PHILADELPHIA | Lowrise/General Developments Thread - Page 704

PhilliesPhan · #**14061** Posted **Aug 14, 2020, 12:33 AM**

Just took a walk along the northern edge of Brewerytown, along Cecil B. Moore Ave. There are at least 3-4 holes in the ground between Ridge Ave and 29th St.! Additionally, many new homes are either complete, under construction, or are getting rehabbed along 24th, 25th, 26th, and 27th Streets just north of Cecil B. Moore.

I’ll take pics next time!

eixample · #**14062** Posted **Aug 14, 2020, 3:33 PM**

Related to the discussion in the 1001 S. Broad thread about covid-effects on real estate, this report from Zillow may be of interest.

https://www.zillow.com/research/2020...-report-27712/

So far it does not appear that there is a nationwide exodus from urban to suburban living...

Quote:

Are people fleeing the cities for greener suburban pastures? Some faint signals may have emerged in certain places, but by and large, the data show that suburban housing markets have not strengthened at a disproportionately rapid pace compared to urban markets. Both region types appear to be hot sellers’ markets right now – while many suburban areas have seen strong improvement in housing activity in recent months, so, too, have many urban areas.

And related to home-value trends in Philadelphia, more positive news for the city (but suburbs doing well too)

Quote:

Some regions saw stronger evidence for a suburban-urban diverging trend than others. For example, in the New York City metro, home values in urban ZIP codes were decelerating in June relative to pre-COVID trends ( -0.2 pp) while suburban ZIP codes were accelerating (0.2 pp). The same trend holds in Boston with urban home values down 0.5 percentage points and suburban homes values up 1.3 percentage points. However, this deceleration was already a trend (comparing February YoY to January YoY) in the Northeast Region overall, and the New York City metro.

Conversely, the Chicago metro area experienced the exact opposite trend with growth, decelerating in suburban areas while urban areas accelerated. And areas like Philadelphia and Miami saw accelerated growth in both regions, but more so in urban ZIP Codes.

Looking solely at this June, YoY home value growth is higher in the suburban New York City metro (1.4% YoY) than in urban New York City metro (0.4% YoY). Same is true for Houston, Atlanta, Washington, Chicago, and Boston. Again only considering June’s growth rate, YoY home value growth is lower in the suburban Los Angeles metro (3.8% YoY) than in urban Los Angeles metro (5.1% YoY). Same is true for Dallas, Philadelphia, Miami, and the U.S. overall.

I realize that rising home values is very much a mixed bag (particularly if it is the result of a constricted supply in the suburbs), but it seems like at this point what is most important is that there is not a drop in value as people flee Philly or the metro.

Aaamazarite · #**14063** Posted **Aug 17, 2020, 2:26 PM**

4701 Pine pre-release CDR package drop! Decent design, matching facade with the rest of Garden Court Plaza, but most of the windows face other properties that could be developed in the future and block those windows. 309 S 48th is for sale right now at an astronomically impractical price and 4726-48 Spruce is slated for a yet-to-be-announced development.

https://tinyurl.com/yxlxls82

https://www.gardencourtca.org/post/z...e-4701-pine-st

mcgrath618 · #**14064** Posted **Aug 17, 2020, 3:10 PM**

Quote:

Originally Posted by Aaamazarite

4701 Pine pre-release CDR package drop! Decent design, matching facade with the rest of Garden Court Plaza, but most of the windows face other properties that could be developed in the future and block those windows. 309 S 48th is for sale right now at an astronomically impractical price and 4726-48 Spruce is slated for a yet-to-be-announced development.

https://tinyurl.com/yxlxls82

https://www.gardencourtca.org/post/z...e-4701-pine-st

What a gorgeous design!

Larry King · #**14065** Posted **Aug 17, 2020, 4:29 PM**

Did post bros actually sell that site or is this some sort of straw-developer to get through approvals thing?

Boku · #**14066** Posted **Aug 17, 2020, 4:33 PM**

Affordable apartments to rise at former site of notorious North Philly hotel

https://www.inquirer.com/news/libert...-20200817.html

Quote:

A 41-unit affordable-housing development is scheduled to break ground by the middle of next year at the former site of the Liberty Motel in North Philadelphia, a magnet for drug use and prostitution before being acquired and shut down by the apartment project’s nonprofit planner.

Work on the project at Germantown Avenue and Westmoreland Street, called “Be a Gem Crossing,” is moving forward with the help of $2.25 million in new federal and state support, planner North10 Philadelphia said in a release late last week.

Aaamazarite · #**14067** Posted **Aug 18, 2020, 2:20 PM**

Quote:

Originally Posted by Larry King

Did post bros actually sell that site or is this some sort of straw-developer to get through approvals thing?

It's some kind of partnership-- Infinity Collective is now General Partner of the Limited Partnership formed by Post when they bought the place and Infinity seems to have taken out the latest mortgage on it.

summersm343 · #**14068** Posted **Aug 18, 2020, 4:25 PM**

Quote:

Originally Posted by Boku

Affordable apartments to rise at former site of notorious North Philly hotel

https://www.inquirer.com/news/libert...-20200817.html

Nice project for the area! I'll take it

summersm343 · #**14069** Posted **Aug 18, 2020, 4:26 PM**

Quote:

Originally Posted by Aaamazarite

4701 Pine pre-release CDR package drop! Decent design, matching facade with the rest of Garden Court Plaza, but most of the windows face other properties that could be developed in the future and block those windows. 309 S 48th is for sale right now at an astronomically impractical price and 4726-48 Spruce is slated for a yet-to-be-announced development.

https://tinyurl.com/yxlxls82

https://www.gardencourtca.org/post/z...e-4701-pine-st

Great project!

summersm343 · #**14070** Posted **Aug 18, 2020, 4:28 PM**

It Ain’t Wellshaus, But Delaware Ave. is Getting A Huge Project

Demo happening:

Project rendering:

Read more here:
http://www.ocfrealty.com/naked-phill...g-huge-project

summersm343 · #**14071** Posted **Aug 18, 2020, 6:34 PM**

Hilco names operations chief for massive Philadelphia refinery redevelopment

Quote:

Hilco Redevelopment Partners has named an operations head to help oversee its planned 1,300-acre transformation of the former Philadelphia Energy Solutions refinery site into an industrial and warehouse hub.

