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-   -   PHILADELPHIA | 1300 Fairmount | 185 FT | 14 FLOORS (http://forum.skyscraperpage.com/showthread.php?t=216750)

summersm343 Apr 22, 2015 3:11 PM

PHILADELPHIA | 1300 Fairmount | 185 FT | 14 FLOORS
 
Title: 1300 Fairmount
Project: Residential/commercial/retail
Architect: Cope Linder
Developer: RAL Development
Location: 1300 Fairmount Ave. Philadelphia, PA
Neighborhood: Spring Arts
District: North Philadelphia
Floors: 14 floors
Height: 185 feet

http://cdn.phillymag.com/wp-content/...3.57.32-PM.png

http://cdn.phillymag.com/wp-content/...1287936281.png

PDF here:
http://www.phila.gov/CityPlanning/pr...DR_ForWEB2.pdf

- $15 million to Broad Street Holdings LP to build a supermarket, two parking levels, "two residential towers, and 27 residential rowhomes" at 1300 Fairmount Ave., which the state calls a "pivotal knuckle" of North Broad St., and New York developer RAL Companies says is "at the tipping point" for the 860,000 sf development.
Read more at http://www.philly.com/philly/blogs/i...uRSEXYLM1PY.99

http://www.ralcompanies.com/project-list.php

hammersklavier Apr 22, 2015 3:17 PM

From the site:
Quote:

RAL has been hired by the lender on this foreclosed 3.75 acre site to analyze the site’s development potential. Located at the edge of Philadelphia’s Loft District and Spring Gardens neighborhoods, the area is at the tipping point of renewal.

RAL has identified the opportunity for an 860,000 square foot mixed use development along with potential for substantial financial incentives. RAL is working with the bank’s senior management and Philadelphia’s administration to envision a project that will act as a catalyst to drive the revitalization of the neighborhood.
...and this is the sum total of the known information on the project.

AbortedWalrus Apr 22, 2015 3:20 PM

I like how the setback respects views of the Divine Lorraine on all noteworthy sides. This would be a crazy awesome development for that neighborhood and North Broad in general.

TempleGuy1000 Apr 22, 2015 4:59 PM

If this ever gets built this truly would be the game changer for that area. Could spur along the divine Lorraine/Met into getting fixed too. Wow just imagining those 3 things done could change the dynamic of that part of the city. Blumenfeld seems to really just be full of hot air though so Idk.

1487 Apr 22, 2015 7:34 PM

would be nice to see this happen, but this seems like a longshot. Maybe if the DL happens it will make this more likely.

summersm343 Apr 22, 2015 7:36 PM

They're doing work on the Divine Lorraine now guys. Have you been by?

Looks like Blumenfeld is also starting work on the "Mural Lofts" at Broad and Spring Garden.

Leviathant Apr 22, 2015 11:16 PM

I noticed in the last week or two that someone finally started tearing down the decrepit brick buildings at the triangle where Mt Vernon, Ridge, and 13th meet. I don't see anything there in the renderings, but I do wonder if that's related.

FiggyOlive Apr 23, 2015 10:24 AM

I like the mini mansion row homes

1487 Apr 23, 2015 12:42 PM

Quote:

Originally Posted by summersm343 (Post 7000271)
They're doing work on the Divine Lorraine now guys. Have you been by?

Looks like Blumenfeld is also starting work on the "Mural Lofts" at Broad and Spring Garden.

I can see it from the train, but I havent been past the the front in weeks. I'm glad something is happeneing. I know they tweeted some pic of preliminary work last week but I thought in his last public comments EB said they hoped to start work in June. The area east of broad and Fairmount needs a lot of work so the more that can be filled in the better. Lots has been built in that vicinity but there are still a lot of empty lots and vacant buildings. Im definitely skeptical of mega plans by out of town developers with no local track record- few such projects seem to come to fruition.

Larry King Apr 23, 2015 3:16 PM

1. this looks like a typical pie in the sky proposal put together by a lender and developer friend to flip the land. 2. is gov wolf really cutting checks for development projects? I know rendell used to.. corbett ended it, where does wolf stand?

jn00 Apr 23, 2015 3:29 PM

Quote:

Originally Posted by Larry King (Post 7001278)
1. this looks like a typical pie in the sky proposal put together by a lender and developer friend to flip the land. 2. is gov wolf really cutting checks for development projects? I know rendell used to.. corbett ended it, where does wolf stand?

