PHILADELPHIA | Highrise Development Thread X

[cardeza]

Originally Posted by TK2001

Where is this CDR document PDF? Gonna need it for a 3d model

it probably hasnt made it that far, if its legit it will get there eventually

[cardeza]

Originally Posted by PHL10

OK, two 500 footers on the same block there is pretty crazy. That's not something I would have ever predicted.

lets hope they both actually happen- long way to go right now- especially for the second one which hasn't even become a CDR presentation yet.

[cardeza]

Originally Posted by PHLtoNYC

The business world too. Silverstein Properties, a huge developer in New York is now involved in a development in University City and Silverstein reps were quoted stating their excitement to enter the Philadelphia market. Cantor Fitzgerald, a New York financial firm is also involved.

The momentum and interest is certainly there, lets just hope the city doesn't screw it up (and I mean City Hall).

Most large american cities are run by left leaning governments- this is not just a "philly problem", if you consider it a problem. I mean is there any city more liberal than SF? Yet it remains a jobs hub with high real estate prices and increasing population. Not saying that the cities are analogous, but the point is that any person or corporation that is interested in locating in a major city with access to talent, transit, culture, etc. is more than likely choosing from a list of cities that are far more progressive than america as a whole. Cities all over are passing "anti-business" laws related to minimum wage (even florida approved such an increase), housing/zoning changes, affordable housing, etc. Even in red states the cities are still left leaning islands- Austin and Atlanta come to mind.

[TK2001]

Originally Posted by cardeza

it probably hasnt made it that far, if its legit it will get there eventually

These presentations seem to be the same PDFs they upload on the city site. It'll probably be there this month, next month or the following months

[ScreamShatter]

Originally Posted by cardeza

Most large american cities are run by left leaning governments- this is not just a "philly problem", if you consider it a problem. I mean is there any city more liberal than SF? Yet it remains a jobs hub with high real estate prices and increasing population. Not saying that the cities are analogous, but the point is that any person or corporation that is interested in locating in a major city with access to talent, transit, culture, etc. is more than likely choosing from a list of cities that are far more progressive than america as a whole. Cities all over are passing "anti-business" laws related to minimum wage (even florida approved such an increase), housing/zoning changes, affordable housing, etc. Even in red states the cities are still left leaning islands- Austin and Atlanta come to mind.

People are fleeing San Fran though now that they have the opportunity to work remotely. Philly is more liberal than San Fran in lots of ways, especially our tax code. Wage tax is 1.5% in SF and property tax is 1.1% compared to 3.5% and 1.3% in Philly.

[SEFTA]

Originally Posted by ScreamShatter

People are fleeing San Fran though now that they have the opportunity to work remotely. Philly is more liberal than San Fran in lots of ways, especially our tax code. Wage tax is 1.5% in SF and property tax is 1.1% compared to 3.5% and 1.3% in Philly.

This is a myth
San Francisco Population


https://www.usapopulation.org/san-francisco-population/

[mcgrath618]

Why are we talking about San Fransisco in a Philadelphia P&C thread?

[3rd&Brown]

Originally Posted by ScreamShatter

People are fleeing San Fran though now that they have the opportunity to work remotely. Philly is more liberal than San Fran in lots of ways, especially our tax code. Wage tax is 1.5% in SF and property tax is 1.1% compared to 3.5% and 1.3% in Philly.

And the top income tax bracket in California is 10.3 %. It's 9.3% on income above 55K.

So that puts SF State + City = 10.4% for most people.

Philly is 3.08 + 3.87 = 6.95

That's a significant difference.

[summersm343]

Originally Posted by SEFTA

This is a myth

https://www.usapopulation.org/san-francisco-population/

I think he meant now, in 2020, due to the pandemic and remote work exploding this year. I did hear this is the case for NYC to Philly. Not sure if it's true or a myth though... I also heard "people are leaving Philadelphia in droves" to the surrounding suburbs... I'll continue to think it's all hyperbole until I see cold hard facts and numbers from the census.

[SEFTA]

Is there more news on 1826 Chestnut Street (CVS)?
It seems the link was removed.
Will it be getting it's own thread?
I'm loving this project.

1826 Chestnut Street 12-3-20

1826 Chestnut Street 12-3-20 b

[allovertown]

Originally Posted by mcgrath618

Why are we talking about San Fransisco in a Philadelphia P&C thread?

Because even a blatantly and effusively positive story about Philadelphia, leads a significant percentage of the people here to just launch back into their never ending bitching about their favorite philly gripes(taxes, trash, and powerlines,) for reasons that are all but impossible to discern.

