PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[summersm343]

Pennsylvania Gov. Shapiro seeks to 'catch up' to New Jersey, Ohio with new economic development plan

As he prepares for a formal budget address before legislators in Harrisburg on Feb. 6, Gov. Josh Shapiro on Tuesday outlined a series of key investments he'd like the commonwealth to make as part of a new 10-year economic development plan for Pennsylvania.

His administration said this pitch is the first "comprehensive plan of its kind" to assist with Pennsylvania's economic growth in nearly 20 years.

The plan features five defined goals: A call for more investment into competitive economic growth opportunities; sustaining his administration's mission of making the government "work at the speed of business" via faster permitting and approval processes; increasing job opportunities for Pennsylvanians by creating more career pathways for those already in the workforce; backing more innovators and entrepreneurs at the state level; and improving on and enhancing regional strengths for the betterment of the entire state.

Specifically, Shapiro is seeking the following investments:

-$25 million for the new Main Street Matters program to support small businesses and commercial sectors in communities around the state;

-$10 million for the Agriculture Innovation Program to lead to business-favorable disruption in the agriculture sector and "significant" innovation-related funding for startups and entrepreneurs;

-$3.5 million to launch the new Pennsylvania Regional Challenge to drum up localized growth efforts based on established strengths;

-$2 million for the ‘Career Connect’ program to better pair employers with employees, offer thousands of internships, keep young adults in Pennsylvania and ensure everyone can obtain a "family-sustaining" job; and,

-A "major investment" in site development to promote more commercial and industrial growth that hopes to build on last fall's PA SITES program, which saw 102 applicants request more than $236 million in funding out of the offered $10 million that had been set aside for grants to be used on site assessments and remediation prep work

Shapiro's economic vision is also focused on the five key industry sectors of agriculture, energy, life sciences, manufacturing, and robotics and technology.

Article behind paywall here:
https://www.bizjournals.com/philadel...n-shapiro.html

[PhillyRising]

Originally Posted by summersm343

Hilarious to me that the state can’t find the money to fund SEPTA, but they can find the money to fund absolutely pointless highway interchange and on/off ramps.

That interchange is supposed to help Norristown rebound with better access from the Turnpike. The current Norristown interchange on the Turnpike is in Plymouth Meeting and doesn't exactly offer a fast ride into Norristown. In fact, it's kind of confusing if you don't really know where you are going because there are no signs on which way to take.

So yes this interchange is needed and it will take traffic off of Germantown Pike which is a bear on most days as people in Norristown and most likely Conshy use that interchange to access the Turnpike.

[EastSideHBG]

Whitemarsh Township releases draft zoning changes that could bring more apartments and townhouses to area of Spring Mill Train Station in Conshohocken

You can view the draft document here: https://www.whitemarshtwp.org/Docume...WEBSITE-PACKET

https://morethanthecurve.com/whitema...-conshohocken/

Originally Posted by PhillyRising

That interchange is supposed to help Norristown rebound with better access from the Turnpike. The current Norristown interchange on the Turnpike is in Plymouth Meeting and doesn't exactly offer a fast ride into Norristown. In fact, it's kind of confusing if you don't really know where you are going because there are no signs on which way to take.

So yes this interchange is needed and it will take traffic off of Germantown Pike which is a bear on most days as people in Norristown and most likely Conshy use that interchange to access the Turnpike.

Agreed and it's a necessary evil at this point.

[EastSideHBG]

Change could be coming to office park along Ridge Pike/Colwell Lane in Conshohocken

https://morethanthecurve.com/change-...-conshohocken/

[EastSideHBG]

Originally Posted by EastSideHBG

Change could be coming to office park along Ridge Pike/Colwell Lane in Conshohocken

https://morethanthecurve.com/change-...-conshohocken/

More info on this one:

Potential partial redevelopment of office park in Conshohocken would include apartments and high end grocery store with own label

https://morethanthecurve.com/potenti...ith-own-label/

[UrbanRevival]

Another impressive feather in Conshohocken's cap!

I know it would be fantastic for Philly to win out on a relocation like this. However, I definitely see it as a net positive, as this location is MUCH more commutable from Philly than Chesterbrook is (something that I'm sure factored into their decision).

Also should be a nice bump for SEPTA's Manyunk/Norristown line.

Boomi to relocate its headquarters after hitting a half-billion dollars in revenue last year

One of the Philadelphia region's biggest tech success stories is moving its headquarters, taking more than 40,000 square feet in Conshohocken.

