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

[summersm343]

Trump Taj Mahal closes doors, 2,800 lose jobs

Atlantic City continues it's plight. Something needs to be done. Showboat is being reopened as a non-Casino Hotel, and Revel is reopening as well. That still leaves 3 shuttered Casino's however.

http://www.bizjournals.com/philadelp...ntic-city.html

[Larry King]

I predict taj is reopened within 2 years after Union is broken

[jonesrmj]

Chemours to stay in Wilmington, 1,000 jobs kept

After considering relocating to other nearby states, Chemours has decided it will remain in Wilmington. The company prefers to stay at its current location at the DuPont Building, but will consider other sites. 8/1/16 Damian Giletto/The News Journal...

...Although Chemours will remain in Wilmington, it has not decided if it wants to stay in the DuPont Building. Chemours owns the 108-year-old building, which has served as the company's only headquarters since it split from DuPont.

Vergnano said his preference is to remain in the DuPont Building, but it must be modernized to be considered a viable option. Chemours will spend the next six to eight months reviewing other possibilities within Wilmington's downtown business corridor, he said...

...Last month, the state approved $1 million to a group affiliated with Wilmington developer Buccini/Pollin to acquire and upgrade the building adjacent to the Hotel du Pont. Buccini/Pollin has proposed completely gutting the office building in a $92 million renovation and then lease back 252,000 square feet on floors 4 through 13 to Chemours for 15 years, according to its application for the grant money...

To continue reading the article, click here:

http://www.delawareonline.com/story/...gton/87911760/

[domodeez]

^ Article is from 2 months ago & has been shared here. I'm not basing this on insider info, but I do expect Chemours will move to the Hercules Building at 1313 N Market and is simply working to increase its leverage to gain the most beneficial lease terms for that site. The Hercules Building is half empty (200K SF available, which is exactly what Chemours needs) and will default within two years if nothing changes. Why would the Chemours Board of Directors approve what is almost certainly going to be a higher dollar lease to stay at 10 x Market (or purchase BoA building, as has been discussed) when the Hercules Building is between a rock and a hard place?

http://www.delawareonline.com/story/...loan/87675048/

[domodeez]

Originally Posted by jonesrmj

Is this the building where there's a Starbucks coming to the bottom floor?

Originally Posted by domodeez

It's at 627 Market http://residemkt.com/property/mkt-627/

This Starbucks opened yesterday at 7 x Market in Wilmington. It's nice and big, will add to the street life along Market. Will get pictures next time.

[jonesrmj]

Here's a cool image:



This image was taken in Wilmington 5 decades ago when they built 300 Delaware Avenue. These people were taking a break on the top part of the framework.

This is what the building looks like today:

[summersm343]

Originally Posted by summersm343

Allen Edmonds
Altar'd State
Anthropologie
BoConcept
Bonobos
Bottega Veneta
Bulgari
Carolina Herrera
Calligaris
Clarins
COS
Diane Von Furstenberg
Fendi
Jimmy Choo
Landing Gear
Marc Cain
Mitchell Gold & Bob Williams
MCM
Nic+Zoe
Novesa London
Official Unlimited
Oliver Peoples
Primark
Rag & Bone
Robert Graham
Shinola Detroit
St. John
Stuart Weitzman
Suit Supply
Super Dry
Vince

Phillip Plein is coming to KOP Mall The line-up here continues to amaze.

http://www.simon.com/mall/king-of-prussia/stores

[jonesrmj]

Originally Posted by summersm343

Phillip Plein is coming to KOP Mall The line-up here continues to amaze.

http://www.simon.com/mall/king-of-prussia/stores

Speaking of malls, I just recently went to Concord mall and unfortunately, it seems to be on the way of a deadzone. There are very little people there and it has a ton of stores closing. I wonder what's going to happen

[jonesrmj]

Originally Posted by domodeez

This Starbucks opened yesterday at 7 x Market in Wilmington. It's nice and big, will add to the street life along Market. Will get pictures next time.

They've added a bunch of Starbucks. The one at Harlan Flats, the one at the Nemours Building, and now the one you are talking about.

[jonesrmj]

Originally Posted by domodeez

^ Article is from 2 months ago & has been shared here. I'm not basing this on insider info, but I do expect Chemours will move to the Hercules Building at 1313 N Market and is simply working to increase its leverage to gain the most beneficial lease terms for that site. The Hercules Building is half empty (200K SF available, which is exactly what Chemours needs) and will default within two years if nothing changes. Why would the Chemours Board of Directors approve what is almost certainly going to be a higher dollar lease to stay at 10 x Market (or purchase BoA building, as has been discussed) when the Hercules Building is between a rock and a hard place?

http://www.delawareonline.com/story/...loan/87675048/

If Chemours does move there, than I wonder what will happen to the Dupont Building. I haven't herd of many companies that have planned on moving to the Dupont Building, but I don't imagine that it will never get another company.

