PHILADELPHIA | Jessup House @ 12+Sansom | 265 FT | 20 FLOORS

[cardeza]

what makes people think a PROPOSED overlay can affect already approved projects? The building permit is just the last step, once it has zoning approval it cannot be stopped by new zoning regulations that pass after the fact. this is a non issue.

[Justin7]

^ Source?

[mcgrath618]

Originally Posted by Justin7

^ Source?

FWIW, the Washington Square Development Facebook group said the exact same thing. It would make sense, given how past zoning overlays have affected developments (One Dock is still happening, even with the new height limit).

[Justin7]

Originally Posted by mcgrath618

FWIW, the Washington Square Development Facebook group said the exact same thing. It would make sense, given how past zoning overlays have affected developments (One Dock is still happening, even with the new height limit).

I'm not saying he's wrong, but would appreciate some evidence other than "some people on the internet said so." Unlike SH, this change is at least ostensibly safety related which is a significant distinction. Either way, I guess we'll find out soon enough.

[skyhigh07]

Originally Posted by cardeza

what makes people think a PROPOSED overlay can affect already approved projects? The building permit is just the last step, once it has zoning approval it cannot be stopped by new zoning regulations that pass after the fact. this is a non issue.

I agree. It would be absurd if this proposal somehow managed to kill every project that's in the pipeline or under construction.

[cardeza]

Originally Posted by Justin7

^ Source?

Once a project has zoning approval you cannot revoke it due to zoning changes that become law AFTER the project gains approval. Same thing applies to code changes. Once permits are issued they are final and if the code changes after that the project is grandfathered in under the code that was in effect at the time of permit review.


The demo permit on the garage says the structure will be demolished on or after 6/8.

[TonyTone]

Cardeza Knows his stuff, I think he is a high level architect or CEO browsing SSP

[Justin7]

Originally Posted by cardeza

Once a project has zoning approval you cannot revoke it due to zoning changes that become law AFTER the project gains approval. Same thing applies to code changes. Once permits are issued they are final and if the code changes after that the project is grandfathered in under the code that was in effect at the time of permit review.

Source?

[PHL10]

Originally Posted by Justin7

Source?

I'm not answering your question but there probably isn't a source that says we don't need to lop the tops off of existing buildings if they exceed the new overlay either.

[mcgrath618]

Originally Posted by PHL10

I'm not answering your question but there probably isn't a source that says we don't need to lop the tops off of existing buildings if they exceed the new overlay either.

What are you talking about? When they enacted the Society Hill overlay, they had to take a massive laser and lop the tops off of the Society Hill Towers, the Washington Square Towers, and 500 Walnut.

[kool-ski]

Permit Number: DP-2021-000851
Major Demolition

https://eclipse.phila.gov/phillylmsp...ctId=348033758

[cardeza]

Originally Posted by kool-ski

Permit Number: DP-2021-000851
Major Demolition

https://eclipse.phila.gov/phillylmsp...ctId=348033758

Finally.

[TempleGuy1000]

Greystar to begin $100M apartment project at 12th and Sansom

Greystar, a company that manages 7,000 apartment units across the region, is embarking on its first project in Center City with the development of a $100 million-plus building at 12th and Sansom streets.

South Carolina-based Greystar is doing the project in a venture with Mesirow Financial, a Chicago firm in which it has partnered with on other investments. The 20-story project will rise on what is now a parking garage that will be demolished over the next couple of months, and have 399 apartments along with 11,000 square feet of commercial space.
The company likes to pay particular focus on the retail component of its projects as a way to help attract renters and establish a connection between pedestrians along the street and those living in the apartments.

“Fun, exciting retail helps lease apartment buildings,” Hayward said. “We would love to find a coffee user and integrate that into other parts of the building. We would like to find a small format market for residents and for the neighborhood. There’s a Target and CVS there and we don’t need to compete with those. It can be hard to find the right one.”

A restaurant is also an option that will be considered. Paige Jaffe of JLL is overseeing leasing the retail space.

While it kicks off this project, Greystar is looking for other opportunities in Center City, University City and West Philadelphia as well as suburban areas adjacent to the city such as Bala Cynwyd. The 12th and Sansom project is expected to be completed during the summer of 2023.

There's a bit about the overall rental market in this article too.

[mcgrath618]

Originally Posted by TempleGuy1000

Greystar to begin $100M apartment project at 12th and Sansom


There's a bit about the overall rental market in this article too.

Good things?

[PHLtoNYC]

Originally Posted by TempleGuy1000

Greystar to begin $100M apartment project at 12th and Sansom


There's a bit about the overall rental market in this article too.

Great to see this moving along, and I am not worried about the slight increase in vacancy and lower rents per SF, it seems to be a common symptom of the pandemic and will subside in the coming year. I just hope the retail space finds a nice tenant, hopefully food or home decor.

The only sentence that makes me nervous is this... "In spite of the city’s high taxes and costs for construction, Hayward said he likes Philadelphia’s “strong urban environment” and relatively affordable cost of living. “That makes it an interesting opportunity,” he said."

Yes, Philadelphia is a great urban city, but high taxes and cost to build may present a problem starting next year...

[SEFTA]

Great!
I like this project.
Perhaps the base could have been 5 or 6 stories as opposed to 2
but a very handsome project
materials will tell

[PurpleWhiteOut]

Originally Posted by PHLtoNYC

Great to see this moving along, and I am not worried about the slight increase in vacancy and lower rents per SF,

Plus, the vacancy increased in %, and a ton of apartments just came online that will take time to absorb.

[summersm343]

Build it!

[phlmatt]

The demolition crews have been doing preliminary work on the garage on the site the last couple weeks. As of this week, Sansom and 12th are both fenced and down to one lane each. The plan is to close 12th this weekend and demolition starts first thing tomorrow morning working from the west to east.

Going to be a great addition, but so much construction here with the Jefferson project a block north, lots of growing pains!

[cardeza]

equipment is on site and the garage is coming down as of this week. it was about 20% down when I walked by the other day.