PHILADELPHIA | Highrise Development Thread X

[iheartphilly]

Popular Pennsylvania brewery enters Center City with food, bars and a rooftop deck

https://www.bizjournals.com/philadel..._news_headline

The part that caught my attention is that Pearl Properties bought the Embassy Suites here. Hope they have plans to renovate this hotel, both inside and out.

[Mikieman]

Bam, East Market crushing it!

https://www.inquirer.com/real-estate...-20191015.html

[cardeza]

Originally Posted by Mikieman

Bam, East Market crushing it!

https://www.inquirer.com/real-estate...-20191015.html

I feel like the reporter got that info from this site.....

[Urbanthusiat]

Originally Posted by cardeza

I feel like the reporter got that info from this site.....

There have been several occasions where discussions on this site became articles by Adelman... he definitely reads this. Hey Jacob!

[Londonee]

Originally Posted by iheartphilly

Popular Pennsylvania brewery enters Center City with food, bars and a rooftop deck

https://www.bizjournals.com/philadel..._news_headline

The part that caught my attention is that Pearl Properties bought the Embassy Suites here. Hope they have plans to renovate this hotel, both inside and out.

Very cool - 3 bars, rooftop patio, outdoor seating on the Parkway. What an upgrade.

[ScreamShatter]

Originally Posted by cardeza

It wont and if it did you still wouldnt see mass exodus from the suburbs. In the real world (i.e. where people other than cityphiles live) there are many who prefer office parks to CBDs. There are many who do not want to use public transportation as well. Sunbelt cities have relatively low taxes and yet they do not feature the type of office high rise density as their older counterparts in the NE. Drastic oversimplification to say tax rates solely determine office building development.

Maybe or maybe not. Broad tax reform in PA and Philly would make the city more appealing for businesses. We may pick up some businesses from the burbs. But we’d likely win more from other cities or international companies expanding into US.

It would have an impact. Anything the city can do to diversify the tax burden and spread it out on a wider group of people would help build the city’s middle class.

For the sake of everyone, let’s not go too deep with tax talk. Many people hate it and want to be respectful.

[3rd&Brown]

Originally Posted by cardeza

Thats only one reason and changing the tax code doesnt mean alll good jobs would relocate to the city. Many firms do not want to be in the city, period. Many cities that have a disproportionate % of regional jobs downtown have geographic barriers that impede the gradual diffusion of office developments into the burbs. When you look at sunbelt cities that typically dont face such constraints you see less dense CBDs and multiple business center nodes.

I'm not just talking about downtown.

There are fallow sites (in addition to the obvious candidates, like the Navy Yard) that can support and are zoned for light industrial uses. Places like Far Northeast Philadelphia (around the airport), the old Crown Cork site, the Tacony Arsenal, virtually the entire riverfront between Fishtown and roughly Bensalem, Erie Avenue east of Broad Street, Bakers Square in Nicetown/Germantown, SW Philly around the airport. I'd also argue much of the Philadelphia Energy Solutions site should be rezoned to accomodate light industrial and manufacturing uses that could support tens of thousands of jobs for middle income Philadelphians.

With tax reform, these places would be teeming with light industrial development that would be beneficial for Philadelphians and the entire region. Instead, these jobs are almost always moving to the suburbs.

Downtown (and University City) are a fraction of this city's landmass.

[3rd&Brown]

Originally Posted by cardeza

It wont and if it did you still wouldnt see mass exodus from the suburbs. In the real world (i.e. where people other than cityphiles live) there are many who prefer office parks to CBDs. There are many who do not want to use public transportation as well. Sunbelt cities have relatively low taxes and yet they do not feature the type of office high rise density as their older counterparts in the NE. Drastic oversimplification to say tax rates solely determine office building development.

Again, not all jobs are in officies. In the real world, to use your own words, most jobs actually aren't office jobs. These are also the jobs that most Philadelphians have (although this might not be evident to you, despite the fact that I get the sense that you are attempting to educate us on how the real world works). It is exactly those jobs that we need more of in the city, not in the CBD, but everywhere else.

Again. The existing transportation network would serve both employees and employers well. Today, most of those employers are in suburban industrial parks (not suburban office parks), and those suburban industrial parks could just as easily be in the city, attracting employees who don't need cars to get there.

[3rd&Brown]

Originally Posted by cardeza

I feel like the reporter got that info from this site.....

The most interesting tidbit in this article for me is that Jefferson Health System's Headquarters will be in a tower at 1101 Market. I don't recall that ever being explicitly stated.

"The medical tower would rise among a cluster of clinical and office buildings used by the Thomas Jefferson University hospital network surrounding the East Market site, including the health system’s soon-to-be headquarters tower at 1101 Market St."

This is on top of the topic of the article, which is that 1101 Chestnut will be a 23 story "medical office building".

"The Washington-based developer was granted zoning permits Friday for a 23-story medical office building and a 24-story tower with 396 dwelling units on the Chestnut Street-facing portion of the site"

So in conclusion, Jefferson is taking 2 buildings? 1101 Market and 1101 Chestnut? Or is it just sloppy writing?

[DudeGuy]

Originally Posted by 3rd&Brown

The most interesting tidbit in this article for me is that Jefferson Health System's Headquarters will be in a tower at 1101 Market. I don't recall that ever being explicitly stated.