Stephanie Eggert takes on the newly created position of senior vice president, operations and will report directly to CEO Roberto Perez.

Eggert is no stranger to the South Philadelphia refinery site. She was vice president of business planning for Philadelphia Energy Solutions prior to Hilco's $225.5 million acquisition of the site in June. In the role, she was responsible for productivity and cost efficiency.

"We continue to build our HRP Philadelphia team, drawing from the local area's rich talent pool," Perez said in a statement. "Stephanie's seven years of experience at the former PES Refinery site provides us with a unique depth of expertise that will help the organization effectively manage business operations, synthesize workflows, and coordinate planning initiatives as we work to create an environmentally friendly employment hub here in Philadelphia."

Once completed, Hilco plans to start developing the site into what could eventually be 13 million to 15 million square feet of light industrial, warehouse-distribution, last-mile and cold storage space. Perez told the Business Journal in June he expects the eventual investment to be in the hundreds of millions of dollars. The development is expected to create thousands of jobs.

Read more here:
https://www.bizjournals.com/philadel...ladelphia.html

phishtown · #**14072** Posted **Aug 18, 2020, 7:02 PM**

https://whyy.org/articles/for-rent-a...a-milk-bottle/

"Eiffel Tower of Kensington" is quite a stretch but it does look pretty cool now.

summersm343 · #**14073** Posted **Aug 23, 2020, 8:24 PM**

3700 Lancaster has started work:

See more here:
https://gbca.com/hard-hat-chat/proje...ction-company/

summersm343 · #**14074** Posted **Aug 23, 2020, 8:28 PM**

Broad and Spring Garden

Looks like this will be called "LVL North," and it has officially started construction.

Read more here:
https://www.clemensconstruction.com/projects/lvl-north

Knight Hospitaller · #**14075** Posted **Aug 23, 2020, 9:43 PM**

Quote:

Originally Posted by summersm343

Broad and Spring Garden

Looks like this will be called "LVL North," and it has officially started construction.

Read more here:
https://www.clemensconstruction.com/projects/lvl-north

What a waste

mcgrath618 · #**14076** Posted **Aug 23, 2020, 11:23 PM**

I would never condone arson, but some projects don’t deserve to see the light of day.

TonyTone · #**14077** Posted **Aug 24, 2020, 12:48 AM**

Quote:

Originally Posted by Knight Hospitaller

What a waste

What the fuck happened to the highrise that was supposed to go there? BROAD AND SPRING GARDEN is not a small corner it is one of the busiest intersections in the city with subway access right there and they want to build a 5 story building?

No way they approved this to let them waste space like this. put this shit in Wilmington

eixample · #**14078** Posted **Aug 24, 2020, 2:42 PM**

I get that it is an ugly design, but the "LVL North" building includes 410 apartments plus 110K in commercial space. Arthaus, on the other hand, only has 108 condos. So that's housing maybe 500 people at Spring Garden compared to maybe 250 at Spruce Street? I'm guessing Arthaus is on a significantly smaller lot, but shouldn't we be pressing for a lot more density there? I don't get why the Broad and Spring Garden is hated so much.

frbrown · #**14079** Posted **Aug 24, 2020, 3:26 PM**

Quote:

Originally Posted by eixample

I get that it is an ugly design, but the "LVL North" building includes 410 apartments plus 110K in commercial space. Arthaus, on the other hand, only has 108 condos. So that's housing maybe 500 people at Spring Garden compared to maybe 250 at Spruce Street? I'm guessing Arthaus is on a significantly smaller lot, but shouldn't we be pressing for a lot more density there? I don't get why the Broad and Spring Garden is hated so much.

According to the December CDR which is where the renderings are from, there is only 43,000 sq ft of commercial planned, and 498 residental units.
(https://www.phila.gov/media/20191120...3-2019-CDR.pdf)

Am I missing an updated proposal?

I see that differs from their website for LVL north. Was this changed? Perhaps the 2nd floor is being converted to retail instead of residential - which would account for the 80-90 lost residential units.

Regardless I am also a bit surprised at the response - Except that there was a laudable highrise proposal first...
As it stands LVL north will have more units and commercial space than other large projects, like Lincoln Square at Broad and Washington (which i feel has been a boon to the neighborhood).
Also it is a 7 story building.

eixample · #**14080** Posted **Aug 24, 2020, 4:16 PM**

Yeah, I took my numbers of units and commercial space from the clemens construction website posted above. Not sure if that conforms to the approved plans.

Lincoln Square is a very good comparison - I live relatively close to there. Unattractive design at a prominent intersection (ugly cladding, boxy design; they did preserve a cool train shed but also did a great job of hiding the one cool aspect of the design from view), but that is hardly noticeable on the ground once it is built. And LVL North sounds like it will be a neighborhood draw with a grocery store plus other retail (like Lincoln Square is).