PHILADELPHIA | Lowrise/General Developments Thread II - Page 210

EastSideHBG · #**4181** Posted **Apr 22, 2024, 7:59 PM**

Quote:

Originally Posted by BroadandMarket

I mean just look at the success of Schuylkill banks and the trail. You don't need businesses for it to be successful. The path right now is arguably too popular and insanely crowded from the Art Museum to South Street bridge from April-October. There's enough overflow from that success alone to demand a parallel path with stairs up to JFK, Market, Walnut, Chestnut and South bridges. Adding a few cafes and a bar/restaurant would be a no brainer but I don't think it's essential. Cover up 76 with a soundproof wall, add some docks for booze cruises and kayaks while you're at it. It's a minute walk from 30th street station, 5 mins from Penn/Drexel and 10 minutes from UCity's financial core.

This plan was more realistic and better IMO:

I am with you on all counts and this is more of what I would envision if I were in charge.

japmes · #**4182** Posted **Apr 22, 2024, 8:07 PM**

That's a beautiful bus terminal over on the right. Let's build that first.

japmes · #**4183** Posted **Apr 22, 2024, 9:25 PM**

ELECTION ALERT: Please vote NO on the ballot question tomorrow. It is development related and would give RCOs much more power to block development.

PhilliesPhan · #**4184** Posted **Yesterday, 12:47 PM**

Quote:

Originally Posted by japmes

ELECTION ALERT: Please vote NO on the ballot question tomorrow. It is development related and would give RCOs much more power to block development.

I saw that this morning. I didn't know about the ballot question, but I immediately slammed that "NO" button when I read it! The last thing this city needs is giving RCOs even more power, especially with additional taxpayer dollars.

PHLtoNYC · #**4185** Posted **Yesterday, 1:35 PM**

Interesting updates about the luxury real estate market in the city.

This Philly penthouse can be yours for $26 million, or $25,000 a month
https://www.inquirer.com/real-estate...-20240423.html

Agents whose job it is to sell the city’s multimillion-dollar penthouses said that after a lackluster 2023, Philadelphia’s high-end luxury market in the first few months of 2024 has been strong.

“The activity level this year is considerably greater,” said Andrea Desy Edrei, operating partner at the local brokerage for New York-based SERHANT. “It gives us some optimism.”

The luxury market “has been gradually coming back up,” said Douglas Pearson, a real estate agent and principal at Kurfiss Sotheby’s International Realty who specializes in high-end homes.

He thinks “there’s a new feeling of positivity” toward the city because of the new mayoral administration. That’s in addition to the enduring draws of the city’s restaurants, arts and entertainment, history, and diversity of neighborhoods. Philadelphia’s universities and health-care institutions attract lots of luxury buyers.

A penthouse of raw space spanning the 46th floor of the Residences at the Ritz-Carlton that was originally listed for $15 million was divided into three homes, so they could be offered at lower prices. Two of them “immediately” sold late last year for more than $4 million each, Bolaris said.

“You’d be surprised how many people are looking at them,” Pearson said last Tuesday. “We have seen a significant increase in demand over the last 60 days.”

They come from a variety of places, including in and around the city and the usual places such as New York. But Desy Edrei said she’s also seeing inquiries from places that traditionally weren’t feeder markets for Philadelphia, such as Texas and the Midwest.