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  #5961  
Old Posted Sep 27, 2023, 8:34 PM
UrbanRevival UrbanRevival is offline
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Positive job growth news for the city/region continues.

From today's Metropolitan Employment/Unemployment Summary (BLS) release:

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Metropolitan Division Nonfarm Employment (Not Seasonally Adjusted)

In August, nonfarm payroll employment increased over the year in 15 metropolitan divisions and was essentially unchanged in 23 divisions. The largest over-the-year increases in employment among the metropolitan divisions occurred in New York-Jersey City-White Plains, NY-NJ (+174,400), Dallas-Plano- Irving, TX (+112,700), and Los Angeles-Long Beach-Glendale, CA (+99,700). (See table 4.)

The largest over-the-year percentage increases in employment occurred in Dallas-Plano-Irving, TX (+3.8 percent), Fort Worth-Arlington, TX (+3.6 percent), and Philadelphia, PA (+3.5 percent).
https://www.bls.gov/news.release/metro.nr0.htm
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  #5962  
Old Posted Sep 29, 2023, 8:31 PM
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Check out my new Philadelphia photo thread: PHILADELPHIA | Spring 2023

https://skyscraperpage.com/forum/sho...d.php?t=256233
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  #5963  
Old Posted Sep 30, 2023, 6:26 PM
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$250M mixed-use development planned for former Inspira Woodbury site

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A $250 million mixed-use development with housing, retail and a hotel is being planned as part of an overhaul of the former Inspira Woodbury hospital site in Gloucester County.

The City of Woodbury and Inspira Health unveiled plans on Monday for what is being dubbed the "Woodbury Health and Education Innovation District." Inspira shuttered its hospital on Red Bank Avenue and Broad Street in Woodbury after opening Inspira Medical Center Mullica Hill as a $365 million replacement facility in December 2019.

The redevelopment is expected to include market-rate housing, a Center for Innovation in Community Health, a hotel/conference center and restaurant, retail offerings, and senior housing to complement the health care services currently provided and planned on the 14.6-acre campus.

Real estate advisory firm CBRE has been retained by Inspira as master developer for the project, a role that involves leading discussions with proposed developers that will continue through October.

In early 2024, Inspira will move its existing Woodbury emergency and inpatient behavioral health services to a $60 million, two-story building that is currently under construction across the street from the existing emergency department to make way for the development of the innovation district. The new building will house a 24,900-square-foot 19-bed satellite emergency department, in addition to a 21,500-square-foot 20-bed inpatient behavioral health center and a new EMS station. Inspira is also spending $12 million on upgrades to existing buildings on the campus.
Article behind paywall here:
https://www.bizjournals.com/philadel...loucester.html
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  #5964  
Old Posted Sep 30, 2023, 6:30 PM
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Bridgeport developer looks for partner on ‘transformative’ riverfront project



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After a delay on its 250-unit apartment building in Bridgeport along the Schuylkill River, Pinnacle Realty Development Co. is looking for a joint venture partner.

Though the development site is listed for sale, Pinnacle’s preference is to partner with another developer to complete the building, company President Anthony Maras said.

The apartment building is part of Pinnacle’s larger plans for the site, at 55 E. Front St., which include 356 townhouses and 7,000 square feet of retail space with an additional 12 residential units. Harleysville-based Pinnacle is selling finished lots to homebuilder Lennar, which is constructing the townhouses.

Maras estimated the project’s entire cost is more than $160 million. He called it “transformative” for Bridgeport, which had a population of 5,066 in 2022, according to the U.S. Census Bureau. The development would allow for the population to increase by about 1,200 residents, or nearly 25%.

Given Pinnacle’s involvement with the entire project, the company wants to remain active with the apartments.

“Ideally, we would find an equity partner in this and [joint venture] it,” Maras said. “The theory was that the best avenue to find that [joint venture] partner would be to look for someone from a sales standpoint.”

The 35-acre site is in between Conshohocken and King of Prussia and on the south side of the Schuylkill River across from Norristown. It’s less than a mile from the Bridgeport Regional Rail station.

Pinnacle is now eyeing a construction start in late spring or early summer 2024.
Article behind paywall here:
https://www.bizjournals.com/philadel...ill-river.html
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  #5965  
Old Posted Oct 1, 2023, 12:02 AM
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Quote:
Originally Posted by summersm343 View Post
Bridgeport developer looks for partner on ‘transformative’ riverfront project





Article behind paywall here:
https://www.bizjournals.com/philadel...ill-river.html
The article got one thing wrong. Bridgeport doesn't have a regional rail station. It has a small station on the Norristown High Speed Line on Merion St between 5th and 6th Street. This development would as close if not closer to the Norristown Transportation Center on Lafayette Street as it would be walking up to the 100 Station. It would be an easier walk across the Dekalb Street Bridge from Front Street than it would be making your way up to the station in Bridgeport.