[mcgrath618]

Originally Posted by SEFTA

Is there more news on 1826 Chestnut Street (CVS)?
It seems the link was removed.
Will it be getting it's own thread?
I'm loving this project.

1826 Chestnut Street 12-3-20

1826 Chestnut Street 12-3-20 b

I mean, we could probably make a thread for it, but I figured we'd wait until we had official renderings from a CDR packet or press release or something.

Those renders, from what can be seen, look gorgeous though. I'm really liking this tower.

[mcgrath618]

1826 Chestnut

[ScreamShatter]

Originally Posted by SEFTA

This is a myth
San Francisco Population


https://www.usapopulation.org/san-francisco-population/

S.F. and Philly are both great. Just saying, I don’t think S.F. is really more progressive than Philly.

Btw. Population leaving wise, I was asking about 2020. https://www.sfchronicle.com/business...r-15635160.php

[ScreamShatter]

Originally Posted by 3rd&Brown

And the top income tax bracket in California is 10.3 %. It's 9.3% on income above 55K.

So that puts SF State + City = 10.4% for most people.

Philly is 3.08 + 3.87 = 6.95

That's a significant difference.

Not denying Cali has higher taxes than PA. Personally, I support higher state taxes and lower city. Localized socialism doesn’t work without broad income diversity, which Philly doesn’t have. Homelessness, education, transit, etc are state issues, not city and towns, in my opinion.

But I digress. Was only pointing out Philly is more liberal government wise than S.F.

[3rd&Brown]

Originally Posted by ScreamShatter

Not denying Cali has higher taxes than PA. Personally, I support higher state taxes and lower city. Localized socialism doesn’t work without broad income diversity, which Philly doesn’t have. Homelessness, education, transit, etc are state issues, not city and towns, in my opinion.

But I digress. Was only pointing out Philly is more liberal government wise than S.F.

I don't disagree. PA would be better off with higher state taxes and lower local taxes, generally.

There are many places where PA falls short. School funding and higher education costs (i.e. lack of state subsidization) are chief among them.

We also shouldn't be giving lottery revenue to old people and we should be taxing natural gas.

[Radio5]

It's funny seeing people complain about philly taxes on here. I have property in Cali and Philly and let's just say, it's a lot cheaper, city/state fee wise, to own in Philly. In California I have to pay $800 a year for an LLC no matter how much it made. In Philly, it's a $125 one time fee. That alone makes me want to just own in Philly....of course, paying for snow removal, and higher insurance rates almost makes up for that sooo

[3rd&Brown]

Originally Posted by Radio5

It's funny seeing people complain about philly taxes on here. I have property in Cali and Philly and let's just say, it's a lot cheaper, city/state fee wise, to own in Philly. In California I have to pay $800 a year for an LLC no matter how much it made. In Philly, it's a $125 one time fee. That alone makes me want to just own in Philly....of course, paying for snow removal, and higher insurance rates almost makes up for that sooo

You're insurance is higher in Philly than it is in Cali, where your home could burn or be crushed by an earthquake at any moment?

That's amazing.

[Redddog]

Originally Posted by 3rd&Brown

All these proposals for sure have New York money behind them.

The returns in NYC have disappeared, so they're chasing them elsewhere with their big pockets.

.....

Have you been to NYC lately? There are TONS of contruction projects going on there. I'm not sure I would say thet the returns have disappeared if you're going by current projects under construction as an indicator.

But there is definitly huge momentum happening here as people are finally realizing how super cool Philly is and how shockingly less expensive it is.

[ScreamShatter]

Originally Posted by Radio5

It's funny seeing people complain about philly taxes on here. I have property in Cali and Philly and let's just say, it's a lot cheaper, city/state fee wise, to own in Philly. In California I have to pay $800 a year for an LLC no matter how much it made. In Philly, it's a $125 one time fee. That alone makes me want to just own in Philly....of course, paying for snow removal, and higher insurance rates almost makes up for that sooo

Philly has the highest city taxes in the country so it’s a fair criticism. Many of us feel the taxes are holding the city’s continued growth back by discouraging middle class people from living in the city so we have a broader tax base to fund social programs, improve our streets, and clean up the trash.

S.F. is in a very different situation than Philly; it’s got fast growing, high profit companies that attract high paying people to pay taxes. Meanwhile, Philly is a working class city with high poverty and a very small middle class so all the tax burden is on the middle to fund social programs while the city falls short on road maintenance and trash/sanitation.