PHILADELPHIA | Lowrise/General Developments Thread

[mcgrath618]

I actually think that the best case scenario here is that the Fashion District goes bust and that the giant, massive, hulking, putrid structure is razed and burned.

[bigfish]

FWIW I do think that a mall in the middle of a city is not ideal. However in November I was there with a group of friends, (we were 22/23) and we spent nearly half a day there. From bowling to the movie theater and we did a little shopping. There is really a lot to do, at least pre covid. I hope that energy comes back!

[PurpleWhiteOut]

As an avid rhythm gamer, I will cry if our Round 1 goes away lol. For what it's worth, I went there to play yesterday and I was surprised how many people were there still despite COVID. C21 will be a big blow in terms of space to fill, though

[allovertown]

Originally Posted by mcgrath618

I actually think that the best case scenario here is that the Fashion District goes bust and that the giant, massive, hulking, putrid structure is razed and burned.

If we were building the city from scratch, there's no reason for the gallery to exist. Even after the improvements, it's kind of a mess. So in a sense, I agree.

But we're not starting from scratch and this has some assets, most notably a pretty nice movie theater, that center city had been lacking. It's far from perfect, but it's fine now and can hopefully continue to improve as it fills out after all this craziness dies down. I hope it survives.

[cardeza]

Originally Posted by mcgrath618

I actually think that the best case scenario here is that the Fashion District goes bust and that the giant, massive, hulking, putrid structure is razed and burned.

really?

[Londonee]

Originally Posted by allovertown

If we were building the city from scratch, there's no reason for the gallery to exist. Even after the improvements, it's kind of a mess. So in a sense, I agree.

But we're not starting from scratch and this has some assets, most notably a pretty nice movie theater, that center city had been lacking. It's far from perfect, but it's fine now and can hopefully continue to improve as it fills out after all this craziness dies down. I hope it survives.

Agreed. It's a fantastic cinema too. And City Winery is a really neat, unique addition. Round One is something Center City didn't have either and is awesome if you have kids. Even the goofy Candytopia was a unique offering that was worth a walkthrough. That said, I wished from the beginning of all of this that they'd focus on creating more of a big box destination - Best Buy, etc. (larger format strip mall stores) - so it wouldn't compete and/or cannibalize the offerings of Walnut Street. Basically Walnut (and Chestnut) Street for smaller format mall-type stores in Center City. Market East/Fashion District big box. No reason we couldn't have had both.

Sadly, Walnut Street is getting BATTERED during all of this. Maybe landlords will lower rents Post COVID - just pray in the meantime that it doesn't became Market Street West 2.0 with nothing but Banks and Cell phone stores as far as the eye can see.

[iamrobk]

Originally Posted by Londonee

Sadly, Walnut Street is getting BATTERED during all of this. Maybe landlords will lower rents Post COVID - just pray in the meantime that it doesn't became Market Street West 2.0 with nothing but Banks and Cell phone stores as far as the eye can see.

While I know some of the closed businesses on Walnut are, sadly, closed permanently, several of the recently closed businesses on Walnut Street are just moving to different locations on Walnut Street. Generally speaking I think Walnut Street still a profitable location for a lot of these businesses, so I think it will come back fine, it just may take a little time.

[allovertown]

Originally Posted by Londonee

Sadly, Walnut Street is getting BATTERED during all of this. Maybe landlords will lower rents Post COVID - just pray in the meantime that it doesn't became Market Street West 2.0 with nothing but Banks and Cell phone stores as far as the eye can see.

Maybe I'm overly optimistic, but assuming a vaccine arrives and we are able to return to any semblance of "normal" I just can't see that happening. I'm sure we'll continue to see unfortunate situations where places close. But I see no reason why they won't be replaced with similar profile businesses when this all ends.

There has been a lot of discussions about how the success of people working from home during the pandemic will likely accelerate a move in that direction even when this is over. That may be true but I feel like the opposite may happen for online shopping. It's convenient, sure, but it fucking sucks and I'm sick of it. I can't wait to be back in stores, I'm restaurants, in bars.

I feel like being forced to quit this stuff cold turkey has just reinforced for many, the positive aspects of an in person experience that we're now desperately missing.

I have the feeling it won't take long to rebound.

[summersm343]

CONVERSATION ENDS HERE.

Any more posts about this will result in suspension.

While I encourage talks about the COVID-19 topic and the political buffoonery surrounding it in our dear country of 'Merica, the Philadelphia Lowrise General/Development thread is CLEARLY not the correct place for it.

[DudeGuy]

Portfolio of Rite Aid stores with development potential sells in Philadelphia

OCF Realty has picked up three standalone Rite Aid stores in Philadelphia with the possibility of eventually using at least two of the parcels as future development sites.

The Philadelphia real estate company bought:

801 S. 9th St., which is a 21,000-square-foot site in the city's Bella Vista neighborhood;
1201-43 West Girard Ave., which is a 46,000-square-foot parcel covering an entire block;
8130 Roosevelt Blvd., which totals 38,000 square feet at Roosevelt and Solley Avenue.
Heidenberg Properties of Closter, New Jersey, was the seller. The three properties were sold as a portfolio and a sale price wasn’t disclosed.

OCF Realty owner Ori Feibush couldn’t be reached for comment. Feibush does residential development in Philadelphia.

The deal was a year in the making, said Joshua Nadel, who along with colleague Jake Reisman of MPN Realty arranged the transaction. The lengthy negotiation came as a result of Rite Aid having the right of first refusal to buy the properties as part of its leases, Nadel said. Once the pharmacy retailer signed off on that, a deal could be worked out between Heidenbeg and OCF.