I hope this all does go through. Both sides of my family has roots in Bridgeport. I grew up in Norristown but both of my parents grew up in Bridgeport.
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  #5966  
Old Posted Oct 1, 2023, 6:48 AM
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Quote:
Originally Posted by PhillyRising View Post
The article got one thing wrong. Bridgeport doesn't have a regional rail station. It has a small station on the Norristown High Speed Line on Merion St between 5th and 6th Street. This development would as close if not closer to the Norristown Transportation Center on Lafayette Street as it would be walking up to the 100 Station. It would be an easier walk across the Dekalb Street Bridge from Front Street than it would be making your way up to the station in Bridgeport.

I hope this all does go through. Both sides of my family has roots in Bridgeport. I grew up in Norristown but both of my parents grew up in Bridgeport.
Depending on the routing, Bridgeport may receive an Amtrak stop on the line to Reading.
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  #5967  
Old Posted Oct 2, 2023, 2:35 AM
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Depending on the routing, Bridgeport may receive an Amtrak stop on the line to Reading.
The freight line that goes through Bridgeport never had passenger service anytime that I have ever known...although there is a Depot Street so maybe way back in time there was...but since my earliest memories of Bridgeport going back 52-53 years...there was never any train station that served passenger service. I thought the proposal was to run it through Norristown since it already has a Transportation Center. It would cross over the river through Barbadoes Island and connect to that freight line in Upper Merion behind Route 23.
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  #5968  
Old Posted Oct 2, 2023, 6:59 AM
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The freight line that goes through Bridgeport never had passenger service anytime that I have ever known...although there is a Depot Street so maybe way back in time there was...but since my earliest memories of Bridgeport going back 52-53 years...there was never any train station that served passenger service. I thought the proposal was to run it through Norristown since it already has a Transportation Center. It would cross over the river through Barbadoes Island and connect to that freight line in Upper Merion behind Route 23.
The current Amtrak proposal consists of restoring a since-removed connection to CSX at ZOO Interlocking, taking CSX to West Falls Yard, and then NS all the way to Reading. This line did historically have passenger service, but after the Reading electrified along the opposite side of the river, it became a freight-only line.

The only feasible way that Amtrak could run to Reading via Norristown would be to take the so-called “Pennsy connector” at North Philadelphia… a move which would be totally at grade and interfere not only with Amtrak’s NEC ops but also SEPTA’s Chestnut Hill West and Norristown lines.

The best way for Amtrak to run to Reading would be to do so via Cynwyd, by restoring the Ivy Ridge Line at least as far as Conshohocken before joining up with the existing SEPTA line. PAXON interlocking is completely grade separated, and would let Amtrak run under their own dispatch at least as far as Conshohocken.
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  #5969  
Old Posted Oct 2, 2023, 4:13 PM
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Home in the Borough of Conshohocken sells for just under $950,000

Craft Custom Homes purchased the property for $275,000 in March 2023 and took down the existing home to construct a new house. Realtor Binnie Bianco represented Craft in the sale of the home, which was originally listed for $949,900 in May 2023.

https://morethanthecurve.com/home-in...-under-950000/
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  #5970  
Old Posted Oct 2, 2023, 5:12 PM
PHLtoNYC PHLtoNYC is online now
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Quote:
Originally Posted by EastSideHBG View Post
Home in the Borough of Conshohocken sells for just under $950,000

Craft Custom Homes purchased the property for $275,000 in March 2023 and took down the existing home to construct a new house. Realtor Binnie Bianco represented Craft in the sale of the home, which was originally listed for $949,900 in May 2023.

https://morethanthecurve.com/home-in...-under-950000/
The unfortunate reality of home prices these days.

Are there a lot of teardowns in Conshohocken these days?
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  #5971  
Old Posted Oct 2, 2023, 5:36 PM
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Quote:
Originally Posted by EastSideHBG View Post
Home in the Borough of Conshohocken sells for just under $950,000

Craft Custom Homes purchased the property for $275,000 in March 2023 and took down the existing home to construct a new house. Realtor Binnie Bianco represented Craft in the sale of the home, which was originally listed for $949,900 in May 2023.

https://morethanthecurve.com/home-in...-under-950000/
Not what I envision when I think of putting down $1MM.
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  #5972  
Old Posted Oct 2, 2023, 9:14 PM
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Quote:
Originally Posted by PHLtoNYC View Post
The unfortunate reality of home prices these days.

