PHILADELPHIA | Lowrise/General Developments Thread

[Philly Fan]

Originally Posted by boxbot

It looks like they finally built the Arch in Conshohocken! How exciting!

It's about time! After all, Conshohocken IS our Gateway to the West.

[boxbot]

Originally Posted by Philly Fan

It's about time! After all, Conshohocken IS our Gateway to the West.

Gateway to the West Conshohocken at least.

[Philly Fan]

Originally Posted by boxbot

Gateway to the West Conshohocken at least.

[br323206]

Originally Posted by Londonee

Wow that's a significant net loss on the fun factor scale. A live music venue unlike anything in the city (albeit probably pretty corny) versus...a travel agency. Hi, I'm in Delaware.

It would've been better than a travel agency, but I've been to Tin Roof and its basically the Applebee's of live music. Definitely doesn't compare to awesome places we have in this city.

[McBane]

Originally Posted by summersm343

2108-10 Walnut Street - 9 floors - condo and ground floor retail

Not necessarily a skyscraper, but wanted to post it here anyways since this is a decently significant development. Will partially replace a rowhome on Walnut and also replace a small parking lot. Zoning notices are up on the site.





http://astoban.com/2108-10/

Nice find! Beats what's there now. https://goo.gl/maps/74ahG5HCpo72

Just to clarify what Summers said, it does not appear that it is replacing 2108 rowhome - it's an overbuild. A nice one at that. Looks like ground floor retail on the new portion as well, which is welcome on this stretch of Walnut Street.

[wcphil]

I think SLS was awarded the money from last year's rcap but the payment of it is what is being held up. That article threw in details about this year's applicants getting held up on being decided on.

[Arch+Eng]

Originally Posted by summersm343

2108-10 Walnut Street - 9 floors - condo and ground floor retail

Not necessarily a skyscraper, but wanted to post it here anyways since this is a decently significant development. Will partially replace a rowhome on Walnut and also replace a small parking lot. Zoning notices are up on the site.





http://astoban.com/2108-10/

I love to see this. I want to see much more of this!
Thank you Astoban

[blorkishdork]

Arch + Eng, if you are speaking of the overall idea of the project (scale and preserving an existing building) I agree completely. I love seeing these 'medium' density developments popping up along the 'outskirts' of center city. It allows the city to become more dense but without destroying the aesthetic feel of our row house neighborhoods. After looking at the zoning map, I wish we would see more CMX-2.5 and CMX-3 along the neighborhood commercial streets (Washington, South, Fairmount, Snyder, Girard, Broad, Lehigh etc.). So that more of the city can gradually densify.

[Arch+Eng]

Originally Posted by blorkishdork

Arch + Eng, if you are speaking of the overall idea of the project (scale and preserving an existing building) I agree completely. I love seeing these 'medium' density developments popping up along the 'outskirts' of center city. It allows the city to become more dense but without destroying the aesthetic feel of our row house neighborhoods. After looking at the zoning map, I wish we would see more CMX-2.5 and CMX-3 along the neighborhood commercial streets (Washington, South, Fairmount, Snyder, Girard, Broad, Lehigh etc.). So that more of the city can gradually densify.

Yup, I love the reuse of older buildings, keeps the architectural heritage and adds modern space. Makes the street more eclectic too with the Old + Contemporary juxtaposition. I just feel the city will look MUCH better in the future with a mixture of buildings from different eras, right smack next to each other.

[McBane]

Yes, I think that mid rise (8-12 floors) should be allowed by right throughout the city's commercial corridors as well as corner properties throughout "greater" Center City. Further, there should be some sort of zoning bonus that allows greater density near regional rail and subway stops and also surrounding parks.

[Philly Kid]

http://mobile.philly.com/beta?wss=/p...l&id=370001931

PREIT softening expectations due to budget constraints.

[summersm343]

Originally Posted by Philly Kid

http://mobile.philly.com/beta?wss=/p...l&id=370001931

PREIT softening expectations due to budget constraints.

PA lawmakers need to get their acts together. I think these Philly developers are starting to put the pressure on them.

[summersm343]

Hanover North Broad Development celebrates groundbreaking





http://philly.curbed.com/2016/2/24/1...groundbreaking

[boxbot]

Originally Posted by summersm343

Hanover North Broad Development celebrates groundbreaking

This is such an important project, linking North Phila to Center City and getting rid of two massive surface lots. Glad to see it's underway.

[3rd&Brown]

Just randomly checked Toll's website (which I do from time to time because they usually have site plan and/or building plan schematics where you can see exactly how many units are still available). I'm not that big of a fan of Toll but use them as a barometer for development since the information is so granular and they're new to urban markets.

Anyways, as we all know, 2400 South sold out eons ago (and no longer appears on its website). IMO, it was a resounding success from a sales standpoint.

Naval Square too is completely sold out.

Now New Market, the last Center City property currently under development has only 2 units left...both $600K 1 bedrooms on the 1st floor (understandable why these are the last to sell).

Anyway, my point is...Toll really dropped the ball by not having anything in Philadelphia in the pipe line. Any time you're running a business like that, one strategy to measure your business is to comp your sales year over year in each market. The fact that Toll went from having hundreds of transactions a year in Philadelphia (between these 3 developments) for the past 2-3 years to ZERO is a huge misstep for the business. I have to believe that the regional manager for Philadelphia is getting his ass handed to them.

