PHILADELPHIA-CAMDEN-WILMINGTON-ATLANTIC CITY-READING | Metro Development Thread

[summersm343]

Upper Darby mayor is pursuing an ambitious agenda to make the town cleaner, greener, and more walkable

Read/view more here:
https://www.inquirer.com/real-estate...-20210318.html

[summersm343]

Originally Posted by Justin7

Gotcha.

Don't suppose anyone knows of a forum with less of a laser focus on tall buildings that allows for more general discussion on philly urbanism?

I totally understand this place is called SkyscraperPage and that's what a lot of people are primarily interested in.

What do you mean? There's a lowrise/midrise/general developments thread for Philadelphia, where you can and we do talk about a lot of things going on in Philly under 12-floors, parks, bike lanes, so on and so forth. Is that what you're looking for, or are you looking for something else in particular?

PHILADELPHIA | Lowrise/General Developments Thread
https://skyscraperpage.com/forum/sho...d.php?t=160247

[TonyTone]

Hey Summers can we split the Wilmington Thread into its own thing now? or should we wait for some more action?

[summersm343]

Originally Posted by TonyTone

Hey Summers can we split the Wilmington Thread into its own thing now? or should we wait for some more action?

I like keeping it as one "Metro" thread. If Wilmington suddenly becomes "boom city" with 10+ highrises proposed, we can consider it.... but for now, let's leave it as is.

[TonyTone]

Originally Posted by summersm343

I like keeping it as one "Metro" thread. If Wilmington suddenly becomes "boom city" with 10+ highrises proposed, we can consider it.... but for now, let's leave it as is.

I agree with you

[TonyTone]

In other news for Wilmington

Mayor Purzycki Proposes a Fiscal Year 2022 Operating Budget and Water/Sewer Budget During Annual State of the City Address




City Progress: Much for Which to be Proud
Mayor Purzycki said that as we reflect on 2020 and look forward to 2021 there is much to be optimistic about. He noted that the government has laid a solid foundation for Wilmington’s future. Private investment, he noted, has approached one billion dollars over the past four years with much more to come. The Mayor said thousands of apartment units are being built and occupied by new and current residents, thereby stabilizing our crucially important wage tax revenue. Restaurants are opening throughout the City. Three new hotels have opened, and new ones are being proposed. “Your City government has invested $40 million in infrastructure. Twenty-six additional miles of City streets have been paved. Eleven million dollars was invested in parks, community centers, and public spaces. Moody’s improved the status of the City’s bond rating by removing a negative outlook. We have not had to raise taxes in the last three years while our cash balances have improved. And while the pandemic has presented challenges to our revenues in the short term, our long-term outlook gives us reason for cautious optimism. In short, we have laid the foundation for growth—if and only if we choose the path forward wisely.”

Neighborhood Stabilization: Let’s Rebuild and Develop our Communities
Mayor Purzycki said tonight that before there was any mention of federal relief, he was prepared to ask Council to budget $5 million to improve housing in City neighborhoods. “Now I think we have an opportunity to use some of the American Rescue Plan funds to provide even more resources to this effort. Therefore, I will set aside as part of our redevelopment effort, to the greatest extent possible, money to help homeowners improve the homes they have lived in for many years and in which they raised their families. At long last, we will have the resources to demolish many vacant houses that are not salvageable and whose presence ruins neighborhoods. And lastly, we will commit to rebuilding and redeveloping areas of the city that have been without any hope of progress for far too long.”

Housing Code Reform: Thank You for Standing Up for Tenants
Mayor Purzycki noted tonight in his address that half of the residential dwellings in Wilmington are owned by investor/landlords, which, he said, is in large measure why neighborhoods are not adequately maintained. “Too many investors don’t seem to care enough about maintaining their properties or about their tenants. This Council took its first brave step in rewriting our laws governing rental housing. Over the scare tactics and fear mongering of some landlords, this Council recognized the importance of giving us the tools to effectively enforce our housing codes and to protect our economically vulnerable citizens. Someday we will all look back on this significant change and wonder what all the opposition was about. Thank you to the Council members who supported this significant and important protection for tenants. If we are going to transform Wilmington’s neighborhoods, however, the landlords must be a part of the solution. I look forward to engaging with them on how they can assist in strengthening the City.”

Key Notes from this.

No property tax increase and no reduction in City services is proposed despite a projected $5.6 million COVID-related deficit due to declining revenue; water/sewer fees will increase by 3% and stormwater by 2%

Private investment, he noted, has approached one billion dollars over the past four years with much more to come.

