PHILADELPHIA | Lowrise/General Developments Thread

[summersm343]

Originally Posted by skyhigh07

Wow. People were bemoaning the loss of retail (Express, J Crew etc) on this block on other forums. But sounds like the owner was likely just pushing them out in preparation for a new concept. I think this will be better suited for it. The facade doesn’t have a whole lot of curb appeal for retail anyways so something that livens it up will be good for the area. Good to know that just because a is store closing doesn’t necessarily mean it’s a bad thing. Could mean other opportunities.

Why would anybody bemoan J. Crew and Express essentially just moving? J. Crew moved to Walnut Street and Express moved to the Fashion District.... so we really didn't lose either of these retailers. I'm super happy to see the new tenant coming in! Sounds like it'll be a big hit in Center City.

[summersm343]

Intercultural Family Services breaks ground on new HQ in West Philadelphia

Intercultural Family Services Inc. has moved forward with the construction of a 148,000-square-foot mixed-use development in West Philadelphia, a portion of which will serve as its new headquarters.

The seven-story building at 4254 Chestnut St. is the culmination of decades of dedication to its mission, long-term planning and investment in real estate in an area of the city that has received an increasing amount of attention from developers.

Formed in 1979 as a small organization to initially tend to a growing number of Southeast Asian refugees arriving in Philadelphia, Intercultural expanded into other social services including operating behavioral health centers and providing mental health support. Over time, the nonprofit acquired properties in the Philadelphia communities it served including 4225 Chestnut St., where it now has its headquarters in about 27,000 square feet, and 4252-56 Chestnut St.

“It was a long, well-thought-out strategy for long-term viability and Intercultural is benefitting from market forces,” said Michael Kellerman, Intercultural Family Services' interim CEO. “Every piece of land in that part of West Philadelphia is being turned into apartments and those market forces are helping us.”

The organization sold 4252-56 Chestnut to Philadelphia-based Red Rocks Group for an undisclosed amount. The nonprofit struck an arrangement with the developer to build Intercultural a new 36,000-square-foot headquarters and area to provide behavioral health and prevention services on the first two floors. That space would be carved out into a separate condominium, and Red Rocks is developing 128 apartments on the remaining five stories that would serve Intercultural clients.

As for its current headquarters at 4225 Chestnut, Intercultural will vacate the space once the new building is completed and then the organization will figure out that property’s future.

Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=8#cxrecs_s

[Philly Fan]

Originally Posted by mcgrath618

Why does this article claim that a clearly 4 story building is 8 stories?

Because it takes a certain kind of artistic vision and design insight to see those additional 4 stories which, well, you obviously don't have.

[summersm343]

Tishman Speyer venture proposes new life sciences building at 2300 Market St. in Center City

A venture between Tishman Speyer, a New York real estate firm, and Bellco Capital, a Los Angeles investor in life sciences companies, has acquired 2300 Market St. in Center City and plans to develop it into 200,000 square feet of life sciences space.

The partnership, Breakthrough Properties, bought three structures that housed the culinary school for the Arts Institute of Philadelphia from an entity affiliated with Lubert-Adler. The project will serve as Breakthrough’s first life sciences development in Philadelphia though the company is planning more. Aside from Philadelphia, it has 4.6 million square feet of life sciences projects in the works in key markets including San Diego, Boston, Amsterdam and Cambridge, United Kingdom.

Tishman has a presence in the Philadelphia suburbs. It owns several office buildings in Bala Cynwyd, where it plans to undertake a multiyear, mixed-used development.

D2 Capital Advisors assisted Breakthrough with site selection and is its financing advisor for the project. Philadelphia architecture firm KieranTimberlake designed the building. Cushman & Wakefield will serve as leasing agent.

Article behind paywall here:
https://www.bizjournals.com/philadel...ladelphia.html

[skyhigh07]

Originally Posted by summersm343

Why would anybody bemoan J. Crew and Express essentially just moving? J. Crew moved to Walnut Street and Express moved to the Fashion District.... so we really didn't lose either of these retailers. I'm super happy to see the new tenant coming in! Sounds like it'll be a big hit in Center City.

Just people who are behind on what’s in the retail pipeline. They see a post on Facebook about another store closing without any context of what might replace it. And admittedly the vacancy situation on Walnut isn’t great right now if you were just to walk down it. And they’re not on Skyscraperpage which has the best retail scoops

[summersm343]

Originally Posted by skyhigh07

Just people who are behind on what’s in the retail pipeline. They see a post on Facebook about another store closing without any context of what might replace it. And admittedly the vacancy situation on Walnut isn’t great right now if you were just to walk down it. And they’re not on Skyscraperpage which has the best retail scoops

I agree it doesn't look great, especially the 1700 block, however most of the for lease signage on Walnut Street have "Leased" stickers up on them now. So, anyone concerned should be able to walk down Walnut today and realize there's a bunch of new stores about to open.

[summersm343]

Walnut Street

J. Crew is open
Next to J. Crew will be Outdoor Voices
Next to Outdoor Voices will be Aritzia
Next to Ariztia will be the new Madewell

Saatva will be opening in the old Wells Fargo space...... while technically a "luxury mattress" brand, I'd hardly call this a "significant retailer" as I was told. Still working on a lease for a restaurant tenant on the second and third floors of this building.

Rescue Spa will go into the old Barney's New York space.

Brooklinen will go in the old Aldo space.

Vans will go into the State & Liberty space.

Gorjana signage up for the old For Eyes space.

Rumored FP Movement going in the old Free People space.

Free People going in the old Jack Wills space.

Faherty going in the old Cole Haan Space.

Joybird going in the old Champion space.

State & Liberty going into the old Barbour space.

I think that's all the Walnut Street updates for now.

[PHLJD13]

Originally Posted by summersm343

Why would anybody bemoan . . . Express essentially just moving? . . . Express moved to the Fashion District.... so we really didn't lose either of these retailers.

The Fashion District has an Express Factory Outlet with made-for-outlet merchandise of substantially lower quality, and a much smaller footprint. Express has pulled out of the Philadelphia-proper market. Still not a loss to bemoan; I don't think of it as a hot label like in the early '00s.

But yes, I am excited the vacant stretch of store fronts on Chestnut Street has landed a trendy new concept!

[jaysb]

Originally Posted by summersm343

Tishman Speyer venture proposes new life sciences building at 2300 Market St. in Center City





Article behind paywall here:
https://www.bizjournals.com/philadel...ladelphia.html

Nice, Tishman seems to be a good owner from my work dealings with them in NY. Granted we don't (yet) have a carbon emission like NYC local law 97 but they seem to be on the front foot when it comes to design and environmental responsibility.

[summersm343]

Originally Posted by PHLJD13

The Fashion District has an Express Factory Outlet with made-for-outlet merchandise of substantially lower quality, and a much smaller footprint. Express has pulled out of the Philadelphia-proper market. Still not a loss to bemoan; I don't think of it as a hot label like in the early '00s.

But yes, I am excited the vacant stretch of store fronts on Chestnut Street has landed a trendy new concept!

Yeah, whatever LOL. I stopped shopping at Express in college. I do actually like J. Crew though for causal wear, so happy they're sticking around.

[summersm343]

Topgolf readies to open Northeast Philadelphia location, turns sights to King of Prussia

The first Topgolf venue in the city is set to open Friday on Roosevelt Boulevard in Northeast Philadelphia.

Topgolf locations feature an interactive driving range with climate-controlled bays, a full food and bar menu, live music and event space. In Philadelphia, the three-level venue has 102 hitting bays that can be reserved up to seven days in advance or accessible via walk-in. It sits on 27 acres of land at the former site of a Nabisco and Mondelēz International factory at 12000 Roosevelt Blvd.

This is the second Topgolf location in Pennsylvania, with the other located in Pittsburgh. There are over 70 locations across the country, including one in Mount Laurel, New Jersey.

The Dallas golf and entertainment company, acquired by Callaway Co. (NYSE: ELY) last March, is also planning a location in King of Prussia. Construction on the 48.5-acre project at 588 N. Gulph Road is set to begin in the first week of June, with an anticipated opening in summer 2023, according to a Topgolf spokesman.

Article behind paywall here:
https://www.bizjournals.com/philadel...phia-open.html

[City Wide]

Originally Posted by jaysb

Nice, Tishman seems to be a good owner from my work dealings with them in NY. Granted we don't (yet) have a carbon emission like NYC local law 97 but they seem to be on the front foot when it comes to design and environmental responsibility.

I'm glad to see it's an overbuild and no attempt to tear down the corner building, but this design is about as basic as one can get, outside of a glass box. On this drawing it looks like the architect was trying to be cute by adding a touch of an angle on the front. Wow, bless them! I'm hoping this drawing is just to show context and scale and the real building might have some real design to it.

[Raja]

Originally Posted by City Wide

I'm glad to see it's an overbuild and no attempt to tear down the corner building, but this design is about as basic as one can get, outside of a glass box. On this drawing it looks like the architect was trying to be cute by adding a touch of an angle on the front. Wow, bless them! I'm hoping this drawing is just to show context and scale and the real building might have some real design to it.

I beg to differ. The bowtie footprint, the way the fins taper at the bottom and the top, the red underside... if these details make it to the final, I think it'll look great. A crisp design with subtle flourishes is exactly the kind of overbuild these two gorgeous but completely different buildings call for.

[skyhigh07]

Originally Posted by Raja

I beg to differ. The bowtie footprint, the way the fins taper at the bottom and the top, the red underside... if these details make it to the final, I think it'll look great. A crisp design with subtle flourishes is exactly the kind of overbuild these two gorgeous but completely different buildings call for.

I agree. If executed well, it should in the upper tier of the most attractive newer mid rise buildings in the city.

[summersm343]

I also think this is a superb design

[3rd&Brown]

Originally Posted by Raja

I beg to differ. The bowtie footprint, the way the fins taper at the bottom and the top, the red underside... if these details make it to the final, I think it'll look great. A crisp design with subtle flourishes is exactly the kind of overbuild these two gorgeous but completely different buildings call for.

Agreed. I think it's fresh and modern without being overdone.

I also think it's a long overdue evolution to Kieran Timberlake's tired vertical panel and windowed look which was fresh for two years then they rode for a decade into irrelevance.

[TonyTone]

Originally Posted by summersm343

Long Blighted Building at 18th & Delancey Finally Coming Back?

Current home:



Planned rehab:





Read/view more here:
https://www.ocfrealty.com/naked-phil...ly-coming-back

Any Reason for the lack of windows on the side? Is that a party wall? I thought party walls were only in-between two buildings.

[PurpleWhiteOut]

Originally Posted by TonyTone

Any Reason for the lack of windows on the side? Is that a party wall? I thought party walls were only in-between two buildings.

My guess is because this property falls in the Rittenhouse historic district and it is restored the fenestrations that are already present. According to the sketch in the article, it originally didn't have any side windows either (including the tiny one currently there). There are chimneys on that wall so maybe it was built as a more structural wall

[allovertown]

Originally Posted by City Wide

I'm glad to see it's an overbuild and no attempt to tear down the corner building, but this design is about as basic as one can get, outside of a glass box. On this drawing it looks like the architect was trying to be cute by adding a touch of an angle on the front. Wow, bless them! I'm hoping this drawing is just to show context and scale and the real building might have some real design to it.

To each their own I guess. I think the design is incredible. Not just one of my favorite proposals to come down the pipeline in philly in the past few years, this is one of my favorite overbuilds, period, that I've seen anywhere. Hope the reality of what is built hits the right notes.

[PurpleWhiteOut]

Originally Posted by City Wide

I'm glad to see it's an overbuild and no attempt to tear down the corner building, but this design is about as basic as one can get, outside of a glass box. On this drawing it looks like the architect was trying to be cute by adding a touch of an angle on the front. Wow, bless them! I'm hoping this drawing is just to show context and scale and the real building might have some real design to it.

I actually agree with you. I think it looks good, but I personally don't think it interacts with the old facades in any meaningful way proportionally. Maybe I'll feel differently in person, but I actually prefer the original design, although it doesn't suit the change in use. It just looks like they made a project and would rather the original buildings have nothing to do with it