PHILADELPHIA | THE LAUREL @ 1911 Walnut | 604 FT | 48 FLOORS - Page 55

Zoot · #**1081** Posted **Mar 30, 2016, 11:39 PM**

Quote:

Originally Posted by Philly Fan

No, the $1.6 million estimate was only for environmental remediation (asbestos, lead, pigeon guano, and mold) of all 3 buildings, and was calculated by the engineering firm of Pennoni Associates:

http://hiddencityphila.org/2015/11/d...sansom-street/

The $15 million is the total construction cost estimate for reuse of the Warwick as 18 apartments, and was calculated by Intech Construction, and reviewed (and adjusted downward a bit) by International Consultants, Inc. (see page 2 and attachment for breakdown of estimated costs):

http://www.phila.gov/historical/Docu...-3-10-2016.pdf

Dude. We are saying the same thing. I was acknowledging that the $1.6MM was not the same scope as the $15MM. My point was that regardless of the amounts presented then or now, SLC knew what it was up against back when they were purchasing the properties. They had estimates and negotiated their purchase price based on the value of the properties. Given that they were historic, they must have run analysis on the feasibility that preserved and built their proposed project. They knew what they were getting into and got a discount because of it.

Btw, I am fine with them just saving the facades.

Knight Hospitaller · #**1082** Posted **Apr 22, 2016, 9:01 PM**

Anyone have a sense of when we can expect to hear some news on this?

mmikeyphilly · #**1083** Posted **Apr 23, 2016, 1:17 PM**

Quote:

Originally Posted by Knight Hospitaller

Anyone have a sense of when we can expect to hear some news on this?

Yes, eventually. Sometime soon, I think. Perhaps in a while. Christmas is coming too! (sorry, I couldn't resist.)

Boku · #**1084** Posted **May 9, 2016, 11:51 AM**

BREAKING NEWS

No updates to report.

jjv007 · #**1085** Posted **May 9, 2016, 4:58 PM**

Quote:

Originally Posted by Boku

BREAKING NEWS

No updates to report.

That's not nice.

Knight Hospitaller · #**1086** Posted **May 9, 2016, 5:52 PM**

Was there a time frame within which the CCRA subcommittee (Baker, et al.) was to report back?

Jawnadelphia · #**1087** Posted **Jun 23, 2016, 1:52 AM**

It's been a long time.... anyone know/heard anything? Where's Dustin Downey???

kingtut · #**1088** Posted **Jun 23, 2016, 2:14 AM**

Quote:

Originally Posted by TallCoolOne

It's been a long time.... anyone know/heard anything? Where's Dustin Downey???

Not trying to add any gloom but recent construction surveys have indicated a 10% decrease in construction permits in many cities across the U.S.A. . Job growth has been very disappointing in the last few months and Investors are not willing to back any projects that are not sure bets .This also is happening in the Bio Sciences .

Urbanthusiat · #**1089** Posted **Jun 23, 2016, 2:18 AM**

Quote:

Originally Posted by TallCoolOne

It's been a long time.... anyone know/heard anything? Where's Dustin Downey???

Jokes aside I really hope this project gets off the ground, sooner rather than later. As their first project of this scale, I want to believe that SLC is taking their good old time to make sure everything goes smoothly, and that there aren't complications.

jsbrook · #**1090** Posted **Jun 23, 2016, 5:31 AM**

Quote:

Originally Posted by Urbanthusiat

Jokes aside I really hope this project gets off the ground, sooner rather than later. As their first project of this scale, I want to believe that SLC is taking their good old time to make sure everything goes smoothly, and that there aren't complications.

We know that there are complications. At the very least, feuds about preservation issues and the ensuing impact on actual dimensions and nature of the building. That's not a small thing. Still, I am hopeful for the best. This could be a great project.

McBane · #**1091** Posted **Jun 23, 2016, 1:48 PM**

Quote:

Originally Posted by kingtut

Not trying to add any gloom but recent construction surveys have indicated a 10% decrease in construction permits in many cities across the U.S.A. . Job growth has been very disappointing in the last few months and Investors are not willing to back any projects that are not sure bets .This also is happening in the Bio Sciences .