I don't think Corbett ended it, he just reduced it. One of the articles said that of $1B requested in 2014, $200M got funded.

Doesn't seem to be a good use of taxpayer funds to create more multifamily / retail projects when these are getting done without anyway. I believe the program was originally intended for projects w/ significant job creation (e.g., Augusta helicopter plant).

summersm343 Apr 23, 2015 4:05 PM

Quote:

Originally Posted by jn00 (Post 7001294)
I don't think Corbett ended it, he just reduced it. One of the articles said that of $1B requested in 2014, $200M got funded.

Doesn't seem to be a good use of taxpayer funds to create more multifamily / retail projects when these are getting done without anyway. I believe the program was originally intended for projects w/ significant job creation (e.g., Augusta helicopter plant).

I agree typically, that these tax dollars shouldn't be handed out to developers of multifamily projects in areas that are already booming. HOWEVER, this area is definitely struggling. This development, with a nice added fund of taxpayer dollars, could kick-start redevelopment of the entire area.

1487 Apr 23, 2015 7:46 PM

Quote:

Originally Posted by jn00 (Post 7001294)
I don't think Corbett ended it, he just reduced it. One of the articles said that of $1B requested in 2014, $200M got funded.

Doesn't seem to be a good use of taxpayer funds to create more multifamily / retail projects when these are getting done without anyway. I believe the program was originally intended for projects w/ significant job creation (e.g., Augusta helicopter plant).

I dont think they really explain the criteria in detail but I think they evaluate the amount of locked in private financing, job creation, the market limitations and the overall need to kick start an area when they choose the winners. I think we can all safely assume the gallery will get its money. Not so sure about this one.

summersm343 Apr 28, 2015 5:29 PM

Article from Hidden City on the project. Not really any new info:
http://hiddencityphila.org/2015/04/m...rmount-avenue/

wondertwinalpha Jun 8, 2015 4:54 PM

Another article on this on Plan Philly
 
http://planphilly.com/articles/2015/...ine-s-backyard

Larry King Jun 8, 2015 5:57 PM

If this is a real project, i'll eat my hat

1487 Jun 8, 2015 7:08 PM

well one issue is that they are clearly saying without a substantial subsidy the project wont happen.

summersm343 Jun 8, 2015 11:24 PM

Quote:

Originally Posted by wondertwinalpha (Post 7054676)

Renderings and information from the article

http://planphilly.com/uploads/media_....752.360.c.png

http://planphilly.com/uploads/media_....752.495.s.png

This week, the lights should come on, when developers with RAL Companies of New York present their proposals to the Planning Commission, and two City Council committees consider bills that would grant the project various exemptions related to loading and curb cuts.

Those discussions have led, so far, to plans for two apartment towers and a supermarket on Ridge Avenue. Preliminary site plans—the Levines stressed that the proposal is in flux—also show a small group of townhomes at the corner of 13th and Wallace streets, to be built in a future phase of construction.

At this point, the plans include approximately 480 apartments with 580 parking spaces, shared between the residents and the supermarket customers. The project would reach a maximum height of 221 feet on the western tower, and contain 83,000 square feet of retail space. The apartments would be placed above the parking structure on the fifth floor, and the developers plan to claim a floor-area bonus for open space on the site. The complex will have 168 bicycle parking spaces.

Last week, the state granted Eric Blumenfeld a $3.5 million grant from the Redevelopment Assistance Capital Program (RACP). For the 1300 Fairmount project, RAL is shooting a bit higher: they’ve applied for a RACP grant worth $15 million. Robert Levine said they’d also consider seeking federal New Market Tax Credits.

http://planphilly.com/articles/2015/...ine-s-backyard

1487 Jun 9, 2015 12:29 PM

I thought the state just realeased its list of projects that were getting grants. Not sure when this project team would find out if they are getting anything- I thought the grants were distributed once a year.

summersm343 Jun 9, 2015 11:00 PM

Supermarket, apartments to go up next to the Divine Lorraine
From the Philadelphia Business Journal

http://www.bizjournals.com/philadelp...fairmount.html


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