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  #121  
Old Posted Jan 27, 2022, 3:37 PM
TempleGuy1000 TempleGuy1000 is offline
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I kind of consider 300 N. Columbus to be the "first" building even though it is on the other side of the street. It's Durst tipping it's toe into the city.
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  #122  
Old Posted Jan 27, 2022, 4:17 PM
chimpskibot chimpskibot is offline
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Quote:
Originally Posted by TempleGuy1000 View Post
I kind of consider 300 N. Columbus to be the "first" building even though it is on the other side of the street. It's Durst tipping it's toe into the city.
Is there any movement on this project? Seems kinda stalled. Im surprised more developers like Durst arent more bullish on Philly Highrise when all the numbers point towards BUILD! Seems like a missed opportunity IMO.
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  #123  
Old Posted Jan 27, 2022, 6:23 PM
TempleGuy1000 TempleGuy1000 is offline
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Originally Posted by chimpskibot View Post
Is there any movement on this project? Seems kinda stalled. Im surprised more developers like Durst arent more bullish on Philly Highrise when all the numbers point towards BUILD! Seems like a missed opportunity IMO.
it's been just a little over a month since the building permits were issued for 300 N Columbus. I would slow the "stalled" talk. They're trying to get their ducks in a row. This is a very big overall investment from them, one thats going to take years and years to come to fruition.
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  #124  
Old Posted Aug 29, 2022, 1:10 PM
Londonee Londonee is offline
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Any updates on the Penn’s Landing capping project? Wasn’t it supposed to start this year, i feel like it had funds earmarked for it half-a-decade ago at this point.
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  #125  
Old Posted Aug 29, 2022, 1:15 PM
TempleGuy1000 TempleGuy1000 is offline
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Originally Posted by Londonee View Post
Any updates on the Penn’s Landing capping project? Wasn’t it supposed to start this year, i feel like it had funds earmarked for it half-a-decade ago at this point.
This winter. The last update was in June when City Council passed two bills approving of the land transfer and zoning changes. COVID did delay it a year and a half which sucks because the park was going to be a centerpiece of the 2026 America250 festivities, but now isn't projected to be finished until the start of 2027.
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  #126  
Old Posted Aug 29, 2022, 1:56 PM
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Quote:
Originally Posted by TempleGuy1000 View Post
This winter. The last update was in June when City Council passed two bills approving of the land transfer and zoning changes. COVID did delay it a year and a half which sucks because the park was going to be a centerpiece of the 2026 America250 festivities, but now isn't projected to be finished until the start of 2027.
Last I heard was that the park itself might be finished for 2026, but that the Durst buildings probably wouldn't be.
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  #127  
Old Posted Aug 29, 2022, 2:08 PM
TempleGuy1000 TempleGuy1000 is offline
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Originally Posted by mcgrath618 View Post
Last I heard was that the park itself might be finished for 2026, but that the Durst buildings probably wouldn't be.
Hopefully! It would be awesome and a nice showcase for the city. I was just going off what I read.


City Council OKs Land Transfer For Long-Promised Park Over I-95 To Penn's Landing


New renderings show Penn's Landing park that will cap I-95

Quote:
The city had been eager to complete the park in time for the city's semiquincentennial celebration in 2026, but it now appears unlikely that it will be finished by July 2026. However, it could be done by later that year, according to OCF Realty.
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  #128  
Old Posted Aug 29, 2022, 8:58 PM
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^^^^^^
Isn't the I-95 cap just a piece of the highway rebuild through CC? The last I remember hearing about, which could have been a year ago, is that they were still having public meetings about what that plan will include, and what it won't. I know that closing the Market St. south bound on ramp was part of the discussion, as well as the size of Delaware Ave.

I wish there had been more talk about somehow better connecting mass transit to the river, and not just the occasional bus. City Gov't has seemed to have a love hate attitude about the Penn's Landing area since it first came to be back in the late 60's/early 70's.

