PHILADELPHIA | Highrise Development Thread X - Page 36

PurpleWhiteOut · #**701** Posted **Oct 28, 2019, 8:13 AM**

Is this good or bad news for us? Though Liberty built the two comcast towers they were already planning to get out of office space. I think we could use more warehouse/logistics space but I'm not thrilled about the headquarters being across the country in case they dont think about expanding in the city proper.

iheartphilly · #**702** Posted **Oct 28, 2019, 12:10 PM**

^
Indifferent. I don’t think any of those huge warehouses will be around here. I think they said Central Pa, Lehigh Valley. They aren’t building skyscrapers so no loss there and Liberty got out of the high rise building model so that this acquisition could happen.

iamrobk · #**703** Posted **Oct 28, 2019, 2:20 PM**

It's probably an overall net negative for the region just because presumably there will be job cuts LPT's HQ, but I'm not sure it will have much of an impact on construction, particularly given their pivot away from skyscrapers/etc. But I'm curious for the thoughts of anyone who knows a bit more about this sector.

cardeza · #**704** Posted **Oct 29, 2019, 4:00 PM**

Not sure if anyone posted this CCD report on low wage job growth. I do think that specifically counting private sector jobs only skews the numbers downward, but I'm not surprised by their decision to frame the story in this way. Its hard to get an accurate picture of the job situation if you exclude universities, education based jobs and government jobs- especially in this city. Based on the charts the number of jobs is the highest it's been since around 1990/91.

http://www.centercityphila.org/uploa...web-update.pdf

UrbanRevival · #**705** Posted **Oct 29, 2019, 4:58 PM**

Quote:

Originally Posted by cardeza

Not sure if anyone posted this CCD report on low wage job growth. I do think that specifically counting private sector jobs only skews the numbers downward, but I'm not surprised by their decision to frame the story in this way. Its hard to get an accurate picture of the job situation if you exclude universities, education based jobs and government jobs- especially in this city. Based on the charts the number of jobs is the highest it's been since around 1990/91.

http://www.centercityphila.org/uploa...web-update.pdf

Good points. Also worth noting that all of the comparison cities (excluding DC, Baltimore and NYC) includes many counties with incorporated suburbs, or at least suburban territory (i.e., Cook County, IL for Chicago or Davidson County, TN for Nashville), whereas Philadelphia County is all urban core. In a metro area where the vast majority of high-paying companies/opportunities are still in the collar counties, that's obviously going to skew the numbers in the city proper.

Additionally, of the 13,200 nonfarm jobs added in Philadelphia over the past year (as of September 2019), 4,200 of them were in the Professional and Technical Services category, or approximately 32% https://www.workstats.dli.pa.gov/Doc...ilamesa_pr.pdf. According to this Inky article (https://www.inquirer.com/news/philad...-20180709.html), that category pays an average wage of $142,844 in Philly--not too shabby: https://www.inquirer.com/news/philad...-20180709.html

So, while the CCD comparison is not completely worthless, it's definitely not apples-to-apples, and, because it's based on a timeline that includes a point of recession for the city (2009-2013 ish), it definitely doesn't capture the much more recent higher-paying job growth in Philly (which didn't hit its stride until at least 2014/2015).

As you suggest, it's all in how you frame the data.

cardeza · #**706** Posted **Oct 29, 2019, 7:12 PM**

Quote:

Originally Posted by UrbanRevival

Good points. Also worth noting that all of the comparison cities (excluding DC, Baltimore and NYC) includes many counties with incorporated suburbs, or at least suburban territory (i.e., Cook County, IL for Chicago or Davidson County, TN for Nashville), whereas Philadelphia County is all urban core. In a metro area where the vast majority of high-paying companies/opportunities are still in the collar counties, that's obviously going to skew the numbers in the city proper.

Additionally, of the 13,200 nonfarm jobs added in Philadelphia over the past year (as of September 2019), 4,200 of them were in the Professional and Technical Services category, or approximately 32% https://www.workstats.dli.pa.gov/Doc...ilamesa_pr.pdf. According to this Inky article (https://www.inquirer.com/news/philad...-20180709.html), that category pays an average wage of $142,844 in Philly--not too shabby: https://www.inquirer.com/news/philad...-20180709.html

So, while the CCD comparison is not completely worthless, it's definitely not apples-to-apples, and, because it's based on a timeline that includes a point of recession for the city (2009-2013 ish), it definitely doesn't capture the much more recent higher-paying job growth in Philly (which didn't hit its stride until at least 2014/2015).

