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  #11821  
Old Posted Mar 10, 2019, 2:15 PM
Justin7 Justin7 is offline
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Originally Posted by wanderer34 View Post
And this is yet another reason why cities like Phoenix and San Antonio continues to surpass us to this day!
It's really not.
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  #11822  
Old Posted Mar 10, 2019, 8:57 PM
City Wide City Wide is offline
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Originally Posted by cardeza View Post
feature on the Atlantic

https://www.phillymag.com/property/2...ments-profile/

Its only been about 5 or 6 years in the making.
The Post boys first bought this place when they were working on the Goldtex building, so that dates it back more then 10 years, as if that matters. This has gone through many different stages; for awhile it was going to be a mixed use building. At one point years ago it was announced that a old very beautiful, marble paneled back stairs had been uncovered and hopefully was going to be included in the plans. In any case, its a beautiful building.
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  #11823  
Old Posted Mar 10, 2019, 10:20 PM
eixample eixample is offline
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It appears that a Domio "apartment hotel" building may be opening at the relatively unlikely place of 13th and Reed in South Philly. The building was just completed, 3 floors, 20+ apartments, as-yet unleased retail space on the ground floor, a theater in the basement (Theater Exile which had been inhabiting the building that had previously stood on this site) and, miraculously, no parking. Inga Saffron wrote an article about the building this week - it came out really nice and looks like a good reuse of a brick industrial building rather than a new build. Anyway she mentioned in the article that this Domio company was considering setting up shop there. Today I walked by and there was a sign about how Domio was having an open house and wanted to meet its new neighbors... I imagine there will be an official announcement soon.
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  #11824  
Old Posted Mar 11, 2019, 12:10 PM
Boku Boku is offline
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Another Kensington/Port Richmond junkyard poised to sell

https://www.bizjournals.com/philadel...yard-sell.html

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For the second time in a year, a junkyard on the open land between Kensington and Port Richmond neighborhoods is set to sell its property to developers, who plan to build four apartment buildings with some commercial space. The stretch of industrial properties has become a hot property.

Bruce Paul Auto Parts is set to sell to an unknown developer, with the price not yet disclosed. Developers' plans for the 80,000-square-foot property will require zoning variances and community feedback, according to Billy Penn, which reported the sale. The land is located near the corner of Aramingo Avenue and E. 8th Avenue.

“Anybody that’s working with their hands can’t afford to stay around here anymore,” owner Bruce Paul told Billy Penn. “I’m not gonna put up with my taxes doubling every other year. They’re forcing everybody out. Welcome to Philadelphia.”

A neighboring junkyard, Paramount Auto & Truck Sales, went for $5 million last year. The larger, four-acre lot is set to become "Kensington Courts," a 155-unit housing development. Riverwards, the developer of Kensington Courts, has been involved in several projects in the area, which is known as a center of Philadelphia's opioid epidemic, but now also known for its quickly escalating property values. Last September, a nearby junkyard was the site of a large fire, sparking a city-ordered shutdown.

Local real estate lawyer Rachel Pritzker is representing the would-be developer of the property. She declined to comment, according to Billy Penn. However, the news site cited a project application outlining plans for four detached buildings, up to six stories tall, totaling 220 apartments with 132 off-street parking spaces.
Link to the Billy Penn article: https://billypenn.com/2019/03/08/fir...to-developers/
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  #11825  
Old Posted Mar 11, 2019, 1:58 PM
3rd&Brown 3rd&Brown is offline
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Originally Posted by Boku View Post
Another Kensington/Port Richmond junkyard poised to sell

https://www.bizjournals.com/philadel...yard-sell.html



Link to the Billy Penn article: https://billypenn.com/2019/03/08/fir...to-developers/
Ha Ha.

As if Bruce Paul won't be happy with $5MM.

I mean, I get his point. But he's getting paid probably more than he ever imagined he would get paid for that piece of land.

Now I just wonder how these people are going to help clean up the mess just north of them.
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  #11826  
Old Posted Mar 12, 2019, 2:10 PM
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A dorm? Is this by right?

https://www.philly.com/real-estate/c...-20190311.html

Quote:
The Philadelphia project will consist of 186 units across 74 shared two- and four-bedroom flats, of 550- and 1,064-square-feet, respectively, it said. Residents — or “members,” in the company’s parlance — share kitchens and bathroom. Other communal spaces include a roof deck, lounge, espresso bar, and shared offices, it said.
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  #11827  
Old Posted Mar 12, 2019, 4:43 PM
Boku Boku is offline
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N.Y.-based boutique hotelier sets sights on Philly’s Old City

https://www.philly.com/real-estate/c...-20190313.html

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A Brooklyn-based developer that specializes in renovating historic buildings into hip hotels is planning a 150-guest-room project in a former paintbrush factory in Philadelphia’s Old City neighborhood.