Retail properties are increasingly being looked at for new uses as sales shrink, tenants dwindle and owners find opportunities to give them a new life as something else, Nadel said. “Retail properties need to be repurposed and we’re going to see more and more of that,” Nadel said.

They are more often being targeted for their development potential, he said. Single-tenant retail parcels are typically between 20,000 and 50,000 square feet and have ample parking, making them a good size for bigger developments after an existing structure is torn down. In most cases, they are well located in neighborhoods, which is another characteristic making them attractive to developers.

Not all are equal. A dense, urban environment is more conducive to these new uses compared with a suburban location. Many of these single-tenant suburban sites are located on out parcels of strip centers or along a major commercial thoroughfare.

A couple of years ago, Nadel sold a Rite Aid to Alterra Property Group, a Philadelphia development company, at 47th and Chestnut streets in University City. Alterra plans to hold onto it for the remainder of the lease and figure a plan when that time comes.

In the case of the three properties OCF bought, the Ninth Street and Girard Avenue sites “are superior development sites” because of their size and location, Nadel said. The Roosevelt Avenue location will likely remain as a retail site.

“Some of these retail properties have such vehicular traffic that the highest and best use is retail as opposed to development,” he said.

https://www.bizjournals.com/philadel...-rite-aid.html

[PHLtoNYC]

Originally Posted by DudeGuy

https://www.bizjournals.com/philadel...-rite-aid.html

I posted this in the Philadelphia development FB group and sadly it was met with not as much enthusiasm as I would have thought.

I believe commercial spaces are planned for these developments too, which is good.

[Jawnadelphia]

Originally Posted by PHLtoNYC

I posted this in the Philadelphia development FB group and sadly it was met with not as much enthusiasm as I would have thought.

I believe commercial spaces are planned for these developments too, which is good.

The reaction you got on FB is probably more related to the developer here - OCF aka Ori Feibush, he tends to rub a lot of people the wrong way. Whatever side of the gentrification issue you land (or in between), he hasn't helped his cause with some really snarky comments in the past to the media and on social media platforms.

[eixample]

The 9th street rite aid is the site of the famous Palumbo's night club, I believe. Definitely a primo location.

[DudeGuy]

Interesting article laying out some potential development sites for new Sixers arena.

https://www.inquirer.com/business/si...-20200916.html

[summersm343]

Hotel Replacing a Mansion at 3rd & Walnut?





Read more here:
http://www.ocfrealty.com/naked-phill...ion-3rd-walnut

[summersm343]

Wow, Apartments and Market Coming Soon at Germantown and Dauphin







Read more here:
http://www.ocfrealty.com/naked-phill...antown-dauphin

[summersm343]

5-story office/commercial building planned by RPG at 13th and Diamond

North Philadelphia Office Building

Details
Size: 80,000 sf
Cost: $22,000,000
Completion: TBD

Radnor Property Group is the developer of this speculative office building just off of North Broad Street in a rapidly redeveloping section of Philadelphia. An early learning center will occupy most of the ground floor of the building, with entry at the southeast corner. The office floors above have a separate entry at the southwest corner. A new office building has not been built in this section of North Philadelphia in many years. This represents both a vote of confidence in a rebounding neighborhood and a commitment to its future.

Link here:
https://myarchitecture.build/project...fice-building/

[summersm343]

32nd Street Residences - 10 floors

Details
Size: 138,400 SF
Cost: $42,560,000
Completion: TBD

Our proposal for a residential building on the boundary between Drexel University and the SEPTA Powelton Yard site is driven by its context. Drexel University has an ongoing need for housing, both on and off campus, and the Radnor Property Group has been filling this need. The proposed program for this triangular piece of property is for small apartments that cater to university students, young faculty and staff, as well as young professionals. The small size equates to affordable rents. There are 217 units in all, divided approximately into 1/3 333 SF studios, 1/3 433 SF studios, 1/3 533 SF one bedrooms. 53 cars are provided below the building at track level, shared with SEPTA, and there is also provided an independent SEPTA Rail Crew Quarters / Reporting Facility.

Read more here:
https://myarchitecture.build/project...et-residences/

[PhilliesPhan]

Originally Posted by summersm343

5-story office/commercial building planned by RPG at 13th and Diamond







Link here:
https://myarchitecture.build/project...fice-building/

I'm not sure if this is directly related to the above project or not, but I did see that a portion of the lot at 13th and Diamond is fenced-off and contains dirt last Saturday. There were also a bunch of Temple trucks within the fencing, so I assumed that the neighborhood health center that Temple proposed a few years back was finally starting up.

I think that an office building at 13th and Diamond makes more sense than it initially seems. As an alumnus of the Fox School of Business, such a building could make for a great incubator space for Fox students with budding business ideas. It could lead to more opportunities for North Philly further down the line.

Also, not only do I absolutely LOVE the design of the building at 7th and Germantown, but I also absolutely LOVE that a building is rising at that location! With all of the development to the east, west, and south, it's about time that Germantown Avenue receives something massive. A redeveloped Germantown Avenue would not only make living in Norris Square, South Kensington, and Ludlow--all of which lack a strong commercial corridor--more exciting, but it may push development to the north.

[PHL10]

Originally Posted by DudeGuy

Interesting article laying out some potential development sites for new Sixers arena.

https://www.inquirer.com/business/si...-20200916.html

...and then?