The Mayor said thousands of apartment units are being built and occupied by new and current residents, thereby stabilizing our crucially important wage tax revenue. Restaurants are opening throughout the City. Three new hotels have opened, and new ones are being proposed. “Your City government has invested $40 million in infrastructure. Twenty-six additional miles of City streets have been paved. Eleven million dollars was invested in parks, community centers, and public spaces. Moody’s improved the status of the City’s bond rating by removing a negative outlook. We have not had to raise taxes in the last three years while our cash balances have improved.

Neighborhood stabilization and development funding of $5 million to be set aside to preserve and improve our neighborhoods, along with the possible use of additional funds for neighborhood improvements from federal American Rescue Plan

neighborhood stabilization and development funding of $500,000 to support the work of the Wilmington Neighborhood Conservancy Land Bank

additional park improvements for more City facilities, which are in addition to the $40 million spent in the past few years to rehabilitate the City’s park and recreation system

a call for Wilmington to lead the effort to improve the education of City children and to support a future traditional City high school. The Mayor said a high school in Wilmington will serve as the anchor for young peoples’ healthy identity and self-image and become a cultural activity center as well as a community support system.

[summersm343]

Delaware County's Riddle Hospital reaches key milestone for $327M campus modernization project

Read/view more here:
https://www.bizjournals.com/philadel...Pos=3#cxrecs_s

[summersm343]

West Coast retailer joining Amazon, Solo cup maker in Delaware Logistics Park near Delaware City

Read/view more here:
https://www.delawareonline.com/story...ty/4802089001/

[Nova08]

It keeps rolling...

More Philadelphia-area life sciences firms planning multimillion-dollar public stock offerings
https://www.bizjournals.com/philadel...-offering.html

Philadelphia gene therapy developer spun out of Temple to raise over $100M via SPAC
https://www.bizjournals.com/philadel...rdan-spac.html

Chester County gene therapy developer closes $41.9M funding round
https://www.bizjournals.com/philadel...tal-heart.html

Montgomery County biopharma firm led by former J&J exec raises $20M in equity
https://www.bizjournals.com/philadel...-peptides.html

1. Verrica Pharmaceuticals (NASDAQ: VRCA), a dermatology therapeutics company based in West Chester, is seeking to raise about $30 million
2. Windtree Therapeutics (NASDAQ: WINT) of Warrington, a biotechnology and medical device company working on treatments for acute cardiovascular and pulmonary disorders, also disclosed plans for a $30 million public stock and warrants offering
3. PhaseBio (NASDAQ: PHAS) of Malvern on Monday said it completed a $64.4 million public stock offering
4. Philadelphia-based gene therapy developer Renovacor, a spin out of Temple University, has agreed to merge with a special purpose acquisition company, or SPAC....The combined company will receive gross proceeds of up to $116 million.
5. A Chester County gene therapy company working on a treatment for patients with cardiovascular diseases has raised $41.9 million in venture capital funding.
6. Tavotek Biotherapeutics, a biopharmaceutical company with operations in Montgomery County and China, said Monday it has raised $20 million through a series of two private stock sales.

[summersm343]

Indiana park operator buys Clementon Park for $2.3 million

The owners of an Indiana amusement park purchased bankrupt Clementon Park and Splash World at auction Tuesday and vowed to continue operating the 114-year-old facility that shut down in 2019.

“They have indicated they plan to reopen later this year,” Bill Firestone, the president of Capital Recovery Group (CRG), which conducted the auction, said Wednesday.

Indiana Park Holdings LLC, which operates Indiana Beach Amusement and Water Park, paid $2.37 million for the 52-acre lakeside site in South Jersey, according to a CRG news release.

That price for the park in its entirety — its lake, liquor license and rides — surpassed the total bid by several other entities on Clementon’s individual assets, Firestone said.

Read/view more here:
https://www.inquirer.com/business/cl...-20210325.html

[TonyTone]

Ok so couple of Updates from Wilmington, just drove through yesterday and here are some pics.

Of course this is still here, hopefully another restaurant will be built or maybe a store?



Work has begun on the old Joes crab shack, I was gonna ask a worker that was out there when they plan to reopen the new restaurant but my allergies were acting up and I didn't wanna give a corona scare.







Lots around the riverfront for staging



People in hardhats, vests, button up shirts and expensive cars? That means important business is happening







More staging, do we have some more projects coming about?

Putting on the "JAWN" signal.

JAWNNNNN!!!!

[Urbanthusiat]

New $28M townhouse project to rise along Conshohocken riverfront

These will sell quickly no doubt.

[jonesrmj]

I'm surprised that this has never been posted here, but apparently there have been proposals since 2004 to build a park and other construction projects on a cap over I-95 to reconnect the city blocks on each side of the interstate. According to these articles, lawmakers have recently appealed to feds for the I-95 cap to reunite the city.

