PHILADELPHIA | Highrise Development Thread IX

[summersm343]

Originally Posted by Justin7

How is this going to hold Philly back? An employee should be paid what he or she is worth to the company hiring. This is remedial free-market-supply-and-demand that I'm amazed anyone would side with Comcast on this one. Always amazed by how far right this forum is.

It's just another difficulty an employer has to go through in the process of hiring an employee. Plus filing for City Wage tax, business U&O, etc. etc.

If Philadelphia had a friendly business climate, I would be all for this. However, since Philadelphia has an unfriendly business climate, adding more stepping stones for an employer just seems like a bad move at the current moment. I know it's not much in the grand scheme of things, but doing anything to turn off businesses to the city at the current moment when we're finally gaining momentum is just a bad move.

And I voted for Hillary by the way.

[summersm343]

Originally Posted by br323206

Zoning is CMX-4.

Thank you... so yes this can be built by right then.

[summersm343]

Philadelphia rents rose second-fastest in the nation in 2016, new report says

With 2016’s housing market defined by rising home prices, low inventory, and an increasing demand for urban living, it probably comes as no surprise that rents have been on the upswing across the country.

But in a nation where cities such as New York and San Francisco have garnered widespread attention for explosive residential-rent growth, there’s one thing that may be slightly more unexpected: Last year, Philadelphia experienced the second-highest average monthly rental increase of all U.S. cities.

According to a new report issued by the apartment-search website Abodo, rents within the Philadelphia city limits rose an average of 4.2 percent month-over-month throughout the course of 2016, trailing only Columbus, Ga., which experienced monthly growth at nearly 5 percent. Meanwhile, the national average for rent prices saw modest monthly gains at only 0.67 percent, a rate Philadelphia outpaced nearly six times over.

By some measures, Philadelphia’s steep price increase makes sense: Luxury apartments have inundated Center City, offering residents highly amenitized living at more expensive prices. At the same time, home values in the city spiked in the first quarter last year to pre-recession levels — an indicator that is good news for homeowners, but one that also makes buying more difficult for first-time or low-income shoppers.

“House prices have been galloping upward so quickly over the past 18 months,” Kevin Gillen, a senior research fellow at Drexel University’s Lindy Institute for Urban Innovation, said Tuesday. “A lot of houses are really out of reach for these first-time buyers.”

Currently, Abodo found, Philadelphia’s average rent is $1,350, ranking it the 19th most expensive city in the nation. Topping the list in January 2017 was San Francisco, where average rent is currently $3,526. New York, at an average price of $2,935 a month for a one-bedroom, followed closely behind.

Nationwide, Abodo predicts, rents will likely continue to rise, driven by revitalization of urban centers. However, Gillen said he expects the Philadelphia market to soften.

“We have so much new product that needs to be absorbed,” he said. "It will either moderate rents or put downward pressure on them."

http://www.philly.com/philly/business/real_estate/Philly-rents-rise-second-fastest-in-nation.html

[1487]

Originally Posted by summersm343

It's just another difficulty an employer has to go through in the process of hiring an employee. Plus filing for City Wage tax, business U&O, etc. etc.

If Philadelphia had a friendly business climate, I would be all for this. However, since Philadelphia has an unfriendly business climate, adding more stepping stones for an employer just seems like a bad move at the current moment. I know it's not much in the grand scheme of things, but doing anything to turn off businesses to the city at the current moment when we're finally gaining momentum is just a bad move.

And I voted for Hillary by the way.

taxes or rules do not necessarily make a city anti-business. Business friendly often means that business owners can navigate the system easily, get answers, understand the rules of the game and get assistance when necessary from the pertinent city departments. So I wouldn't say philadelphia isn't business friendly. In fact, there have been accounts from businesses that moved here that suggests otherwise. Sorry, but this story seems to be overblown if you read the article. Very little was said about this bill when it was debated so it's hard to accept the notion that the GPCC and Comcast feel this is a deal breaker that will kill profits and jobs in the city. There must be some other reason they are making a big deal about this. As noted in the article, the GPCC couldn't even produce a list of businesses or owners who were outraged about the provision.

[Knight Hospitaller]

Originally Posted by summersm343

And I voted for Hillary by the way.

I'm sure that Messrs. Roberts and Cohen did too, those "right wingers." As a resident "right winger" on this forum, I had a good laugh at that allegation.

[summersm343]

Police: Philly crime at lowest level in decades

http://www.philly.com/philly/news/20170112_Police__Philly_crime_at_lowest_level_in_decades.html

[summersm343]

$60 million bible center planned for Independence Mall

The Philadelphia-based American Bible Society will be building a $60 million center devoted to the importance and influence of the bible in American life on Independence Mall.

The Faith & Liberty Discovery Center, which is scheduled to open in the fall of 2018, is expected to draw 250,000 visitors annually, said Roy Peterson, president and CEO of the American Bible Society during a news conference Wednesday morning.