"The medical tower would rise among a cluster of clinical and office buildings used by the Thomas Jefferson University hospital network surrounding the East Market site, including the health system’s soon-to-be headquarters tower at 1101 Market St."

This is on top of the topic of the article, which is that 1101 Chestnut will be a 23 story "medical office building".

"The Washington-based developer was granted zoning permits Friday for a 23-story medical office building and a 24-story tower with 396 dwelling units on the Chestnut Street-facing portion of the site"

So in conclusion, Jefferson is taking 2 buildings? 1101 Market and 1101 Chestnut? Or is it just sloppy writing?

Jefferson is moving into the old Aramark tower.

[Jayfar]

Originally Posted by 3rd&Brown

The most interesting tidbit in this article for me is that Jefferson Health System's Headquarters will be in a tower at 1101 Market. I don't recall that ever being explicitly stated.

"The medical tower would rise among a cluster of clinical and office buildings used by the Thomas Jefferson University hospital network surrounding the East Market site, including the health system’s soon-to-be headquarters tower at 1101 Market St."

This is on top of the topic of the article, which is that 1101 Chestnut will be a 23 story "medical office building".

"The Washington-based developer was granted zoning permits Friday for a 23-story medical office building and a 24-story tower with 396 dwelling units on the Chestnut Street-facing portion of the site"

So in conclusion, Jefferson is taking 2 buildings? 1101 Market and 1101 Chestnut? Or is it just sloppy writing?

Probably they are going with both. I imagine Market St may be more administrative functions and Chestnut St primarily medical practices. Probably most practical to have the latter functions in a purpose-built building immediately adjacent to their campus core.

[Redddog]

Originally Posted by Jayfar

Probably they are going with both. I imagine Market St may be more administrative functions and Chestnut St primarily medical practices. Probably most practical to have the latter functions in a purpose-built building immediately adjacent to their campus core.

How do we know it's not Penn?

[Urbanthusiat]

Originally Posted by Redddog

How do we know it's not Penn?

I suppose we don't, but Jefferson makes far more sense given the location.

[phishtown]

'I don’t have the support’: Blackwell defeated on bid to mandate more parking

Looks like some good news on the parking minimum bill.

[cardeza]

Originally Posted by ScreamShatter

Maybe or maybe not. Broad tax reform in PA and Philly would make the city more appealing for businesses. We may pick up some businesses from the burbs. But we’d likely win more from other cities or international companies expanding into US.

It would have an impact. Anything the city can do to diversify the tax burden and spread it out on a wider group of people would help build the city’s middle class.

For the sake of everyone, let’s not go too deep with tax talk. Many people hate it and want to be respectful.

Everyone needs to get an understanding of PA law before they oversimplify these "slam dunk" arguments. Philadelphia has very little control over its ability to shift the tax burden based on PA law. As has been noted, there was attempt to get Harrisburg to move towards amending the constitution to allow higher real estate tax rates for commercial properties and it died. In PA you can't have variable tax rates on anything which severely limits flexibility in crafting tax policy. Right now thousands of Philly residents are furious over their recent assessments and tax bills- and that is at today's rate. Shifting funding burden to RE tax under current uniformity clause constraints would be political suicide for any elected official.

[cardeza]

Originally Posted by 3rd&Brown

Again, not all jobs are in officies. In the real world, to use your own words, most jobs actually aren't office jobs. These are also the jobs that most Philadelphians have (although this might not be evident to you, despite the fact that I get the sense that you are attempting to educate us on how the real world works). It is exactly those jobs that we need more of in the city, not in the CBD, but everywhere else.

Again. The existing transportation network would serve both employees and employers well. Today, most of those employers are in suburban industrial parks (not suburban office parks), and those suburban industrial parks could just as easily be in the city, attracting employees who don't need cars to get there.

arent jobs at a 25 year high in the city? More is better, but the way the status quo is being described it sounds like we're talking about Detroit in the 80s. The initial comment was about cars and the inference that people wouldnt need them if we had lower taxes- something that sounds extremely theoretical and disconnected from how people outside of Center City and its adjacent neighborhoods live.

[Boku]

Some good news: Greater Philadelphia recognized as an emerging New World City

https://www.ceocouncilforgrowth.com/...ew-world-city/

For the first time, Greater Philadelphia is recognized as an emerging New World City in JLL’s Global Cities Report for leading the way in innovation in healthcare and life sciences.

And from the report:

Philadelphia now places among the top cities globally across the benchmarks of start-ups and science and technology produced both within and outside of the U.S., ahead of many other ‘New World Cities’ specialising in innovation. It is gaining global influence in healthcare and now routinely ranks in the world’s top 30 cities in measures of economic clout due to its skilled talent pool, high-quality universities and business gateway infrastructure.

[mcgrath618]

Originally Posted by phishtown

'I don’t have the support’: Blackwell defeated on bid to mandate more parking

Looks like some good news on the parking minimum bill.

Thank god. I can't wait for her to go.

[Aaamazarite]

Oops I dropped this



368 Units, RCO meeting on Oct 22nd at 990 Spring Garden 5th Floor 6:30pm

[Urbanthusiat]

^Nice! North Broad is on fire. Would be cool if they emphasize the connection with the rail park - hard to tell with just that diagram, but it looks like there is an open space on that side next to the retail where they'll presumably put landscaping and outdoor seating. New thread?