PHILADELPHIA | Highrise Development Thread IX

[PhiLaw]

Not sure if this was posted yet

New Tech Company at 2401 Walnut
Mayor Michael A. Nutter on January 16 announced that Poptent, a crowd-sourced video production and distribution company, has opened a new office with 27 employees at 2401 Walnut Street.

The company moved into the city to have better access to skilled tech workers who want to live and work in Philadelphia, the press release noted.

Poptent produces commercials and other video assets through a large social network of more than 70,000 videographers in about 140 countries, according to the press release.

To read the press release, please go to bit.ly/1eVvDAA.

2401 Walnut Street already houses two fast growing tech firms, Ticketleap (ticketleap.com) and Curalate (curalate.com).

Centercityphila.org

[Pennsgrant]

So I just skimmed thru Goldenbergs Market 8 casino video that was done by Plan Philly.

For all of us here this is probably the bid we are hoping to win as it looks like it would add to the vibrancy,city fabric,and skyline. According to the info from the video right from Goldenbergs mouth.

-Mohegan Sun is a partner and would run the gaming operation.

- The entire project is continuous. No phase 2-3-4 etc etc.

- Concert venue.

-Hersha would be the hotel operator.

-Timeline is scheduled to be next week to announce winner. -If Market 8 Wins

-6 months to 18 months of lawsuits.

-Then 2 years to open the casino.

-The hotel would take an additional year to complete construction . So they would still be constructing the hotel while the casino is open. Looking at 2018 before the hotel is finished.

[Plokoon11]

Wow thos city is on fire!

[PhiLaw]

Originally Posted by Pennsgrant

So I just skimmed thru Goldenbergs Market 8 casino video that was done by Plan Philly.

For all of us here this is probably the bid we are hoping to win as it looks like it would add to the vibrancy,city fabric,and skyline. According to the info from the video right from Goldenbergs mouth.

-Mohegan Sun is a partner and would run the gaming operation.

- The entire project is continuous. No phase 2-3-4 etc etc.

- Concert venue.

-Hersha would be the hotel operator.

-Timeline is scheduled to be next week to announce winner. -If Market 8 Wins

-6 months to 18 months of lawsuits.

-Then 2 years to open the casino.

-The hotel would take an additional year to complete construction . So they would still be constructing the hotel while the casino is open. Looking at 2018 before the hotel is finished.

One good thing about the Market 8 design is it makes it more difficult for them to pull a bait and switch. The hotel is enmeshed within the casino itself - makes it unlikely we will have another slot barn

[McBane]

http://forum.skyscraperpage.com/showthread.php?t=167260

LOL

[christof]

Originally Posted by PhiLaw

One good thing about the Market 8 design is it makes it more difficult for them to pull a bait and switch. The hotel is enmeshed within the casino itself - makes it unlikely we will have another slot barn

The problem is that the market is over saturated. I would rather see Jefferson buy this piece of land and be a research tower. If not Jefferson, then maybe another corporation. This casino is going to cause more trouble than good over the long term.

[miesian]

Gambling is indeed "iffy", but at least this proposal could be easily re-adapted to office/retail if the bottom falls out, not like a pseudo-Vegas extravaganza.

[japmes]

Originally Posted by christof

The problem is that the market is over saturated. I would rather see Jefferson buy this piece of land and be a research tower. If not Jefferson, then maybe another corporation. This casino is going to cause more trouble than good over the long term.

I totally agree with that. I realize this probably won't happen but I don't think the city needs another casino. As crappy as it is, better to let Sugar House develop their concept than dilute the market with another shoddy slot barn that will most likely cater to the poor and elderly.

[josef]

Originally Posted by McBane

http://forum.skyscraperpage.com/showthread.php?t=167260

LOL

I'm just amazed phase 2 is happening. Phase 2 never happens.

[el don]

Just had a group meeting today with higher ups from Drexel. They started taking about some projects in Drexel's pipeline.

They did confirm that Drexel is working on eventually capping the rail yards, though this is a ways away.

They also said that they are finalizing a deal with a hotel provost for the botique location at 33rd and Chestnut. If I remember correctly I think they said something like 850ish rooms.

