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

[domodeez]

Originally Posted by Jawnadelphia

Sounds like we will need a new Wilmington high rise thread soon, there was a zoning meeting last night for a 22-story apartment building for Downtown. Another BPG jawn. Hope to see some renderings soon!

Fascinating. At the intersection of 12th and Orange. Both are car sewers at that location. Could use some public investment toward traffic calming. Great to see ground up residential planned for this location and for one or more surface parking lots to bite the dust.

[Jawnadelphia]

Originally Posted by domodeez

Fascinating. At the intersection of 12th and Orange. Both are car sewers at that location. Could use some public investment toward traffic calming. Great to see ground up residential planned for this location and for one or more surface parking lots to bite the dust.

Yep! If a mod could link this new thread to the Philly page, I'd appreciated it!

https://skyscraperpage.com/forum/sho...0#post10233500

[jonesrmj]

Originally Posted by Jawnadelphia

Sounds like we will need a new Wilmington high rise thread soon, there was a zoning meeting last night for a 22-story apartment building for Downtown. Another BPG jawn. Hope to see some renderings soon!

Wow, that's great to hear!

Correct me if I'm wrong, but the last time we got a high rise in Wilmington over 20 floors was the River Tower at Christiana Landing (27 floors) in 2007.

I am curious about how well the job market has been in Wilmington since WFH really took off. Same with the crime rates. From what I understand, crime did get worse in most cities during covid, but has since been slowly declining again.

And how is the job scene in Wilmington now? From what I remember before covid, it was consolidating and I imagine WFH may have accelerated that. But then again, this is just based on observations and I haven't really been "in the know" for a while.

Does anybody have some data on this?

[domodeez]

Originally Posted by jonesrmj

Wow, that's great to hear!

Correct me if I'm wrong, but the last time we got a high rise in Wilmington over 20 floors was the River Tower at Christiana Landing (27 floors) in 2007.

I am curious about how well the job market has been in Wilmington since WFH really took off. Same with the crime rates. From what I understand, crime did get worse in most cities during covid, but has since been slowly declining again.

And how is the job scene in Wilmington now? From what I remember before covid, it was consolidating and I imagine WFH may have accelerated that. But then again, this is just based on observations and I haven't really been "in the know" for a while.

Does anybody have some data on this?

Office vacancy rate in Wilmington CBD is 25-35% depending on which source you reference. Higher than pre-COVID but it’s been elevated for about 15 years. It’ll take quite a few more years for the office vacancy rate to come back down to healthy levels as many of the problem properties are not easily convertible to residential.

[Jawnadelphia]

To echo domodeez, there's still some large office vacancies, and Morris James leaving the WSFS Building in early 2025 for Avenue North doesn't help. But the Nemours, Brandywine, 901-903 N. Market Street buildings have been (or are in the process) converted to residentials.
Incyte's decision to move hundreds of jobs downtown to Rodney Square should have a great impact.
Crime - seems to be similar to other big cities in the region, the homicide spikes during the Covid years are down.
BPG said they have another 1,000 apartments in the pipeline for Wilmington, so it seems the "luxury apartment" market is booming.

Jones:
"Correct me if I'm wrong, but the last time we got a high rise in Wilmington over 20 floors was the River Tower at Christiana Landing (27 floors) in 2007."

-You are correct.