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

[PhillyRising]

Originally Posted by EastSideHBG

More info on this one:

Potential partial redevelopment of office park in Conshohocken would include apartments and high end grocery store with own label

https://morethanthecurve.com/potenti...ith-own-label/

I'm old enough to remember that whole property was a drive in movie into the 70's...and the screen faced Ridge Pike.

[PhilliesPhan]

Originally Posted by UrbanRevival

Another impressive feather in Conshohocken's cap!

I know it would be fantastic for Philly to win out on a relocation like this. However, I definitely see it as a net positive, as this location is MUCH more commutable from Philly than Chesterbrook is (something that I'm sure factored into their decision).

Also should be a nice bump for SEPTA's Manyunk/Norristown line.

As much as I'd also like Boomi in the city, Conshohocken is the next best spot. Plus, the more that businesses move to Conshohocken, the more that Northwest Philly neighborhoods stand to benefit. Homes are still selling in a matter of days in my section of Roxborough (same situation for my in-laws up in Chestnut Hill), and it's likely thanks to the Northwest's proximity to three of the region's largest job centers in Center City/University City, Conshohocken, and KOP.

As a daily rider of the Manayunk/Norristown Line, trains are getting packed in both directions. I take #6249 into Center City and I'll occasionally see #3208 heading towards Norristown. During the Tuesday-Thursday rush, #3208 seems to be just as packed as my inbound train to Center City.

[Jawnadelphia]

Paywall - https://www.delawareonline.com/story...e/72267166007/

But Chris Buccini revealed BPG is working on the first major building for Riverfront East now (sounds like we should hear something this year), and -- BPG also wants to build Wilmington's first large, new office tower in Downtown in about 20 years (since the WSFS building completed in 2007). Buccini says despite nearly 30% office vacancy Downtown, and 3 large buildings being almost completely empty -- BPG feels the city needs a brand new, Class A building with all the bells and whistles of new construction (and those older, empty buildings are dinosaurs). Gotta love BPG's unabashed optimism for Wilmington.

As for the first Riverfront East building, it is most likely for this plot here, this is purely an artist rendering but I do think the first building will look something like this -- hug the Christina River bank. Parcel A (yellow highlight):


https://land-collective.com/projects...t-master-plan/

https://riverfronteast.com/development-opportunities



Some additional updates here:

BPG's apt building at 4th and Market - "Humble Park"


801 N. Market - new apts and retail (the crane for The Press - in the background)


BPG's "Market West" - apt conversion project for the Nemours Building continues, which will become "The Standard"


Over on the other side of town, Capano's "The Falls" on Brandywine Creek - building number #4 is getting ever so close to completion




A smaller project in Forty Acres - right behind the bars on Delaware Avenue (Trolley Square) is nearly complete - "The Lofts on Shallcross"

[jonesrmj]

Originally Posted by Jawnadelphia

Paywall - https://www.delawareonline.com/story...e/72267166007/

But Chris Buccini revealed BPG is working on the first major building for Riverfront East now (sounds like we should hear something this year), and one nugget -- BPG also wants to build Wilmington's first large, new office tower in Downtown in about 20 years (since the WSFS building completed in 2007). Buccini says despite nearly 30% office vacancy Downtown, and 3 large buildings being almost completely empty -- BPG feels the city needs a brand new, Class A building with all the bells and whistles of new construction (and those older, empty buildings are dinosaurs). Gotta love BPG's unabashed optimism for Wilmington.

Interesting tidbits! You can bypass the paywall by copying the url and pasting it on this website - https://www.removepaywall.com

With the whole remote work thing and the decline for a need of office space, I'm surprised that they would want to build a new large office building. I feel like they would need to get a sizable company to relocate or seriously invest in Wilmington for that to work. Perhaps it could become the new tallest building in the city? (Current tallest in Wilmington is 1201 North Market Street at 360 feet (110 meters) tall with 23 floors. It's been the tallest in the city since its completion in 1988). Maybe a mixed-use building could make more sense since that's what most cities that are building skyscrapers are going for these days?

Looking forward to the Riverfront East development when the buildings start breaking ground there! Any updates on the infrastructure progress there? Have the streets been fully laid out yet?

[TonyTone]

Originally Posted by Jawnadelphia

Paywall - https://www.delawareonline.com/story...e/72267166007/

But Chris Buccini revealed BPG is working on the first major building for Riverfront East now (sounds like we should hear something this year), and -- BPG also wants to build Wilmington's first large, new office tower in Downtown in about 20 years (since the WSFS building completed in 2007). Buccini says despite nearly 30% office vacancy Downtown, and 3 large buildings being almost completely empty -- BPG feels the city needs a brand new, Class A building with all the bells and whistles of new construction (and those older, empty buildings are dinosaurs). Gotta love BPG's unabashed optimism for Wilmington.

