business tax structure as places like Texas, Massachusetts, California, etc. continue to take companies away.

I agree and hope he will too, but Dems are not known for lowering taxes so I'm not optimistic.

[acenturi]

American Airlines MAY be looking for a new Headquarters:
http://www.bloomberg.com/news/2014-11-20...quarters-move-one-year-after-merger.html

The entire Philly political/business machine should put together an impossible to turn down incentive package for the Navy Yard, or another CC scraper. Although this is likely only an AMR strategy to get something (more) out of Texas, it'd be a major, major coup if Philly pulled this off.

[VikingDutchman]

Originally Posted by acenturi

American Airlines MAY be looking for a new Headquarters:
http://www.bloomberg.com/news/2014-11-20...quarters-move-one-year-after-merger.html

The entire Philly political/business machine should put together an impossible to turn down incentive package for the Navy Yard, or another CC scraper. Although this is likely only an AMR strategy to get something (more) out of Texas, it'd be a major, major coup if Philly pulled this off.

Just to be clear, we're talking about the artist formerly known as US Airways, having adopted the brand name of its acquisition an attempt to escape its horrible customer reputation, yes?

On the one hand, it'd be a great boon for the city (especially if we could get it in CC). On the other hand, do we really want Philly to be known as "Headquarters of the companies everyone hates most."

Perhaps we can go after Bank of America next!

[Cro Burnham]

AMR moving to this region - forget about Philly itself - is about as likely as the Sixers winning the NBA championship this year.

There's absolutely no fit with that company and this city. It would be a bad idea to blow tons of resources to get them here just to have them pull a Cigna on us in 5 or 10 years. Let's find ways to nurture companies that want to be here, not ones that need to be bribed to be here.

[Flyers2001]

Originally Posted by VikingDutchman

Just to be clear, we're talking about the artist formerly known as US Airways, having adopted the brand name of its acquisition an attempt to escape its horrible customer reputation, yes?

On the one hand, it'd be a great boon for the city (especially if we could get it in CC). On the other hand, do we really want Philly to be known as "Headquarters of the companies everyone hates most."

Perhaps we can go after Bank of America next!

Taking the name of the business acquired is not uncommon. Philly's largest bank at the time First Union acquired Wachovia, but used Wachovia's name.

[BenKatzPhillytoParis]

The Philly Fed Index came in at 40.8, more than double expectations and the highest since 1993. Can't think of a better measure that broadly reflects the health of our region. Great news.

http://www.cnbc.com/id/102207152

[VikingDutchman]

Originally Posted by Flyers2001

Taking the name of the business acquired is not uncommon. Philly's largest bank at the time First Union acquired Wachovia, but used Wachovia's name.

True, but it's certainly embarrassing when the main impetus for doing so is to escape an utterly trashed customer reputation.

Comparatively most companies that do this are hoping to profit off the higher brand recognition of the acquired company (which is ironically what happened when old America West bought US Airways years ago), but American can hardly claim greater brand recognition than US Airways.

[summersm343]

Dranoff's Royal Theater Redev

Images are a little grainy but renderings are in the link. Think this looks great. Great improvement to an eyesore of South Street West. Build it!

http://www.ocfrealty.com/naked-philly/gr...ny-renderings-of-dranoffs-royal-proposal

[summersm343]

Sayyy whatttt???

SEPTA and PATCO fare integration

http://www.metro.us/philadelphia/patco-s...haring-agreement/zsJnkt---aFKnv9xmtqZVI/

[MusicMan84]

If SEPTA and PATCO manage to (eventually) achieve a complete fare integration, along with the bike share program, it would be so convenient!

[PhillySteaks]

Anyone attend the ULI conference today? Dr.Linneman spoke. Some very intriguing things about Philadelphia and RE markets in general.