And they are trying hard to purchase the vacant high school from the city, the are one of two finalists for the deal. They said it Drexel had an up hill battle however, since the other competitor is trying to turn it into a commercial property, thus creating tax revenue for the city.

Finally, they said 6 older buildings are going to be renovated including the hideously ugly university crossings building.

Cheers

[hammersklavier]

Originally Posted by el don

Just had a group meeting today with higher ups from Drexel. They started taking about some projects in Drexel's pipeline.

They did confirm that Drexel is working on eventually capping the rail yards, though this is a ways away.

They also said that they are finalizing a deal with a hotel provost for the botique location at 33rd and Chestnut. If I remember correctly I think they said something like 850ish rooms.

And they are trying hard to purchase the vacant high school from the city, the are one of two finalists for the deal. They said it Drexel had an up hill battle however, since the other competitor is trying to turn it into a commercial property, thus creating tax revenue for the city.

Finally, they said 6 older buildings are going to be renovated including the hideously ugly university crossings building.

Cheers

This buiding? I don't think it's particularly ugly, though I grant it doesn't face Market--nor was it intended to; it doesn't even have a Market St. façade. It started out life as a PRR office building, a long time ago. (It's supposed to face JFK Boulevard/Powelton Yards.)


http://goo.gl/VC4Akk, http://goo.gl/3BH3br, http://www.americancampus.com/portfolio?propertyId=21


http://goo.gl/QToSdW


http://goo.gl/DBcUvn

Redevelopment of the Firestone site will be the best thing to happen to University Crossings.

[Pennsgrant]

Originally Posted by McBane

http://forum.skyscraperpage.com/showthread.php?t=167260

LOL

McBane Im as skeptical as they come but I found the Goldenberg interview regarding Market 8 to be credible. The location is just too critical to allow a 3 story slot box. I won't use Sugarhouse as a guide to what will happen if Market 8 gets the second license

He has Mohegan Sun(one of the largest in the world) as his gaming operator.

Hersha will be involved with the hotel portion

Deutsche Bank as the creditor..

[Pennsgrant]

Originally Posted by christof

The problem is that the market is over saturated. I would rather see Jefferson buy this piece of land and be a research tower. If not Jefferson, then maybe another corporation. This casino is going to cause more trouble than good over the long term.

The low budget casino market is oversaturated. There are 3 of them , 4 if you want to include Delaware Park going after the same lunch bucket demographic.

The Borgata/Water Club is a shining example of what Market 8 should be striving for. An ultra hip destination casino hotel that is basically sold out every weekend with rates at $500 bucks per night. Theres close to 1,000 rooms between the Borgata/Waterclub.


Due to the location Market 8 is really the only proposal that could pull off a Borgata like experience imo.

[iheartphilly]

Originally Posted by Pennsgrant

The low budget casino market is oversaturated. There are 3 of them , 4 if you want to include Delaware Park going after the same lunch bucket demographic.

The Borgata/Water Club is a shining example of what Market 8 should be striving for. An ultra hip destination casino hotel that is basically sold out every weekend with rates at $500 bucks per night. Theres close to 1,000 rooms between the Borgata/Waterclub.


Due to the location Market 8 is really the only proposal that could pull off a Borgata like experience imo.

And they are lined up to be run by Mohegan Sun, which it has experience in this type of structure. Google their location in Conneticut.

[Wayne Junction]

Originally Posted by miesian

Gambling is indeed "iffy", but at least this proposal could be easily re-adapted to office/retail if the bottom falls out, not like a pseudo-Vegas extravaganza.

Great point. I wonder how much impetus for the Market8 project was banking on the Convention Center getting its act together and attracting more commerce. The bottom seems to have fallen out of there already. Why build a white elephant next to another white elephant?

[Flyers2001]

Originally Posted by iheartphilly

And they are lined up to be run by Mohegan Sun, which it has experience in this type of structure. Google their location in Conneticut.

Foxwoods is very nice. But do not confuse the success of Foxwoods with what Market 8 could/would be. Competition plays a huge part.

But if your comment is in regards to Mohegan Sun being capable of running a higher end casino, I would agree.

[Jelly Roll]

Originally Posted by Flyers2001

But if your comment is in regards to Mohegan Sun being capable of running a higher end casino, I would agree.

