PHILADELPHIA | Highrise Development Thread IX

[PHL10]

Originally Posted by TempleGuy1000

What bothers me most about Philly.com is it literally is our equivalent to D.C.'s Washington Post and NYC's New York Times. At one point in history the Inquirer was one of the most well respected papers in the country. Today? It is a shell. A glorified click-bait blog site making money off of clicks hiding behind the once great brand. It is embarrassing as a city to have such a trash institution continually run negative articles that a lot of the time look to race bait and diminish the good that is done everyday in this city. That stupid article was on their front page for two full days.. pieces of trash. The actual local new sites are much more "the news" and not dushbag bloggers opinions. If I were Inga, I would stop worrying so much about the poles in the middle of Broad St. and worry about what kind of trashy organization that she represents.

Sorry end rant.

To be fair, Philly.com is not the Philadelphia Inquirer and shouldn't be equated. Today's front page includes the Democrat Convention, escalating violence in Israel, the future of the USS United Sates, and Iowa GOP voters concerns with immigration. The side bar on the front page includes Eagles, Mets, Temple, Business equality among the genders, suspicions about the PGW bid, and SEPTA emergency readiness drills. There is no mention of the crappy editorial.

[skyscraper]

Originally Posted by PHL10

To be fair, Philly.com is not the Philadelphia Inquirer and shouldn't be equated. Today's front page includes the Democrat Convention, escalating violence in Israel, the future of the USS United Sates, and Iowa GOP voters concerns with immigration. The side bar on the front page includes Eagles, Mets, Temple, Business equality among the genders, suspicions about the PGW bid, and SEPTA emergency readiness drills. There is no mention of the crappy editorial.

Philly.com is essentially the Inquirer. All the Inky really cares about is local news. Almost any national and international stories are just copies from the news services; they don't have their own staff writing these stories, they devote all of their resources to the local stories, with very few exceptions. NYT and Washington Post, rags though they are, are not just local papers and conduits for the wire services. They are what used to be called "newspapers of record", meaning they were the authoritative sources of the news - local, national, and international. I don't think the Inky ever reached that level, although the Bulletin might have.

[Aaamazarite]

Originally Posted by McBane

Does anyone know anything about this group of townhouses and the adjacent vacant lot on the east side of the 200 block of S. 9th St (right before Locust)?
https://goo.gl/maps/hopSFdrL1hy

I was walking by and taken aback by the empty lot. At closer look, the townhouses were all vacant, run down, and each had an ominous orange placard. I was hoping it was for demolition and we'd be getting a new midrise tower here but alas the signs were just for required repairs.

A non-profit called "Abbott inc" has been slowly acquiring all the buildings/lots on that block over the last 20 years but still hasn't been able to get 217 S 9th for some reason. They list their address as the 15th Floor of the Will's Eye hospital, but if you go up there all you'll find is Jefferson's plastic surgery office. Its is somewhat of a mystery, but I'm thinking its future expansion space for Jefferson.

[allovertown]

Originally Posted by skyscraper

Philly.com is essentially the Inquirer. All the Inky really cares about is local news. Almost any national and international stories are just copies from the news services; they don't have their own staff writing these stories, they devote all of their resources to the local stories, with very few exceptions. NYT and Washington Post, rags though they are, are not just local papers and conduits for the wire services. They are what used to be called "newspapers of record", meaning they were the authoritative sources of the news - local, national, and international. I don't think the Inky ever reached that level, although the Bulletin might have.

No PHL10 is right. Philly.com is not the Inquirer. Articles that appear in the Inquirer and the Daily News appear on Philly.com, but neither newspaper has any editorial control over Philly.com or what they display on their front page. In fact Philly.com used to be an entirely different company that was distinct from the Inky and DN. In the most recent bankruptcy proceedings they all got rolled into one big company but they are still operated separately.