Are there a lot of teardowns in Conshohocken these days?
I know several people who tore down their own smaller home and rebuilt. They said they loved their neighborhood.
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  #5973  
Old Posted Oct 3, 2023, 6:29 PM
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Originally Posted by PHLtoNYC View Post
The unfortunate reality of home prices these days.

Are there a lot of teardowns in Conshohocken these days?
Increasingly there are teardowns in Plymouth and Whitemarsh.

Plymouth Valley is a bit of a hotbed of tear down activity. Existing structures are rather small and unremarkable ranch homes (like sub 1000 square feet) on largish lots (.35-.50 acre).

The new homes on the teardown lots are selling for $750k to sub $1MM.
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  #5974  
Old Posted Oct 3, 2023, 7:01 PM
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Originally Posted by MyDadBuiltThat View Post
I know several people who tore down their own smaller home and rebuilt. They said they loved their neighborhood.
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Originally Posted by 3rd&Brown View Post
Increasingly there are teardowns in Plymouth and Whitemarsh.

Plymouth Valley is a bit of a hotbed of tear down activity. Existing structures are rather small and unremarkable ranch homes (like sub 1000 square feet) on largish lots (.35-.50 acre).

The new homes on the teardown lots are selling for $750k to sub $1MM.
I'm waiting for the ADUs (Granny Flats) to start to be more of a thing too. I haven't looked too into it yet and imagine there's some ordinances about it to work through but as space is gobbled up and the townships see dollar signs from adding more residents and the potential for more in property taxes I am sure the attitude will shift.
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  #5975  
Old Posted Oct 4, 2023, 1:42 PM
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Quote:
Originally Posted by EastSideHBG View Post
Home in the Borough of Conshohocken sells for just under $950,000

Craft Custom Homes purchased the property for $275,000 in March 2023 and took down the existing home to construct a new house. Realtor Binnie Bianco represented Craft in the sale of the home, which was originally listed for $949,900 in May 2023.

https://morethanthecurve.com/home-in...-under-950000/
Had something similar happen around the corner from us in Havertown. Sold for $260k in 2022, it was flipped with sq footage added and then sold this summer for $950k
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  #5976  
Old Posted Oct 4, 2023, 7:40 PM
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Wilmington - Downtown

Looks like we are getting closer to BPG's tower at 9th and Orange Street.



BPG's new apartment project at 4th and Market is under construction:



801 Market Street - is getting close to completion (large retail space on ground floor, and apartments above). Hopefully a grocer was finally signed on!



The old laundromat on the 500 block of King Street was razed yesterday. BPG is planning another new building here.

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  #5977  
Old Posted Oct 4, 2023, 7:52 PM
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Quote:
Originally Posted by Jawnadelphia View Post
Looks like we are getting closer to BPG's tower at 9th and Orange Street.

Do you have a rendering for this project?

Last edited by jonesrmj; Oct 4, 2023 at 8:48 PM.
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  #5978  
Old Posted Oct 5, 2023, 1:21 AM
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Do you have a rendering for this project?
Head back to page 294 of this thread, it’s there. The rendering was in a Philadelphia Business Journal article in the summer.
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  #5979  
Old Posted Oct 6, 2023, 2:59 AM
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Quote:
Originally Posted by EastSideHBG View Post
Home in the Borough of Conshohocken sells for just under $950,000

Craft Custom Homes purchased the property for $275,000 in March 2023 and took down the existing home to construct a new house. Realtor Binnie Bianco represented Craft in the sale of the home, which was originally listed for $949,900 in May 2023.

https://morethanthecurve.com/home-in...-under-950000/
Thirty years ago if you told anyone in Conshy a home there would sell for nearly a million dollars...they'd laugh at you.

I remember when Conshy was worse than Norristown. Drug dealers used to hang out in the open on East Hector Street back in the late 80's...had to pass them to get to a friends house in those days. It was not pretty along that river front either.

What a highway...Blue Route...and a developer with a real plan can do to change the trajectory of a town.
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  #5980  
Old Posted Oct 13, 2023, 4:04 PM
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Big new project for Downtown Wilmington, the groundbreaking ceremony was this morning. If one of the mods could get this linked up to the Philly page that would be awesome!

https://skyscraperpage.com/forum/sho...7#post10058627
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