I really hope that Market 8 wins the bid.

[Salonica city]

I really hope they don't win the last license. The only person that can make it happen I think is blandstein. With the provence. He already proved it in nolibs not that I am a fan of the piazza but alot of people are. Which he put that location on the map nationly with his piazza. I personally was aware of the area before the piazza because had relatives In The area. But now almost all the young adults converge to the area. So he knows the needs and wants of the young adults and soon to be the professionals that we are hoping will frequent the highend casinos. So Mark is good at filling those voids imo. And After reading his proposal and myself being a consumer, for lack of better word, of these high end hotels/clubs/restaurants and a frequent gambler. I think the province will be our best bet. And the market area I believe needs to be pushed by fashion and also a great idea would be to put a new basketball arena in that location.

[Kidphilly]

Originally Posted by el don

Just had a group meeting today with higher ups from Drexel. They started taking about some projects in Drexel's pipeline.

They did confirm that Drexel is working on eventually capping the rail yards, though this is a ways away.

They also said that they are finalizing a deal with a hotel provost for the botique location at 33rd and Chestnut. If I remember correctly I think they said something like 850ish rooms.

And they are trying hard to purchase the vacant high school from the city, the are one of two finalists for the deal. They said it Drexel had an up hill battle however, since the other competitor is trying to turn it into a commercial property, thus creating tax revenue for the city.

Finally, they said 6 older buildings are going to be renovated including the hideously ugly university crossings building.

Cheers

85 or 850ish - 850 is not a boutique by any stretch

[shadowbat2]

Hotel open at navy yard....

Good timing for Navy Yard hotel


DAVID GAMBACORTA, Daily News Staff Writer [email protected], 215-854-5994
Posted: Sunday, January 26, 2014, 3:01 AM

WHEN A relentless winter storm buried the city under 14 inches of snow Tuesday, plenty of people knew they were in for a long, miserable night.

Canceled flights. Delayed trains. Car rides that were destined to end soon after they started on the side of some whited-out road.

But there was a silver lining amid all of the white stuff if you happened to be in a certain stretch of South Philly: the Marriott's brand-new hotel in the Navy Yard was open, and eager to take on guests.

The Courtyard Philadelphia South at the Navy Yard, which opened for the first time earlier this month, sold out all of its 172 rooms on the night of the storm, said Jennifer Tran, manager of the Navy Yard's marketing and communications for the Philadelphia Industrial Development Corporation.

The guests were a mix of folks schlepping through the city, stranded travelers who had tried to catch flights at Philadelphia International Airport, and employees from the Navy Yard's ever-growing corporate campus.

All things considered, it wasn't a bad way to introduce people to the eye-catching hotel, which boasts a Starbucks and a bistro, where visitors can grab a bite to eat.

"The hotel just opened on Jan. 7, and so far, all the feedback has been very positive," Tran wrote in an email.

"Everyone is thrilled to have yet another option to get a coffee, conduct a business meeting over food, or get a drink after work at the first bar at the Navy Yard since being converted to a mixed-use campus."

The green hotel (it was built to Leadership in Energy and Environmental Design standards) offers free Wi-Fi. Rooms start at $199, but the hotel's website had some available as of last night for as low as $111.

The opening of the hotel is another milestone in the Navy Yard's remarkable rebirth. About this time last year, city officials celebrated the fact that the 1,200-acre campus was home to 10,000 jobs and 130 companies, including GlaxoSmithKline and the Tasty Baking Co. (Can't forget the eclectic food-truck scene, either.)

An ambitious master plan calls for residential developments and nightlife offerings to be included in the not-so-distant future.

In November, the Daily News reported that U.S. Sen. Bob Casey had asked the Federal Transportation Agency to discuss the prospect of extending SEPTA's Broad Street subway line into the Navy Yard.

"The subway extension is always at the top of our minds, especially as the campus continues to expand," Tran said.

"The hotel gives us another reason for continued discussion; having the subway at the Navy Yard will better connect employees, visitors, and hotel guests to other points throughout Philadelphia."

Read more at http://www.philly.com/philly/business/20...Navy_Yard_hotel.html#3eujPI0RbtsQodDs.99