As for the first Riverfront East building, it is most likely for this plot here, this is purely an artist rendering but I do think the first building will look something like this -- hug the Christina River bank. Parcel A (yellow highlight):


https://land-collective.com/projects...t-master-plan/

https://riverfronteast.com/development-opportunities



Some additional updates here:

BPG's apt building at 4th and Market - "Humble Park"


801 N. Market - new apts and retail (the crane for The Press - in the background)


BPG's "Market West" - apt conversion project for the Nemours Building continues, which will become "The Standard"


Over on the other side of town, Capano's "The Falls" on Brandywine Creek - building number #4 is getting ever so close to completion




A smaller project in Forty Acres - right behind the bars on Delaware Avenue (Trolley Square) is nearly complete - "The Lofts on Shallcross"

Originally Posted by jonesrmj

Interesting tidbits! You can bypass the paywall by copying the url and pasting it on this website - https://www.removepaywall.com

With the whole remote work thing and the decline for a need of office space, I'm surprised that they would want to build a new large office building. I feel like they would need to get a sizable company to relocate or seriously invest in Wilmington for that to work. Perhaps it could become the new tallest building in the city? (Current tallest in Wilmington is 1201 North Market Street at 360 feet (110 meters) tall with 23 floors. It's been the tallest in the city since its completion in 1988). Maybe a mixed-use building could make more sense since that's what most cities that are building skyscrapers are going for these days?

Looking forward to the Riverfront East development when the buildings start breaking ground there! Any updates on the infrastructure progress there? Have the streets been fully laid out yet?

Great Updates Jawn, I need to get out there with the drone and get all the updates.

Interesting as we were just talking about Comcast expanding, do we think they would put a Tower down in Riverfront East? it would make sense with the growing economy out there.

Also Jones did you see the Wilmington airport is doing so good they are doing an expansion?

Last time I drove by the airport every parking lot was packed, ive never seen that before and when I saw it I said to my self that will be upgrading the old terminal building soon and here it comes.

https://delawarebusinesstimes.com/ne...%20passengers.

[summersm343]

After flirting with Houston, Compact Membrane Systems commits to Delaware with new HQ and plans to hire

After considering a move to Houston, Compact Membrane Systems decided to double down on Delaware.

The company has invested some $3.1 million to build out a new headquarters in New Castle with 15,000 square feet of space, about 50% more than it currently occupies in Wilmington, and plans to triple its headcount within two years.

Compact Membrane Systems CEO Erica Nemser said the climate technology manufacturer is in the early stages of relocating and expects the process to be complete by April. The new headquarters at 15 Reads Way has existing lab space that is being modified and outfitted for Compact Membrane Solutions' research, development and manufacturing needs.

Compact Membrane Systems began adding employees following its Series A raise last summer, upping headcount from about 20 to 30 in recent months with the bulk of them coming from Philadelphia-area universities, according to Nemser. The company plans to grow its staff to 60 by 2026 with most of those new hires based in Delaware.

Read/view more here:
https://www.bizjournals.com/philadel...ew-castle.html

[summersm343]

West Chester's Greystone Hall eyed for luxury resort and spa redevelopment

A New York hospitality company is in talks to acquire the remaining Greystone Hall property in West Chester with plans to redevelop it into a luxury boutique resort and spa.

Mirbeau Hospitality Services has a purchase agreement with the Jerrehian family, Greystone Hall's longtime owners, Mirbeau partner Jonathan Dal Pos told the Business Journal. Located at 2450 Aram Ave., the 44-acre property includes Greystone Hall's historic three-story mansion, a garage and a carriage house. The parcel is the remainder of the original 441-acre Greystone property.

The acquisition of 117-year-old Greystone Hall is a part of Mirbeau's efforts to expand out of the Northeast and down the East Coast. When the company first saw the Chester County property, Dal Pos said it was "immediately obvious" that it should be home to its next resort.

At Greystone Hall, Mirbeau is proposing to create 80 guest rooms across several new and existing buildings. The 18,000-square-foot mansion would have eight overnight accommodations, while the carriage house and garage would house another 11 rooms combined, according to documents submitted by Mirbeau to West Goshen Township.

Adjacent to the mansion, Mirbeau has proposed to build a three-story central spa building that would house the spa on the first floor and 33 guest rooms across the next two levels. The spa, which Dal Pos called the "heartbeat" of the Mirbeau concept, would be open for daily use by non-hotel guests, which make up about 60% of its business.