Ash NYC Inc., whose past hotel projects include the Dean in what had been a historic Providence, R.I., boarding house and the Siren hotel in Wurlitzer Co.'s long-vacant former Detroit headquarters, is negotiating a long-term lease for the Elder & Jenks Inc. brush company building and an adjacent parking lot on Vine Street, between Lawrence and Fourth Streets.

The plans, which call for a full interior rehabilitation of the five-story building with a newly constructed annex on the parking lot property, were detailed in an application for a state Redevelopment Assistance Capital Program grant provided to the Inquirer.

Ash is seeking $5 million in state funding for the $41 million project, which is also slated to include two restaurants, a spa, a gym, an events space and a rooftop bar, it said in its RACP grant application. The state program is designed to support redevelopment projects that officials deem capable of having a big economic impact.

“This project will repair a blighted block with a vacant warehouse and surface parking lot and serve as a catalyst for area developments,” Ash wrote in its application. “The street life on this block will transform from blank brick walls and empty parking lots to active food and beverage outlets run by local restaurant entrepreneurs with pedestrian-friendly programming.”

Ash spokesperson Nicole Savitsky acknowledged in an email that the grant was being sought but said that there is “nothing to report moving forward at this point.”

The group also is working to convert the historic nine-story Latrobe Building in Baltimore’s Mount Vernon neighborhood into a hotel, according to its website.

Ash cofounder and finance chief Jonathan Minkoff told Conde Nast Traveler magazine in 2015 that the firm aims to offer smaller cities with cultural draws the sort of independent hotel experience available in large metropoles such as Los Angeles and New York from boutique chains like the Ace and the Standard.

“We want to be one step ahead by going to the places with intrinsic cultural drivers in the market," Minkoff said.
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  #11828  
Old Posted Mar 12, 2019, 5:22 PM
Redddog Redddog is offline
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Originally Posted by Boku View Post
N.Y.-based boutique hotelier sets sights on Philly’s Old City

https://www.philly.com/real-estate/c...-20190313.html
The complete buildout in Old City continues.

I'm surprised the DiNardis Hotel project on Arch and 2nd hasn't been announced. That'll be the first liquor license between Race and Market in Old city in decades. Talk about transformative.
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  #11829  
Old Posted Mar 12, 2019, 6:52 PM
jsbrook jsbrook is offline
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Originally Posted by Redddog View Post
The complete buildout in Old City continues.

I'm surprised the DiNardis Hotel project on Arch and 2nd hasn't been announced. That'll be the first liquor license between Race and Market in Old city in decades. Talk about transformative.
What lot is that supposed to be on? Is it taking out Grossman's furniture store? If that and hotel at Second and Race get off the ground, that would definitely be transformative for the area. The Race one is facing pushback.
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  #11830  
Old Posted Mar 12, 2019, 11:35 PM
City Wide City Wide is offline
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[QUOTE=Boku;8502974][B]N.Y.-based boutique hotelier sets sights on Philly’s Old City


I'm surprised this building hasn't already been converted into apartments.
Corporate welfare. But as long as the State is handing it out, why not take it if you can. Maybe some of the grant money that was going to the SLS hotel could be redirected.
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  #11831  
Old Posted Mar 13, 2019, 2:23 AM
jsbrook jsbrook is offline
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Edit: never mind. I see the building from the link. Not Grossman's.
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  #11832  
Old Posted Mar 13, 2019, 3:11 AM
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CDR was "eh" about 1700 Germantown Ave.
https://www.phila.gov/CityPlanning/p...19_reduced.pdf
__________________
Philadelphia Transportation Thread: http://forum.skyscraperpage.com/showthread.php?t=164129
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  #11833  
Old Posted Mar 13, 2019, 1:34 PM
Redddog Redddog is offline
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Originally Posted by jsbrook View Post
Edit: never mind. I see the building from the link. Not Grossman's.
Yeah. Due east of Grossman's on arch. It used to be a restaurant supply store and they are renovating it into hotel with a restaurant. I heard about it from a neighbor who was trying to rally the neighborhood to oppose it. She was like "we don't need all those drunk college kids stumbling around the neighborhood breaking windows. We have to stop this." I just walked away. I don't understand the knee jerk reaction to an establishment that sells liquor. If it was a hogs'n'heffers I might understand. But what mass of college kids is going to day drink and run through old city vandalizing storefronts after a day of partying at a boutique hotel restaurant?