A high-end, new construction tower on Rittenhouse Square is as sure of a bet as you can make as far as residential construction in Philadelphia goes.

boxbot · #**1092** Posted **Jun 23, 2016, 2:24 PM**

Quote:

Originally Posted by kingtut

Not trying to add any gloom but recent construction surveys have indicated a 10% decrease in construction permits in many cities across the U.S.A. . Job growth has been very disappointing in the last few months and Investors are not willing to back any projects that are not sure bets .This also is happening in the Bio Sciences .

Not sure I agree with your analysis. To avoid getting too far off topic, I won't get into a numbers battle with you. What is more important, I think, is to remember that when companies come in and want to demolish historically preserved structures, we should make damn sure they have a rock solid plan and financing in place first before clapping with joy as they swing the wrecking ball based on promises. See also "hole, Disney."

Londonee · #**1093** Posted **Jun 23, 2016, 3:48 PM**

Quote:

Originally Posted by Urbanthusiat

Jokes aside I really hope this project gets off the ground, sooner rather than later. As their first project of this scale, I want to believe that SLC is taking their good old time to make sure everything goes smoothly, and that there aren't complications.

A lot of us were a bit skeptical when these guys were announced as the buyers of this lot based on their fairly low-key track record. I really liked that they dreamed big on the building and the design but I'm wondering if the realities of a project of this scale and the intensity of the marketplace is proving a bit much for them?

It's like a kid who begs for a dog, finally gets it, then is overwhelmed by the commitment, dedication, discipline and energy it takes to actually care for the thing. Sometimes you bite off more than you can chew (pun intended).

Knight Hospitaller · #**1094** Posted **Jun 23, 2016, 6:56 PM**

Quote:

Originally Posted by Londonee

A lot of us were a bit skeptical when these guys were announced as the buyers of this lot based on their fairly low-key track record. I really liked that they dreamed big on the building and the design but I'm wondering if the realities of a project of this scale and the intensity of the marketplace is proving a bit much for them?

It's like a kid who begs for a dog, finally gets it, then is overwhelmed by the commitment, dedication, discipline and energy it takes to actually care for the thing. Sometimes you bite off more than you can chew (pun intended).

Last we heard, there was a stakeholders group (subcommittee of the CCRA) working with SLC on this, not unlike the behind the scenes discussions with Pearl over 19th & Chestnut. It seems like this has been going on a long time. I wish we had a sense of when we'll hear something more from them.

thisisforreal · #**1095** Posted **Aug 5, 2016, 4:24 PM**

Scrolled through everything from page 18-55 and didn't see this one posted yet:

Really, this was just an excuse to remind us that nothing has happened in the past few months on this one...

Have a nice weekend everyone.

Knight Hospitaller · #**1096** Posted **Aug 5, 2016, 4:50 PM**

^ gee, thanks. I just posted about this on the 19th & Chestnut thread precisely not to do to anyone else what you just did to me.

1487 · #**1097** Posted **Aug 5, 2016, 4:52 PM**

i was just thinking about this non-project the other day. Total silence. Will this start before or after SLS???

summersm343 · #**1098** Posted **Aug 5, 2016, 4:57 PM**

Looks like we got ourselves a redesign and preserved Warwick

Building still looks to be 600 FT or higher. I love the inclusion of 1910 Chestnut in the rendering as well.

http://1911walnut.com/

allovertown · #**1099** Posted **Aug 5, 2016, 5:01 PM**

Wow! So strange that after nothing being posted here for months, there is finally some activity on this thread and when I check out the thread it's just people lamenting nothing is happening here. Then boom, half an hour later we get this.

Looks incredible. Preserved Warwick too? Build it now!

Any word on the path forward on this now? Have they effectively addressed neighbor concerns or are there still more battles to be fought before shovels hit the ground?

summersm343 · #**1100** Posted **Aug 5, 2016, 5:03 PM**

From Southern Land Co.'s website

Quote:

This community will feature several onsite amenities, underground parking and approximately 342 luxury apartments and 64 condominiums. In addition the community will feature approximately 55,000 square feet of commercial space fronting Walnut, Sansom and 20th streets to provide exclusive retail, shopping and dining options to the area.

http://southernland.com/portfolio/19...t/#prettyPhoto