As you suggest, it's all in how you frame the data.

There are a lot of public sector jobs that pay decently so if you exclude them from any job numbers it definitely lowers the averages. Almost no one working full time in the public sector makes less than 35k- while many in the private sector do when you account for retail, low end healthcare jobs and food/drink services.

PHL10 · #**707** Posted **Oct 30, 2019, 6:14 PM**

I thought this was a cool but outdated aerial showing how University City is clearly an extension of the Market Street centered office district.

(https://i.pinimg.com/originals/5f/da...7d973e33a4.jpg)

clubtokyo · #**708** Posted **Oct 31, 2019, 1:59 AM**

Philly looks gorgeous! I would love to visit one day!!

TK2001 · #**709** Posted **Oct 31, 2019, 4:11 AM**

Philadelphia 2025

summersm343 · #**710** Posted **Oct 31, 2019, 2:58 PM**

A new hotel and major street improvements are about to transform ‘downtown’ North Philly

Quote:

The Gothic-style Beury tower, which started out in 1926 as the National Bank of North Philadelphia, is about to be converted into a hotel, Shift Capital’s Brian Murray told me. Assuming that the company can finalize a community benefits agreement with neighborhood civic groups, he said, renovations could begin in the spring. Civic leaders say the hotel will be a Marriott.

A Marriott on North Broad Street? The development would have been unimaginable only a few years ago. When Shift bought the 14-story bank building in 2012, it envisioned an affordable housing development, maybe with a health clinic. Now it’s talking about a sit-down restaurant on the hotel’s ground floor and an apartment building next door on a largely vacant site, perhaps with some office space on the lower floors.

Read more here:
https://www.inquirer.com/real-estate...-20191031.html

iheartphilly · #**711** Posted **Oct 31, 2019, 3:04 PM**

^
Amazing! I see a little bit of the arch-like base of the bldg as inspiration from the new Temple library.

mcgrath618 · #**712** Posted **Oct 31, 2019, 4:05 PM**

I’m always going to be fond of that graffiti...

Nightman · #**713** Posted **Oct 31, 2019, 4:39 PM**

Wow it's really happening. I guess the timing is right.

https://www.delawareriverwaterfront....-for-proposals

mcgrath618 · #**714** Posted **Oct 31, 2019, 4:59 PM**

Quote:

Originally Posted by Nightman

Wow it's really happening. I guess the timing is right.

https://www.delawareriverwaterfront....-for-proposals

Anyone know what the height limit would be on those parcels? I assume something to the tune of 400'.

A 350'er and some madrases would fit in nicely here.

cardeza · #**715** Posted **Oct 31, 2019, 6:09 PM**

Quote:

Originally Posted by mcgrath618

Anyone know what the height limit would be on those parcels? I assume something to the tune of 400'.

A 350'er and some madrases would fit in nicely here.

if this is within the special delaware river district the heights will be lower.

mcgrath618 · #**716** Posted **Oct 31, 2019, 6:51 PM**

Quote:

Originally Posted by cardeza

if this is within the special delaware river district the heights will be lower.

I thought that there was an ordinance passed to raise the limits, no? Or was that for further down the waterfront?

summersm343 · #**717** Posted **Oct 31, 2019, 7:06 PM**

Quote:

Originally Posted by mcgrath618

I thought that there was an ordinance passed to raise the limits, no? Or was that for further down the waterfront?

Pretty sure the height limit along the Delaware River is 250 feet. Either way, don't expect anything too tall here.

summersm343 · #**718** Posted **Oct 31, 2019, 7:07 PM**

Here's the website for the development RFP.

Love that this is moving forward.

http://www.pennslandingdevelopment.com/

summersm343 · #**719** Posted **Oct 31, 2019, 7:08 PM**

These are the two development sites:

http://www.pennslandingdevelopment.com/overview.html

Radio5 · #**720** Posted **Nov 1, 2019, 8:58 PM**

I know it's probably a money thing, but seems silly to leave that gap bwtn Walnut and Dock in this phase. Does anyone know if they at least intend to cap the rest of this, like from Market to South st?