It feels to me like they're really reluctant to venture outside of traditional Center City (to where the develop-able sites are) and as a result aren't able to get anything going, really. The Society Hill Playhouse doesn't count in my mind, as it isn't even going to be a for-sale project anymore.

They have always been (IMO) the best contender to take on one of those super blocks between Old City and Northern Liberties. Think the Mothers Work property. Why they have not, yet, is really perplexing to me. There aren't a lot of players who have the ability and cash to build a project over time...on such a site they could do a mix of townhomes, mid rise, and high rise, appealing to all sorts of buyers, and mitigate their risks at the same time (by having an assortment of phased product).

[Philly-Drew]

2/24/2016

Penn tower demo, from 2 days ago:

[summersm343]

Originally Posted by Philly-Drew

2/24/2016

Penn tower demo, from 2 days ago:

Thank you Philly-Drew!

I copied and re-posted your image in the thread for the replacement for this tower here:
http://forum.skyscraperpage.com/show...=217675&page=5

[Cro Burnham]

Originally Posted by 3rd&Brown

. . . It feels to me like they're really reluctant to venture outside of traditional Center City (to where the develop-able sites are) and as a result aren't able to get anything going, really. The Society Hill Playhouse doesn't count in my mind, as it isn't even going to be a for-sale project anymore.

They have always been (IMO) the best contender to take on one of those super blocks between Old City and Northern Liberties. Think the Mothers Work property. Why they have not, yet, is really perplexing to me. There aren't a lot of players who have the ability and cash to build a project over time...on such a site they could do a mix of townhomes, mid rise, and high rise, appealing to all sorts of buyers, and mitigate their risks at the same time (by having an assortment of phased product).

Very interesting and well thought-out. Makes you wonder.

[summersm343]

Originally Posted by 3rd&Brown

Just randomly checked Toll's website (which I do from time to time because they usually have site plan and/or building plan schematics where you can see exactly how many units are still available). I'm not that big of a fan of Toll but use them as a barometer for development since the information is so granular and they're new to urban markets.

Anyways, as we all know, 2400 South sold out eons ago (and no longer appears on its website). IMO, it was a resounding success from a sales standpoint.

Naval Square too is completely sold out.

Now New Market, the last Center City property currently under development has only 2 units left...both $600K 1 bedrooms on the 1st floor (understandable why these are the last to sell).

Anyway, my point is...Toll really dropped the ball by not having anything in Philadelphia in the pipe line. Any time you're running a business like that, one strategy to measure your business is to comp your sales year over year in each market. The fact that Toll went from having hundreds of transactions a year in Philadelphia (between these 3 developments) for the past 2-3 years to ZERO is a huge misstep for the business. I have to believe that the regional manager for Philadelphia is getting his ass handed to them.

It feels to me like they're really reluctant to venture outside of traditional Center City (to where the develop-able sites are) and as a result aren't able to get anything going, really. The Society Hill Playhouse doesn't count in my mind, as it isn't even going to be a for-sale project anymore.

They have always been (IMO) the best contender to take on one of those super blocks between Old City and Northern Liberties. Think the Mothers Work property. Why they have not, yet, is really perplexing to me. There aren't a lot of players who have the ability and cash to build a project over time...on such a site they could do a mix of townhomes, mid rise, and high rise, appealing to all sorts of buyers, and mitigate their risks at the same time (by having an assortment of phased product).

They don't even have to venture outside of "traditional" Center City, as there are still develop-able sites in Center City.

It seems to me that:

A. They are afraid to venture outside of traditional Center City or close proximity to it.
B. They are afraid to go for a highrise development in Center City.

[1487]

Originally Posted by 3rd&Brown

Just randomly checked Toll's website (which I do from time to time because they usually have site plan and/or building plan schematics where you can see exactly how many units are still available). I'm not that big of a fan of Toll but use them as a barometer for development since the information is so granular and they're new to urban markets.

Anyways, as we all know, 2400 South sold out eons ago (and no longer appears on its website). IMO, it was a resounding success from a sales standpoint.

Naval Square too is completely sold out.

Now New Market, the last Center City property currently under development has only 2 units left...both $600K 1 bedrooms on the 1st floor (understandable why these are the last to sell).

Anyway, my point is...Toll really dropped the ball by not having anything in Philadelphia in the pipe line. Any time you're running a business like that, one strategy to measure your business is to comp your sales year over year in each market. The fact that Toll went from having hundreds of transactions a year in Philadelphia (between these 3 developments) for the past 2-3 years to ZERO is a huge misstep for the business. I have to believe that the regional manager for Philadelphia is getting his ass handed to them.

It feels to me like they're really reluctant to venture outside of traditional Center City (to where the develop-able sites are) and as a result aren't able to get anything going, really. The Society Hill Playhouse doesn't count in my mind, as it isn't even going to be a for-sale project anymore.

They have always been (IMO) the best contender to take on one of those super blocks between Old City and Northern Liberties. Think the Mothers Work property. Why they have not, yet, is really perplexing to me. There aren't a lot of players who have the ability and cash to build a project over time...on such a site they could do a mix of townhomes, mid rise, and high rise, appealing to all sorts of buyers, and mitigate their risks at the same time (by having an assortment of phased product).

I want to know why they havent launched a hi rise in Philly yet. It's pretty ridiculous that they only want to do these midrise or townhouse projects here but they are building hi rises in North Jersey and Manhattan. I recall reading a quote in which they said the numbers don't work in Philly- and yet a company from out of town is trying to build a 50 story complex on Rittenhouse. Apparently they think the numbers work. As do the developers of 500 Walnut.