Paid for with private funding, the 40,000-square-foot center will be housed on the first floor of the Wells Fargo Building at 5th and Market Streets.

The center will be designed by Local Projects, which designed the National September 11 Memorial & Museum in New York.

Architectural design will be led by SaylorGregg of Philadelphia.

http://www.philly.com/philly/news/201701...nter_planned_from_Independence_Mall.html

[Knight Hospitaller]

^I recall articles on the ABS relocation to nicely designed office space in that WF building. This public display seems like a natural extension of their activities there.

[jsbrook]

Originally Posted by summersm343

$60 million bible center planned for Independence Mall



http://www.philly.com/philly/news/201701...nter_planned_from_Independence_Mall.html

Can they put a cool bar in there? After all, Jesus turned water into wine, right?...

[jsbrook]

Originally Posted by summersm343

It's just another difficulty an employer has to go through in the process of hiring an employee. Plus filing for City Wage tax, business U&O, etc. etc.

If Philadelphia had a friendly business climate, I would be all for this. However, since Philadelphia has an unfriendly business climate, adding more stepping stones for an employer just seems like a bad move at the current moment. I know it's not much in the grand scheme of things, but doing anything to turn off businesses to the city at the current moment when we're finally gaining momentum is just a bad move.

And I voted for Hillary by the way.

I wouldn't worry about it too much. Kenney will probably veto it and keep Comcast happy because of its stature in city.

[Sgalla04]

Originally Posted by summersm343

Philadelphia rents rose second-fastest in the nation in 2016, new report says



http://www.philly.com/philly/business/real_estate/Philly-rents-rise-second-fastest-in-nation.html

I wish these reports would separate out Manhatten and Brooklyn when stating New York City. I'm pretty sure The Bronx, Queens, and Staten Island lower the mean/median monthly rents considerably. I'm more interested in knowing how Greater Center City compares to Boston, D.C., San Fran, Brooklyn, and Manhattan. If anyone could provide that info it would be great!

[hammersklavier]

The Jewish history museum is nice and all but the 400 block of Market isn't particularly ... active.

I was hoping a restaurant or something could settle on that corner to complement the streetfronts at Rohm & Haas or the Hotel Monaco buildings have been enlivened, but oh well.

[summersm343]

This is not a place for us to discuss our viewpoints on the Bible and the Christian religions.

The article was posted from a development standpoint, as it will bring jobs and more visitors to the area. It is also a private investment of $60 million.

Any further discussion on this will result in appropriate infractions.

[acenturi]

Originally Posted by summersm343

This is not a place for us to discuss our viewpoints on the Bible and the Christian religions.

The article was posted from a development standpoint, as it will bring jobs and more visitors to the area. It is also a private investment of $60 million.

Any further discussion on this will result in appropriate infractions.

Actually, why is a 1 Story Development even in this Forum ???

[summersm343]

Originally Posted by acenturi

Actually, why is a 1 Story Development even in this Forum ???

It's not a 1-story development. It is the lease and build-out of space in an existing high-rise.

[summersm343]

Deleted a few posts since this seems to be getting heated fast.

[kingtut]

Originally Posted by acenturi

Actually, why is a 1 Story Development even in this Forum ???

Were their not discussions on the Reading Viaduct on this same thread and that's not even a building .

[jjv007]

Originally Posted by summersm343

Deleted a few posts since this seems to be getting heated fast.

I know I got caught up in the drama as well but thanks for maintaining order as always Summers.

[Hrytsyu]

Originally Posted by summersm343

$60 million bible center planned for Independence Mall



http://www.philly.com/philly/news/201701...nter_planned_from_Independence_Mall.html

I hope I have not misunderstood the linked article; however, I fail to recognize how a single 40K ft*2 floorplan can generate redevelopment expense of 60M.

[Justin7]

Originally Posted by El Duderino

Not to be political, but I think "pro-business" might be a fairer term (and yes, i'm clearly aware of that overlap).

Must disagree. I am pro-business. I think the state needs to clean up its tax system, which could benefit everyone. However, when your idea of "pro-business" means giving all the power to the corporation and making things more difficult for the worker you're treading exclusively into right-wing territory. As mentioned by others, this legislation tilts things ever so slightly back towards the little guy. I believe history has shown that our economy works better when the middle class has more power.

Originally Posted by summersm343

It's just another difficulty an employer has to go through in the process of hiring an employee. Plus filing for City Wage tax, business U&O, etc. etc.

If Philadelphia had a friendly business climate, I would be all for this. However, since Philadelphia has an unfriendly business climate, adding more stepping stones for an employer just seems like a bad move at the current moment. I know it's not much in the grand scheme of things, but doing anything to turn off businesses to the city at the current moment when we're finally gaining momentum is just a bad move.

And I voted for Hillary by the way.

I think what you're missing here is that businesses want to be where the talent is. This legislation makes Philadelphia more appealing for many. It may not look like it at first glance, but in the end it will help both sides of the coin.