The Inquirer was never the NYT or Washington Post but it was a highly respected local newspaper that was if nothing else an important regional resource. Today the Inquirer is a shell of it's former self and its demise should be mourned instead of celebrated. At the very least can we not blame the Inquirer for Philly.com's atrocities?

Most of what is posted on philly.com, especially on its front page has absolutely NOTHING to do with the Inquirer and is produced and posted without a single bit of input from anyone that is associated with the Inquirer. This garbage opinion piece in question was posted by Philly.com and was never printed in the Inquirer and has nothing to do with the Inquirer.

[edwardsm86]

I'd hate to interupt this riveting conversation about philly.com vs the Inquirer, but can we get back to talking about developments, as is the intention of this thread.

And now back to your regularly scheduled programming..

The new or future projects I'm most exited about, and why, are:

2100 Market, because it'll finally put something in the huge gap between PECO and the Murano.
Cira II, because when it does happen, it'll likely be far larger than 750ft and the most beautiful building in the city.
HUP. I, for one, actually like the latest design renderings because it's prominent and sleek, as Penn Medicine is. I think it'd be nice if they added dimension to the face of it, kinda like 1919 Market or Johns Hopkins Hospital in Batlimore.
SLS, because it's about damn time the city starts building 500ft + buildings on the East side of Broad.
Reading Viaduct, because it'll be right up there with the High Line.
Schuykyll Banks extension, because I am tired of ending all of my runs and rides and the South Street Bridge.

Who else is exited about new/future projects? Which ones? Why?

[1487]

These "get back on topic before I go crazy" posts are annoying. Nothing is going to remain a hot topic for more than a day or two. When there is interesting development news/pics to discuss it will be discussed. On slow news days conversation may drift slightly- not the end of the world.

[br323206]

Originally Posted by edwardsm86

I'd hate to interupt this riveting conversation about philly.com vs the Inquirer, but can we get back to talking about developments, as is the intention of this thread.

And now back to your regularly scheduled programming..

The new or future projects I'm most exited about, and why, are:

2100 Market, because it'll finally put something in the huge gap between PECO and the Murano.
Cira II, because when it does happen, it'll likely be far larger than 750ft and the most beautiful building in the city.
HUP. I, for one, actually like the latest design renderings because it's prominent and sleek, as Penn Medicine is. I think it'd be nice if they added dimension to the face of it, kinda like 1919 Market or Johns Hopkins Hospital in Batlimore.
SLS, because it's about damn time the city starts building 500ft + buildings on the East side of Broad.
Reading Viaduct, because it'll be right up there with the High Line.
Schuykyll Banks extension, because I am tired of ending all of my runs and rides and the South Street Bridge.

Who else is exited about new/future projects? Which ones? Why?

I don't understand why these projects would make you want to leave. I'm quite excited about them.

[loverboie]

[IMG]http://[url=http://postimage.org/][/url]
image hosting over 5mb[/IMG]

Whatever happen to this project, does anyone have any update, knowledge of this propose project?

[McBane]

Brandywine update: http://www.philly.com/philly/business/ho...ngs_to_raise_cash_for_city_projects.html

No mention of the third Cira building. Just FMC and their recently acquired Market St properties.

[loverboie]

This has nothing to do with development news, but I just wanted to express my love for this great City. I grew up in the Wynnfiled Section of West Philly. I left Philly, went of to college in Miami, came back and now I am living in the same neighborhood I grew up in. My mom is only a few block away from me yaw..OMG..LOL...Either way, i love Philly, and its many different type of neighborhoods, and I must say I love the farmers Market across the street from me, it is always pack. I love being back to the city that I call my second home.

[summersm343]

Parker Spruce Hotel Owner Presents Plans for “Boutique” Fairfield Inn; Neighbors Air Grievances

Plans call for the Parker to become an actual hotel with an instantly recognizable and trusted brand: a Fairfield Inn and Suites by Marriott, with 118 rooms that cater to upper middle class visitors and families and rates in the $200/night range. "This will be the only Fairfield in downtown Philadelphia," said Wankawala.

Tara Betz, Wankawala's regional director of hotel operations, then explained that the Marriott is one of the toughest flags to secure in the hospitality world, “You get to Marriot by having other brands, and that’s where we started and worked our way up to, and now we are finally green-lighted for a Marriott product.”

In an effort to reassure those in attendance that it won't return to its old Parker ways, Betz said Marriott holds management to a stringent set of rules, regulations and guidelines. In fact, Betz went on to say, the hotel is subject to unannounced inspections by Quality Assurance every 6 months. “So we have to keep it on the up and up, cause you never know when they’re walking through the door," said Betz.

Interior demolition on the property has already begun (more on that later), and Wankawala later explained he expected construction to begin in the "4th quarter of this year" and expects "to complete the project by 3rd quarter of [2016]."

Read more at http://www.phillymag.com/property/2015/10/20/parker-spruce-hotel-philadelphia/#ZaH05PlGqGfMt9x4.99

[summersm343]

Office Rents in Market East Closing Gap With Market West

Philadelphia’s central business district (CBD) experienced a 91.1% occupancy rate in the third quarter of 2015, with 47,832 square feet (SF) absorbed and asking rents averaging $27.70, up 1.9% over the previous quarter, according to JLL’s Office Insight, Philadelphia, Q3 2015. Suburban Philadelphia’s vacancy rate was 15.7%, with 490,224 SF of absorption and an average rent of $24.67, down 0.6% from the previous quarter.

Two years ago, Class A asking rents were 16% higher in Market West than in Market East. A year later, the gap was 14.1% and currently is only 7.4%, the report noted.

Of the 2,224,864 SF of office space under construction in the CBD, 79.6% is preleased.

Multifamily Leads Development

Multifamily projects continue to dominate development in Philadelphia’s central business district (CBD), with almost 6,000 units scheduled to be completed in the next three years, plus the possibility of 1,500 additional units, according to the JLL Chart of the Week for October 12.

Overall, there are more than 18 million square feet under construction or proposed in the CBD. The largest project is the Comcast Innovation and Technology Center at 18th and Arch Streets, to be completed in fall 2017.

Developer to Build Office Tower in University City

Developer Scott Mazo last week began demolition of the Pep Boys store at 41st and Market Streets in preparation for next spring’s groundbreaking for his forthcoming $70 million office building, 3.0 University Place, The Philadelphia Inquirer reported on October 12. The 190,000-square-foot, five-story structure will boast state-of-the-art features such as photoreactive glass, and the developer will seek LEED Platinum certification for the building.

Mazo's 2.0 University Place, which opened in 2013 at 41st Street and Powelton Avenue, is now 90% leased, the article noted.

Toll Brothers Pursuing Society Hill Playhouse Development

Toll Brothers is negotiating with neighborhood groups over a proposed development of theSociety Hill Playhouse, where the builders would like to create 17 condominiums and 18 parking spaces, PlanPhilly reported.

The development needs a zoning variance, and if City Council approves it, Toll Brothers will complete the project in approximately 2½ years.

The Playhouse has not yet announced its closing, the article noted.

http://www.centercityphila.org/pressroom/ccnews102015.php

[Kfmcshan]

Brandywine sells some Mt. Laurel holdings to raise cash for city projects

Brandywine Realty Trust is shedding some South Jersey holdings amid a sell-off aimed at raising funds to sustain development plans in Center City and other core markets.

...

Radnor-based Brandywine also is said to be shopping around the former 30th Street Main Post Office building that now houses the Internal Revenue Service's local staff, according to John Guinee, an analyst with Stifel Nicolaus & Co.

Proceeds from these sales will likely be funneled into projects like the FMC Tower near 30th Street Station and the eventual redevelopment of recently acquired properties on Market Street, Guinee said.

http://www.philly.com/philly/business/ho...ngs_to_raise_cash_for_city_projects.html

[BenKatzPhillytoParis]

Originally Posted by summersm343

Office Rents in Market East Closing Gap With Market West




Multifamily Leads Development




Developer to Build Office Tower in University City




Toll Brothers Pursuing Society Hill Playhouse Development



http://www.centercityphila.org/pressroom/ccnews102015.php

How is there 2.2 million square feet of office space being constructed in CBD?

[Philly-Drew]

Originally Posted by 1487

These "get back on topic before I go crazy" posts are annoying. Nothing is going to remain a hot topic for more than a day or two. When there is interesting development news/pics to discuss it will be discussed. On slow news days conversation may drift slightly- not the end of the world.

You crack me up dude.

[Boku]

Planning Commission approves rezoning for Italian Market apartment project

http://planphilly.com/articles/2015/10/2...ing-for-italian-market-apartment-project

Also, you gotta love this at the bottom of the article:

Some background is in order: that earlier bill plays into a long and boring saga related to Finnigan’s Wake, a bar and local Democratic Party outpost at 3rd and Spring Garden streets in Northern Liberties. Earlier this year, Council approved, with the Planning Commission’s endorsement, a bill rezoning the Finnigan’s Wake site from CMX-2 to CMX-3 in anticipation of a planned conversion of the bar into a 5-story office complex.

On Tuesday—you couldn’t make this up, and why would you want to?—the Commission was considering a bill that would undo the earlier rezoning, introduced by Councilman Mark Squilla because the office project had fallen through.

After some discussion, the Commission voted to recommend approving the bill that would repeal the bill that the Commission had recommended approving. Though some Commissioners pointed out this was a strange way to plan, they ultimately decided that the Finnigan’s Wake property might as well be in conformity with the surrounding properties on the north side of Spring Garden—CMX-2, to wit, rather than CMX-3.

[1487]

Originally Posted by BenKatzPhillytoParis

How is there 2.2 million square feet of office space being constructed in CBD?

That may include FMC tower.

[New2Fishtown]

JLL tracks Market East, Market West, University City, and the Navy Yard as the CBD office market. I'd say it's up for debate as to how best to classify The Navy Yard in terms of its regional role in the office market, but as a major jobs center near the urban core of the city that often competes for similar companies as the rest of CC, JLL lumps it in. Point being, the 2.2M number for office comes from projects across those 4 submarkets:

CITC: 1.3M
FMC: 600k
34 S 11th Street: 160k
1200 Intrepid: 94k

Barring any slowdown, looks like we may be heading into a period of sustained office construction if projects like 3.0 Univ. Pl, 3675 Market, 15-21 S 11th, and Brandywine's 2100 Market project get moving.

[BenKatzPhillytoParis]

Originally Posted by New2Fishtown

JLL tracks Market East, Market West, University City, and the Navy Yard as the CBD office market. I'd say it's up for debate as to how best to classify The Navy Yard in terms of its regional role in the office market, but as a major jobs center near the urban core of the city that often competes for similar companies as the rest of CC, JLL lumps it in. Point being, the 2.2M number for office comes from projects across those 4 submarkets:

CITC: 1.3M
FMC: 600k
34 S 11th Street: 160k
1200 Intrepid: 94k

Barring any slowdown, looks like we may be heading into a period of sustained office construction if projects like 3.0 Univ. Pl, 3675 Market, 15-21 S 11th, and Brandywine's 2100 Market project get moving.

Cool, thanks for the clarification!

[cafeguy]

Originally Posted by Boku

Planning Commission approves rezoning for Italian Market apartment project

http://planphilly.com/articles/2015/10/2...ing-for-italian-market-apartment-project

Also, you gotta love this at the bottom of the article:

It makes sense to do this though. The changed the zoning for the office building. If they building gets sold and the new zoning stays, then they can turn it into a wonderfully loud mega complex bar. The neighborhood is less afraid about the height or density and more afraid of it becoming a nuisance entertainment building as Finnegan's wake was...hence, this makes sense.