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Old Posted Sep 20, 2018, 8:15 PM
McBane McBane is offline
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Join Date: Sep 2006
Location: Philadelphia
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True. But I don't think a developer would ever take that for granted. We've witnessed some really ugly and marginally historic buildings certified. Robinson's and that health clinic on South Broad immeidately come to mind. And also that building on the corner of 19th and Chestnut where the new tower is going up is historic and the reason why was pretty weak if I recall.

But the bigger point is that, having gone through the trouble of demolishing the existing structure and now holding onto a clean slate property ready for development, that land is more valuable and will turn a profit even if the developer's plan don't come to fruition. This commentary isn't specific to this property, it's a general rule that is amplified if the structure pending demolition is in anyway controversial.