As more than two years of construction work on I-95 through Wilmington nears the end of its first month, a group of site lawmakers from the city say now is the perfect time to think about undoing the damage done to city neighborhoods when the interstate was first built more than 50 years ago.

State Rep. Sherry Dorsey Walker is leading the charge to convince U.S. Transportation Secretary Pete Buttigieg — and by proxy President Biden — to endorse a plan to put a roof on top of I-95 and build an urban park on top.

“That highway created a bit of a divide,” she said. “One of the things that [Buttigieg] talked about, he stressed it while he was on the campaign trail, is rebuilding communities that were literally torn down or endured great hardships when the highway went right through the community.”

https://whyy.org/articles/wilmington...nite-the-city/
https://www.delawareonline.com/restr...F4702276001%2F

[TonyTone]

^^ Has been proposed since before that as well.

Hopefully we will get funding for it. looks like we may get funding for it and the whole area will get capped not just two blocks.

This will also bring more development and boom to Wilmington and downtown.

[summersm343]

Originally Posted by jonesrmj

I'm surprised that this has never been posted here, but apparently there have been proposals since 2004 to build a park and other construction projects on a cap over I-95 to reconnect the city blocks on each side of the interstate. According to these articles, lawmakers have recently appealed to feds for the I-95 cap to reunite the city.



https://whyy.org/articles/wilmington...nite-the-city/
https://www.delawareonline.com/restr...F4702276001%2F

This would be amazing!

[Jawnadelphia]

I've been following the Wilmington 95-cap idea for awhile. It's always been a long shot, but if it were ever to happen, now would be the time with Papa Biden (the DE OG, Wilmington's own) occupying 1600 Pennsylvania Avenue. If you care about this issue and Wilmington as whole, I can not recommend enough, Professor Carol E. Hoffecker's book, "Corporate Capital Wilmington in the Twentieth Century"--the chapter on the I-95 fiasco will make you red-in-the-face.
As far as the new I-95 cap appeal, it is being led by new State Senator Sarah McBride, which could be key for a few reasons. One, she was very close and worked for Beau Biden, and Joe supports her 110%. Two, everyone knows she wants to be the "next" Delaware politician... as the first trans-gender State Senator in US history, national media attention, ...she won't be a State Senator for very long. If she were able to spearhead a massive public works project such as capping I-95 in Wilmington under the Biden "Build Back Better" infrastructure plan, ...we might be calling her US Senator from Delaware very soon.

[domodeez]

deleted

[TonyTone]

Originally Posted by Jawnadelphia

I've been following the Wilmington 95-cap idea for awhile. It's always been a long shot, but if it were ever to happen, now would be the time with Papa Biden (the DE OG, Wilmington's own) occupying 1600 Pennsylvania Avenue. If you care about this issue and Wilmington as whole, I can not recommend enough, Professor Carol E. Hoffecker's book, "Corporate Capital Wilmington in the Twentieth Century"--the chapter on the I-95 fiasco will make you red-in-the-face.
As far as the new I-95 cap appeal, it is being led by new State Senator Sarah McBride, which could be key for a few reasons. One, she was very close and worked for Beau Biden, and Joe supports her 110%. Two, everyone knows she wants to be the "next" Delaware politician... as the first trans-gender State Senator in US history, national media attention, ...she won't be a State Senator for very long. If she were able to spearhead a massive public works project such as capping I-95 in Wilmington under the Biden "Build Back Better" infrastructure plan, ...we might be calling her US Senator from Delaware very soon.

That’s actually great news that means we have a chance of this getting done.

Also I don’t under how our cap would cost more when the whole area that Philly is capping on I-95 could cap that whole sunken portion of I-95 from 5th st to Delaware Ave.

Connecting the city will really help that area the Hilltop is already in good condition however “Down bottom” can use the help & by help this does not mean gentrifying & pushing those residents out but finally fixing the area up & providing some more.

Also Jawn I drove by the old Gold club today & noticed it has been bought & one of the yellow construction signs was out front! Any idea of what’s happening or are we getting our Strip club Establishment back.

Interesting, Looks like a gas station is being built with a fast food restaurant. Kind of a bad choice if you ask me, but its kinda hard in that area with the motel next door.

https://www3.newcastlede.gov/PDFDocu...973&x=temp.pdf

[summersm343]

10 South Bryn Mawr Avenue - Bryn Mawr, PA

Plenty of Rendering in the link below. Looks great!
https://www.bernardon.com/project/10...x=buildingtype

[PHLtoNYC]

Originally Posted by summersm343

10 South Bryn Mawr Avenue - Bryn Mawr, PA

Plenty of Rendering in the link below. Looks great!
https://www.bernardon.com/project/10...x=buildingtype

Really nice high quality looking building. Is this officially a go?