Mirbeau is also proposing the construction of seven cottages on the property that would each house another four guest rooms for a total of 28 more rooms. In addition to the spa and overnight accommodations, Dal Pos said the resort will offer a restaurant serving French-inspired cuisine in the mansion that would also be accessible to non-hotel guests.

In total, he projects that the resort would create around 150 jobs for the area.

Article behind paywall here:
https://www.bizjournals.com/philadel...velopment.html

[summersm343]

Federal Realty set to break ground on redevelopment of former Lord & Taylor store in Bala Cynwyd

Federal Realty Investment Trust plans to break ground this spring on a six-story, 217-unit apartment building at the Bala Cynwyd on City Avenue shopping center following the success of the first 87 apartments built at the retail property.

The first phase of the residential project, named the Delwyn, was completed in 2020 and is 97% leased. In January 2021, Federal Realty tenant Lord & Taylor closed its department store at 121 E. City Ave. and vacated the two-story, 120,000-square-foot property, giving the Maryland-based real estate firm an opening to demolish that building and add more apartments at the retail center.

“We’re obviously happy with the way [the Delwyn] has delivered quality residential units to the Bala Cynwyd market, and we feel there’s an opportunity given the lack of lease-ability for a 1960s-era department store,” said Mark Brennan, vice president of regional development at Federal Realty Investment Trust.

The upcoming project is planned to be completed by summer 2026 and would have 16,000 square feet of ground-floor retail space and a two-level parking garage. The retail space would likely have multiple tenants, possibly restaurants or service retail like banks, dry cleaners or small fitness boutiques, Brennan said.

Article behind paywall here:
https://www.bizjournals.com/philadel...partments.html

[EastSideHBG]

Proposed zoning ordinance could bring dramatic changes to Fayette Street along upper avenues in Conshohocken

The language of the draft ordinance lays out six points that it meant to achieve:

-Encourage economic development and redevelopment of underutilized parcels.
-Assist in unifying Fayette Street as an attractive, vibrant mixed-use corridor.
-Promote pedestrian orientation of streets and buildings.
-Use scale, building orientation, and landscaping to establish community identity.
-To incentivize lot assembly and consolidation toward the more efficient and cost-effective
use of land.
-Simplify and streamline the approval process.
https://morethanthecurve.com/propose...-conshohocken/

[3rd&Brown]

Originally Posted by summersm343

West Chester's Greystone Hall eyed for luxury resort and spa redevelopment



Article behind paywall here:
https://www.bizjournals.com/philadel...velopment.html

We are so lucky in this region to have so many walkable suburbs.

West Chester is on fire right now.

[Marcos]

few shots from yesterday of The Press at 8th & Orange, Wilmington. This place is massive, once this thing fills up it's going to be difficult to get a picnic table across the way at Makers Alley

https://uniim1.shutterfly.com/render...&ts=1708085962

https://uniim1.shutterfly.com/render...&ts=1708085962

https://uniim1.shutterfly.com/render...&ts=1708085963

https://uniim1.shutterfly.com/render...&ts=1708085963

sorry, apparently I still don't know how to post photos properly

[jonesrmj]

Originally Posted by TonyTone

Also Jones did you see the Wilmington airport is doing so good they are doing an expansion?

Last time I drove by the airport every parking lot was packed, ive never seen that before and when I saw it I said to my self that will be upgrading the old terminal building soon and here it comes.

https://delawarebusinesstimes.com/ne...%20passengers.

I actually didn't hear about that. That's great to hear! I hope the airport continues to succeed, and I look forward to possible expansions. It would be interesting to see if they could get another airline to set up shop. I think it would be good if they could get one of the big three US Airlines (American, Delta, United) to hopefully attract more business travel rather than just leisure travel.

Here's a simple mockup I made for how I would expand/redevelop the Wilmington Airport based on how it's currently setup:



Perhaps it could connect to a future metro/light rail system for Wilmington! (Though something like this would probably never happen in my lifetime)

[PhillyRising]

Originally Posted by summersm343

West Chester's Greystone Hall eyed for luxury resort and spa redevelopment



Article behind paywall here:
https://www.bizjournals.com/philadel...velopment.html

I just drove through the Greystone development a month or so ago as a short cut from Pottstown Pike over to Phoenixville Pike to get to Chester County Hospital....and holy moly the amount of houses they have built on that property is staggering....

[PHLtoNYC]

Originally Posted by PhillyRising

I just drove through the Greystone development a month or so ago as a short cut from Pottstown Pike over to Phoenixville Pike to get to Chester County Hospital....and holy moly the amount of houses they have built on that property is staggering....

Nearly 600 homes, and expensive. Massive development.