Anyway, I cant wait for this. It should change Old City fairly significantly.
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  #11834  
Old Posted Mar 13, 2019, 3:53 PM
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Aaamazarite Aaamazarite is offline
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New stuff:

1100 Ridge: 6 or 7 stories, 18 units

5420 ridge: 34 units

302 Poplar: 4 stories, 10 units

1908 N 4th: 4 stories 6 units

4234 Market: 5 stories 9 units
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  #11835  
Old Posted Mar 13, 2019, 5:17 PM
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Originally Posted by jsbrook View Post
What lot is that supposed to be on? Is it taking out Grossman's furniture store? If that and hotel at Second and Race get off the ground, that would definitely be transformative for the area. The Race one is facing pushback.
I think the one on Race might be dead unfortunately. There hasn't been any follow-up since the very first reach out to the Historical Commission as far as I'm aware and there was reference to this no longer happening on a OCF Realty blog post a while back, though it didn't provide details:

"But it seems we were mistaken. Swift is still operating on 2nd Street, and their listing is cancelled" from the first paragraph here
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  #11836  
Old Posted Mar 13, 2019, 5:30 PM
Boku Boku is offline
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Wodify leaving South Jersey for new Center City HQ

https://www.bizjournals.com/philadel...r-city-hq.html

Quote:
After seven years in South Jersey, fast-growing tech company Wodify is making the move.

Wodify, which builds fitness and gym management software and recently hit the $10 million recurring revenue mark, is leaving its former space on Haddonfield Road in Cherry Hill after signing an 11-year lease in Center City’s slowly reviving East Market neighborhood.

The 10,000 square-foot space at 1100 Ludlow St., above Mom's Organic Market, will house about 30 of Wodify’s 75 employees, with the other 45 based in Lisbon, Portugal.

It needed the additional space to grow its staff, said Chief Marketing Officer Brendan Rice, but also to pursue a primary goal behind the move into Philadelphia — becoming a bigger part of its tech community.

“We kind of just stayed scrappy and built ourselves from the ground up in New Jersey,” Rice said. The company’s bootstrapped approach made it more economical to keep their heads down and focus on building the business, not a sharp new city office, he said. It's now reached the point in revenue and staff growth where the move makes sense.

“Over the past year or two, we’ve grown a lot, and as the Philly tech scene continued to grow and expand, we wanted to become a part of that network and put ourselves right in the heart of it,” he said.

Based on his own experience at his local CrossFit gym in South Jersey, CEO Ameet Shah founded Wodify to help gyms like his manage membership and digitize performance tracking, which mostly lived on whiteboards when the fitness trend first took hold.

Wodify launched in 2012, the same year CrossFit franchises began sprouting up at an “unprecedented rate,” according to CrossFit news outlet the Morning Chalk Up. Between 2012 and 2015, about 8,500 net CrossFit gyms opened up.

The startup grew at a similar pace, repeatedly landing on the Inc. 5000 and the Philadelphia Business Journal’s ranking of the region’s fastest-growing companies. It hit growing pains as it did so, Rice said, spurring the company to shut down for an entire week, gather its entire staff together and go through an intensive program to reinvent its culture.

“This is a company that takes its culture super seriously. They’ve invested a lot of time and money and thought into it, ” said Mike Krupit, founder of startup coaching service Trajectify. He was brought on about a month and a half ago to help Shah map out the next few years of operations, and described Shah as having a “Silicon Valley-style intensity,” as well as a Silicon Valley-style laid-backness.

“There’s nothing inauthentic about Ameer. Everyone who meets him knows he calls it as he sees it,” Krupit said. “He thinks quick, he acts quick, he holds himself to high standards, holds people to high standards and like to be surrounded by the best.”

Wodify purposefully sought a larger space than it needed in order to build a large training room and event space when moving to the city as part of its efforts to become part of the tech community, Rice said. Wodify’s move date is set for March 18, and will host its grand opening party four days later. Shah’s friend, San Francisco 49ers President and area native Al Guido, will be interviewed in a fireside chat by 6ABC Action News anchor Rick Williams about the intersection of sports and technology.
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  #11837  
Old Posted Mar 13, 2019, 5:55 PM
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^^Good day for tech in Philly!