[kingtut]

One more reason among many for start-ups to come to Philly . I think the City and the universities have to do a better job at getting this kind of info out .

https://www.bloomberg.com/news/artic...r-tech-startup

[summersm343]

Chemical company ResinTech Inc. of West Berlin, may get $139 million in tax breaks to move to Camden

Read more here:
http://www.philly.com/philly/busines...to_Camden.html

[summersm343]

Bold new Rutgers science and nursing building looks like good medicine in downtown Camden

The nursing and science building Rutgers University is constructing at Fifth and Federal Streets in Camden will offer state of-the-art classroom, laboratory and collaborative learning space for about 1,000 students.

Ahead of an expected opening next spring, and with work about 80 percent completed, the $62.5 million project already is a dramatic presence in downtown Camden.

The building is big -- four stories, 200,000 square feet -- and has a jazzy triangular shape with a corner suggesting the prow of a ship. It's got a stylish dash of attitude.

In a welcome nod to the 500 block's mercantile heritage, the nursing and science building will include three storefronts, totaling 9,000 square feet along Federal.

Read more here:
http://www.philly.com/philly/blogs/i...n-Camden-.html

[summersm343]

Chemical company moving to Camden with help from $139 million in tax breaks

The New Jersey Economic Development Authority on Friday approved $139 million in tax incentives for a West Berlin chemical-manufacturing company to move to Camden.

ResinTech Inc., which makes chemicals that are used in water and wastewater treatment, will relocate its corporate headquarters and build two manufacturing plants near Federal Street and River Road in East Camden. The company will bring 265 existing jobs to the city and hire for 55 new positions.

With the move to Camden, the company will consolidate employees from out-of-state locations into New Jersey, Gottlieb said. Additionally, the new plant will allow ResinTech to do certain manufacturing procedures stateside, instead of outsourcing them to overseas companies. The plan for the 385,000 square-foot complex includes $8 million committed to solar energy.

http://www.philly.com/philly/news/ne...ax_breaks.html

[jonesrmj]

A new rendering for the CSC Headquarters building has been released.



It doesn't look too different from the previous rendering:



This project is going to add a lot of traffic to DE-48 when it's completed and open. I would be surprised if it doesn't.

[Slyfox]

Has anyone heard anything recently about the expansion of the Newark Rail Station in Newark, DE? For years they'd been speaking about adding a third rail between Wilmington DE and Newark Station to increase service, as well as speaking with Maryland Trans to expand rail service from Perryville MD to Newark Station, which would allow one to leave Baltimore and arrive in Philadelphia by taking only MARC & SEPTA.

http://www.dartfirststate.com/inform...ary_082108.pdf

About a year go the New Journal had an article stating the state was going forward instead they would expand Newark Station rather than relocate it. Has anyone heard anything about this or DE state rail expansion?

[jsbrook]

Originally Posted by summersm343

Trump Taj Mahal closes doors, 2,800 lose jobs

Atlantic City continues it's plight. Something needs to be done. Showboat is being reopened as a non-Casino Hotel, and Revel is reopening as well. That still leaves 3 shuttered Casino's however.

http://www.bizjournals.com/philadelp...ntic-city.html

Things are not looking good for AC...It's looking like the next Camden. I think it's going to be very hard to put all these buildings (the shuttering casinos, etc...) to a viable use and get people to buy them.

[EastSideHBG]

Originally Posted by jsbrook

Things are not looking good for AC...It's looking like the next Camden. I think it's going to be very hard to put all these buildings (the shuttering casinos, etc...) to a viable use and get people to buy them.

I agree. AC was always kind of dumpy to me and will be even more so now, things are not looking good. What they need is a hardcore reinvention and with their location it wouldn't be too hard to pull off with the right vision and leadership.

[summersm343]

^^Agreed. They need to make it a more family friendly resort city with a strong focus still on nightlife and gambling.

I mean Revel is reopening as a hotel/casino/nightlife/restaurant destination named Ten.

Showboat is reopening as a hotel.

That leaves only Trump Taj Mahal and Trump Plaza empty, right?

[domodeez]

Originally Posted by domodeez

More information on the hotel project:

http://www.delawareonline.com/story/...fast/79764672/

Good progress in the last 4-6 weeks since my previous update.

Looking northeast from 13 x Market: