PHILADELPHIA | Highrise Development Thread X

[PHLtoNYC]

Originally Posted by Nova08

Philadelphia, Pacific Northwest See Surge in Biopharma Jobs
https://www.biospace.com/article/ore...arket-booming/

Awesome news, and on track to match or beat 2020 life sciences investment totals. The future of Philadelphia.


Building off life sciences, article in the Inquirer today. A growing tech firm is attracting attention from large companies like LinkedIn, and chose Philadelphia to open shop a few years ago, over New York and Boston.

Quote from the CEO:

"Why here? Kaufman laughed: “Everyone says, ‘Oh, you have a tech company in Philly, you must be from here? Or is your wife?’ It’s like in Philly, the main industry must be raising kids, right?"

“But really, New York City was not a place our executives could afford to live. And the tech talent market is incredibly tight in New York. Philadelphia was the obvious choice: more colleges than Boston. So many millennials, more than anywhere, right? The suburbs are close. There’s a low cost of living. A real airport. And you’re near enough to New York. So we picked Philly on merit.”

Still irritating that many people think Philadelphia has nothing to offer (even if Tech isn't the strongest sector), but its good to see the CEO snap back and reiterate why Philadelphia is a great choice.

Let hope the momentum continues for life sciences and tech!


Philly-based Piano turns LinkedIn executives into fans

https://www.inquirer.com/business/pi...-20210518.html

[summersm343]

Originally Posted by Nova08

Philadelphia, Pacific Northwest See Surge in Biopharma Jobs
https://www.biospace.com/article/ore...arket-booming/

This is huge! We need to get on City Council, the Mayor, the Governor and the state government to capitalize on this NOW. If so, we have a real opportunity to be the leader in the Life Sciences Sector moving forward.

[summersm343]

Conversion Work Underway At The Terrace On 18th Street In Logan Square

Rendering:


Progress:


Read/view more here:
https://phillyyimby.com/2021/05/cove...nter-city.html

[TempleGuy1000]

Dechert can get second helping of KOZ tax credits in move, Pennsylvania Supreme Court rules

Looks like we got ourselves the first anchor of a Schuylkill Yards skyscraper!

[Urbanthusiat]

Originally Posted by TempleGuy1000

Dechert can get second helping of KOZ tax credits in move, Pennsylvania Supreme Court rules

Looks like we got ourselves the first anchor of a Schuylkill Yards skyscraper!

This might be good for Schuylkill Yards getting out of the ground, but I think this is a bad precedent. The state legislature should close this loophole (not holding onto hope for that to happen though). We don't want companies bouncing around KOZ's every 15 years to avoid paying taxes.

[summersm343]

Originally Posted by TempleGuy1000

Dechert can get second helping of KOZ tax credits in move, Pennsylvania Supreme Court rules

Looks like we got ourselves the first anchor of a Schuylkill Yards skyscraper!

Let's do it!

[summersm343]

CDR Submissions are up for June. Nothing too exciting this time though!

https://www.phila.gov/departments/ph...blic-meetings/

[TempleGuy1000]

Originally Posted by Urbanthusiat

This might be good for Schuylkill Yards getting out of the ground, but I think this is a bad precedent. The state legislature should close this loophole (not holding onto hope for that to happen though). We don't want companies bouncing around KOZ's every 15 years to avoid paying taxes.

I agree it does not create a great precedent. Brandywine obviously does not mind since they are basically just shuffling their tenant from one building to another, but that's like a best case scenario (outside of the loss tax revenue for the city, which is a whole different debate about the usefulness of the KOZs to begin with). I could see a scenario where a property owner or town really gets burned by this.

[3rd&Brown]

Originally Posted by summersm343

CDR Submissions are up for June. Nothing too exciting this time though!

https://www.phila.gov/departments/ph...blic-meetings/

Agree.

But it's nice to see relatively high quality development moving into parts of the city that don't normally see it. Namely, Tuplehocken Place in Germantown and the Grant Avenue townhome development. The latter are much nice homes than many in that area.

[SEFTA]

I don't know if any of you follow Peter Santenello, he has a visit to Philadelphia that is very good.

youtube.com/watch?v=fsg4mEy72Mk&t=175s

[summersm343]

East Market Clone Coming to Southern Northern Liberties?

National Real Estate Development is the developer responsible for East Market- and even though that project is still ongoing, they’re setting their sights on their next Philadelphia site. In a similar fashion to what they did in Market East, this developer is looking to a well located section of the city which is, for whatever reason, dramatically underused. The area in question is the western side of 2nd Street, between Callowhill and Spring Garden Streets. This stretch is used for industrial and commercial purposes, but given its proximity to Old City and Northern Liberties, along with the fact that it’s easily accessible to all the local highways, it should be used for higher and better purposes. And lo, that’s just what these developers are looking to do.

2nd & Spring Garden


2nd & Willow


Per the Philadelphia Business Journal, National has purchased four properties on this stretch from Arts + Crafts Holdings, but the article doesn’t go into detail on exactly what they’re planning to do. Next week though, Northern Liberties Neighbors Association will have a community meeting, and two huge projects will come to the community for informational purposes, ahead of Civic Design Review. Unfortunately, we don’t yet have drawings or all the specifics to share, but we can offer some general information.

At the southwest corner of 2nd & Spring Garden, the plans call for a 14-story building with 355 units and 105 parking spots. At 412 N. 2nd St., look for a 23-story building with 397 units and 106 parking spots. There may yet be future phases as well. In many ways, this feels like it will be a pared down East Market project, but on the western side of 2nd Street in the southern part of Northern Liberties. Ooh, that’s all four compass directions in one sentence. Gold star for us.

Read/view more here:
http://www.ocfrealty.com/naked-phill...hern-liberties

[Philly Fan]

Originally Posted by SEFTA

I don't know if any of you follow Peter Santenello, he has a visit to Philadelphia that is very good.

youtube.com/watch?v=fsg4mEy72Mk&t=175s

Thanks! Great video, and I shared it with some others. Interesting read through the comments, by the way. Lots of folks from around the country and the world expressing similar surprise at how nice Philly really is, whether through this video or from actual visits. And of course, a few of the usual (and generally uninformed) negative comments.

[Philly Fan]

Originally Posted by summersm343

Southern Northern Liberties

Talk about an oxymoron!

[TonyTone]

Originally Posted by Philly Fan

Talk about an oxymoron!

Lmao the exit sign on 95 LITERARILY says Callowhill I don't know how or why they are gonna try to rename the area but I assume it will bring in more Transplants.

Whats funny about this area is I usually see more business men/women on dates on 2nd & Spring Garden compared to Kensington ave/Fishtown area where we will see the yippies in beanies and skateboard types.

It's only a couple block difference.

[PurpleWhiteOut]

Originally Posted by TonyTone

Lmao the exit sign on 95 LITERARILY says Callowhill

I mean doesn't it exit to Callowhill St specifically? I don't think it's in reference to the neighborhood. Callowhill the neighborhood is west of here near Ridge imo. Just like the Spring Garden El stop is for spring garden st, but that's not the spring garden neighborhood.

[ScreamShatter]

Southern Northern Liberties? Wonder if they’ll abbreviate it as SoNo? Or why not do a DUMBO thing and call it BOCAN “Between Old City and NoLibs”? Lol.

[El Duderino]

Originally Posted by ScreamShatter

Southern Northern Liberties? Wonder if they’ll abbreviate it as SoNo? Or why not do a DUMBO thing and call it BOCAN “Between Old City and NoLibs”? Lol.

Wouldn’t you know it, that Target right here is part of a development called SoNo: https://billypenn.com/2017/08/10/son...borhoods-name/

[summersm343]

I'm fine with calling this area SoNo, and creating a new neighborhood, but this is not Northern Liberties in my opinion.

[R5Ryder]

Originally Posted by El Duderino

Wouldn’t you know it, that Target right here is part of a development called SoNo: https://billypenn.com/2017/08/10/son...borhoods-name/

Just read that article and was about to send to a friend who lives in No Libs for her opinion... then realized it was nearly 4 years old!

[3rd&Brown]

Originally Posted by summersm343

I'm fine with calling this area SoNo, and creating a new neighborhood, but this is not Northern Liberties in my opinion.

Well it's a part of the original Northern Liberties (township) and is in the Northern Liberties RCO.