SRI Capital's $100M fund draws Singapore tech company to Philadelphia

https://www.bizjournals.com/philadel..._news_headline
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  #11838  
Old Posted Mar 13, 2019, 6:04 PM
Nova08 Nova08 is offline
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I'd like to see some bigger moves, but I'll take this type of continual small move momentum

SRI Capital's $100M fund draws Singapore tech company to Philadelphia
https://www.bizjournals.com/philadel...ladelphia.html

Quote:
A Singapore-based tech company is setting up its North American headquarters in Philadelphia, the first international startup to do so as part of an ambitious $100 million venture fund.

Foyr, which offers cloud-based 3D visualization software for the real estate and design industries, announced this week it’s hired veteran tech executive Richard Tarity to lead the company’s North American expansion. Tarity will be based out of the University City Science Center’s new 3675 Market St. headquarters.

The decision to come to Philadelphia is tied to the $100 million fund Center City-based SRI Capital’s launched last year to link the region to international startups, specifically those with ties to India. (Foyr, which employs 80 people worldwide, has a second office in the country.)

By the time SRI announced the fund in July 2018, it had already raised $40 million and led Foyr’s $4.2 million Series A. Jones Lang LaSalle (NYSE: JLL) joined SRI in the round, which Foyr kept quiet until it recently named Tarity president of its North American operations.

Doc Parghi told the Business Journal that the venture investment firm came across Foyr through its network in Singapore, and was drawn toward the product’s elegance. Its Storyteller tool is designed to help real estate companies, from brokers to developers, create virtual walkthroughs on property that’s yet to be built. Another helps professionals like interior designers and architects design and virtually tour spaces based on CAD software specifications. It's capable of pulling in images and measurements of assets from sites like Wayfair and Overstock, and has aspects of artificial intelligence technology that lets users import and build off of designs not created on its platform.

“It’s a very, very unique tool that we build from the ground up,” Tarity said.

The only other company that offers a product with the same range of capabilities, Floored, was acquired by CBRE Group in January 2017 and brought in-house.

SRI Capital’s market research confirmed there was market demand for Foyr’s product, and to help fast-track the often difficult process of expanding in a new country, SRI set it up with meetings in Philadelphia, held across two separate trips. Tarity — who led startups LiquidSpoke and NascentHub before their exits in 2011 and 2017 respectively — was one of those meetings.

It’s not easy coming into a new geography, but by starting at that leadership level with [Tarity] as well as the introductions we provide … that’s the value we brought on,” Parghi said.

The region’s affordability, central location in the Northeast and abundance of talent from local academic institutions are big perks companies often cite when locating to the city, Tarity said, but Tarity also wants to tap into its strong artistic community as it begins hiring for design-focused roles.

Philadelphia is very rich in culture when it comes to schools and types of communities they have here. It’s got a big design nucleus,” he said. He plans to spend the next few months building the foundation for Foyr’s North American operations, with hiring set to begin in the summer. Ideally, he’d like to reach more than a dozen full-timers at first, and then double or triple that staff year over year, based on growth.

Even though Foyr is the first of the portfolio companies in SRI’s new fund to come to Philadelphia, Tarity said, he doesn’t think it will be the last.
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  #11839  
Old Posted Mar 13, 2019, 6:08 PM
Redddog Redddog is offline
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Originally Posted by El Duderino View Post
I think the one on Race might be dead unfortunately. There hasn't been any follow-up since the very first reach out to the Historical Commission as far as I'm aware and there was reference to this no longer happening on a OCF Realty blog post a while back, though it didn't provide details:

"But it seems we were mistaken. Swift is still operating on 2nd Street, and their listing is cancelled" from the first paragraph here
The variance was gonna be a problem. It's easy to envision that corner developing at some point, because it's such a no-brainer when you look at it. It's likely to take the 10 years or so the Bridge site took.

Which is a bummer. Those hotel/coop plans were killer.
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  #11840  
Old Posted Mar 13, 2019, 6:08 PM
jsbrook jsbrook is offline
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Originally Posted by Redddog View Post
Yeah. Due east of Grossman's on arch. It used to be a restaurant supply store and they are renovating it into hotel with a restaurant. I heard about it from a neighbor who was trying to rally the neighborhood to oppose it. She was like "we don't need all those drunk college kids stumbling around the neighborhood breaking windows. We have to stop this." I just walked away. I don't understand the knee jerk reaction to an establishment that sells liquor. If it was a hogs'n'heffers I might understand. But what mass of college kids is going to day drink and run through old city vandalizing storefronts after a day of partying at a boutique hotel restaurant?

Anyway, I cant wait for this. It should change Old City fairly significantly.
Definitely. Good stuff.
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