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  #22781  
Old Posted Today, 3:15 AM
McBane McBane is offline
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Location: Philadelphia
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Originally Posted by allovertown View Post
Why though? You hate it. I hate it too. Cheesecake factories suck. Why do you want bad things to continue to exist?

A sugar factory sells nothing but overpriced stupid bullshit. I will never use one and have no desire for there to be one in our city. What's wrong with being happy it's gone and will be replaced by something else? The sports bar doesn't seem like anywhere I'll be spending much time, but it's an easy improvement over Sugar Factory. A 7-11 would also be an improvement btw, another place I'd at least occasionally frequent as opposed to the completely useless sugar factory.
That's a pretty selfish way to look at things. A successful city appeals to everyone. I dislike chain restaurants, too but you know what, a lot of people DO like them and so having those options available is a good thing: their money is green, also. Frankly, as long as a retail space is full, attracts a decent clientele, supports jobs, and generates income for the City, I could care less whether it's somewhere I would patronize or not. Even better if it's a place with few locations and cachet.
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  #22782  
Old Posted Today, 3:37 AM
AnEmperorPenguin AnEmperorPenguin is offline
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Originally Posted by PHLtoNYC View Post
I'm not a data wizard, but it would be interesting to see a comparison of housing data in the largest US cities from 2019-2022. And reassuring if this trend is similar across the board. If not, do policy changes drive the slowdown moreso than the general economic climate? I'm not sure, just thinking out loud...

But to chimpskibot point, there may be a waiting game for some developers to see the absorption rates of all these massive new projects.

OT, I roll my eyes when I see quotes from Helen Gym...
looking through https://housingdata.app/ it doesn't look like it, seemed pretty clear last year that developers were racing to get the full abatement so I don't think this is surprising even without any economic factors.

I don't really think it's about absorption though, philly has had very bad construction on a per capita basis for decades even as population growth has picked up, there are some structural factors that probably increase costs to the point most new projects won't be profitable
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  #22783  
Old Posted Today, 4:38 AM
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Urbanthusiat Urbanthusiat is offline
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Originally Posted by AnEmperorPenguin View Post
looking through https://housingdata.app/ it doesn't look like it, seemed pretty clear last year that developers were racing to get the full abatement so I don't think this is surprising even without any economic factors.
Same thing happened in NYC. This was expected and it's probably more appropriate to look at a 12-month rolling average in this case. Everyone and their mother was getting permits in 2021 to get the full abatement. Now we have some sellers scrambling to sell their properties while they're fully entitled for the full 10-year abatement to unwitting buyers, knowing their permits and extensions will run out soon.

[NYC] Building Permits Soared Before Developer Tax Break Expired, New Numbers Show
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  #22784  
Old Posted Today, 6:29 AM
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Jayfar Jayfar is offline
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Originally Posted by allovertown View Post
A 7-11 would also be an improvement btw, another place I'd at least occasionally frequent as opposed to the completely useless sugar factory.
Fortunately for you, there is a 7-11 just half a block away at 1201 Chestnut. ;-)
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  #22785  
Old Posted Today, 8:51 AM
skyhigh07 skyhigh07 is offline
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Originally Posted by McBane View Post
That's a pretty selfish way to look at things. A successful city appeals to everyone. I dislike chain restaurants, too but you know what, a lot of people DO like them and so having those options available is a good thing: their money is green, also. Frankly, as long as a retail space is full, attracts a decent clientele, supports jobs, and generates income for the City, I could care less whether it's somewhere I would patronize or not. Even better if it's a place with few locations and cachet.
Exactly! Thank you! Couldn’t have said if better myself.

Also, I know a lot of people who choose chain restaurants when they go out to dinner with their kids. That generally seemed to be the crowd coming in and out of Sugar Factory I noticed.

Last edited by skyhigh07; Today at 10:29 AM.
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