This cap will help---it can't hurt---but I hope as the I-95 rebuild is done that the construction will allow further capping to be done without additional work to the highway.
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  #129  
Old Posted Jan 4, 2023, 8:55 PM
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As Durst pauses construction on 26-story tower, negotiations continue on $2.2B Penn's Landing development

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The Durst Organization remains in negotiations for a proposed $2.2 billion mixed-use development at Penn's Landing despite pausing construction on a neighboring 26-story apartment tower along Columbus Boulevard near the Benjamin Franklin Bridge.

The pause in construction is the result of “unexpected rising construction costs and a challenging financing market,” Anthony Campisi, a Durst spokesman, said in a statement.

Durst, a major New York developer, has big plans for Philadelphia's Delaware River waterfront. The company is negotiating with Delaware River Waterfront Corp., a quasi-public agency, for a development agreement at Penn's Landing where the agency owns land. Durst won a request for proposal process, beating out a bid from the Philadelphia 76ers to build a new 18,500-seat arena along the waterfront. Durst's 3.5-million-square-foot proposal includes 1,834 residential units, a 225-key hotel, 94,000 square feet of retail space and some affordable housing.

Durst has said the 12-acre Penn's Landing project would be built in four phases over nine years.

“We have confidence that The Durst Organization remains committed to the realization of its mixed-use project at 300 N. Columbus Blvd. as well as to Philadelphia and its Waterfront,” Delaware River Waterfront Corp. President Joe Forkin said in a statement. “It is unfortunate that unexpected economic conditions and rising costs of construction mean that construction activity must be put on pause.”

Delaware River Waterfront Corp. is planning to break ground later this year on the new Park at Penn's Landing, an 11.5-acre park that would be created by capping a portion of I-95, Forkin said.
Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=1#cxrecs_s
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  #130  
Old Posted Jan 6, 2023, 3:52 PM
Redddog Redddog is offline
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Quote:
Originally Posted by summersm343 View Post
As Durst pauses construction on 26-story tower, negotiations continue on $2.2B Penn's Landing development



Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=1#cxrecs_s
Good money after bad.

Classic mistake of ego.
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  #131  
Old Posted Feb 2, 2024, 3:08 PM
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Last edited by El Duderino; Feb 2, 2024 at 5:53 PM. Reason: article updated
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  #132  
Old Posted Feb 2, 2024, 5:17 PM
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I moved this post here rather than the Lowrise thread because it pertains to this project.

Wasn't the whole point of the redevelopment team being a PPP to prevent delays and fake-outs like this? Why was Durst chosen again? Won't it be great when we have a lovely new highway cap, yet no development surrounding it (as promised)?
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  #133  
Old Posted Feb 2, 2024, 5:56 PM
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sooooo.... it looks like the Pier 24 listing was posted in error and the site is only for lease. meaning that Durst is NOT selling this, and we can all take a deep breath (let's hope). updates below:

Acres Along the Waterfront NOT for Sale Amidst Development Boom (UPDATED)
Acres Along the Waterfront NOT for Sale Amidst Development Boom (UPDATED)
Naked Philly, 2/2/2024

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  #134  
Old Posted Feb 2, 2024, 7:10 PM
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That's good if true, I wonder if they still plan on building the original buildings. 700+ feet would be epic in this location.

Is this the same Durst that failed to clad the WTC spire? I'm expecting cheap designs and VE'ing if so.

Still bitter about that...
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  #135  
Old Posted Feb 2, 2024, 7:57 PM
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Durst is accumulating vast swaths of Philly waterfront.
Surely there must be a plan to this investment, more than speculation.
If it is just speculation, they must have great expectations for this investment... anyway...
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Last edited by SEFTA; Feb 3, 2024 at 4:17 PM.
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  #136  
Old Posted Feb 2, 2024, 10:47 PM
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summersm343 summersm343 is offline
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Also, Pier 24 is technically not a part of this project. Pier 24 sits between Dave & Busters Pier and Cavanaugh’s River Deck.

This project is for the land between Market & Chestnut Streets, the Delaware River and Columbus Boulevard.

Gotta remain patient. Interest rates are still high. Won’t see many groundbreakings this year more than likely.
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