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

[EastSideHBG]

Originally Posted by UrbanRevival

The migration trend comes as a surprise to no one, but still very interesting that the difference between Philly's local vs. transplant housing budgets is the greatest in the US and that remote work is such a big factor:



https://www.redfin.com/news/migrant-...g-budget-2022/

This is what has been destroying other cities e.g. Miami and I have concerns about how this will play out. But one thing to consider is that life is slowly returning to "normal" so some of these people may realize that they liked where they came from better (but if they bought property and hang on to it to rent it out, this won't help the situation much).

This was interesting also:

Three-quarters of millennials living in Philly grew up nearby, per a new census study

People with wealthier parents were more likely to leave the Philadelphia region.
https://billypenn.com/2022/07/27/mil...rk-new-jersey/

[Justin7]

Originally Posted by EastSideHBG

This is what has been destroying other cities e.g. Miami and I have concerns about how this will play out.
https://billypenn.com/2022/07/27/mil...rk-new-jersey/

Yeah, stay away people with money!

[EastSideHBG]

Originally Posted by Justin7

Yeah, stay away people with money!

We don't need to make the same mistakes other places are making. It's a complex issue and yes can be hard to control but we could at least try.

[mcgrath618]

Originally Posted by EastSideHBG

We don't need to make the same mistakes other places are making. It's a complex issue and yes can be hard to control but we could at least try.

All you need do is look at other cities that tried to control it via Rent Control and other well-meaning but ill-conceived programs to realize that it's probably in a city's best interest to just accept the influx of high-earning taxpayers and just try to influence the movement of people.

Build dense around transit. That lets you keep rent and property taxes down elsewhere for single family homes. Embrace that people want to move into the city and just try and minimize its negative effects, rather than fighting it.

[EastSideHBG]

Originally Posted by mcgrath618

All you need do is look at other cities that tried to control it via Rent Control and other well-meaning but ill-conceived programs to realize that it's probably in a city's best interest to just accept the influx of high-earning taxpayers and just try to influence the movement of people.

Build dense around transit. That lets you keep rent and property taxes down elsewhere for single family homes. Embrace that people want to move into the city and just try and minimize its negative effects, rather than fighting it.

Yes, rent control may not be the best idea but it wouldn't hurt to build more low-middle income developments. And your second statement would be helpful also.

[PHLtoNYC]

Exelixis Inc. in negotiations for new King of Prussia office-lab complex amid 'ambitious expansion plans'

https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

Exelixis Inc., an Alameda, California, biotechnology company, is in negotiations with Brandywine Realty Trust to have the real estate company develop a new 200,000- to 250,000-square-foot building in King of Prussia.

The complex would be constructed at 650 and 651 Park Ave. Half of the space would be offices while the other half would be labs.

Exelixis (NASDAQ: EXEL) anticipates more than 600 employees to eventually work from the Park Avenue complex. The biotech company said that an agreement with Brandywine had yet to be reached on the development and that the timing and planning for it is underway.

[mcgrath618]

Originally Posted by PHLtoNYC

Exelixis Inc. in negotiations for new King of Prussia office-lab complex amid 'ambitious expansion plans'

https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

Exelixis Inc., an Alameda, California, biotechnology company, is in negotiations with Brandywine Realty Trust to have the real estate company develop a new 200,000- to 250,000-square-foot building in King of Prussia.

The complex would be constructed at 650 and 651 Park Ave. Half of the space would be offices while the other half would be labs.

Exelixis (NASDAQ: EXEL) anticipates more than 600 employees to eventually work from the Park Avenue complex. The biotech company said that an agreement with Brandywine had yet to be reached on the development and that the timing and planning for it is underway.

Ugh. If I interviewed with any company and they told me I'd be working out of KOP I'd immediately leave the interview.

[PHLtoNYC]

Originally Posted by mcgrath618

Ugh. If I interviewed with any company and they told me I'd be working out of KOP I'd immediately leave the interview.

I'm still happy they chose the region over Boston, but I thought the same thing when I read this.

250k square feet in U City would result in another large building. I don't see how KoP is any more central than Philadelphia.

[mcgrath618]

Originally Posted by PHLtoNYC

I'm still happy they chose the region over Boston, but I thought the same thing when I read this.

250k square feet in U City would result in another large building. I don't see how KoP is any more central than Philadelphia.

Life sciences companies are signing to lease space in University City left and right... except at Schuylkill Yards. I guess that factory going up at 30th and Chestnut counts but other than Spark who has been in the area for ages, I haven't heard of any big tenants signing to lease space at Schuylkill Yards. I will ask again, what is Brandywine doing?????

[DeltaNerd]

Originally Posted by PHLtoNYC

I'm still happy they chose the region over Boston, but I thought the same thing when I read this.

250k square feet in U City would result in another large building. I don't see how KoP is any more central than Philadelphia.

I wonder this is KOP giving very favorable tax breaks and credits just to justify the KOP rail. Which still why KOP?

[Scottydont]

Life sciences companies are scattered throughout the Philadelphia region, not just in the city proper. Shouldn't really be a surprise they don't automatically pick Uni City

[UrbanRevival]

Originally Posted by Scottydont

Life sciences companies are scattered throughout the Philadelphia region, not just in the city proper. Shouldn't really be a surprise they don't automatically pick Uni City

Exactly, not to mention any company that chooses to locate/expand in the metro area is a win for strengthening the ecosystem of the local life sciences sector and its competitiveness. On a broad scale, this kind of expansion is fantastic for Greater Philadelphia.

[PHLtoNYC]

Originally Posted by DeltaNerd

I wonder this is KOP giving very favorable tax breaks and credits just to justify the KOP rail. Which still why KOP?

Montgomery County in general is a favorable tax environment.
This conversation has been had... love it or hate it KoP / Upper Merion (and nearby Wayne & Radnor) are major employment hubs. Though disappointing some business choose them over U City...

1. This company could have chosen Boston, so it's as a win for the region to land a new growing company.

2. It is healthy for the Philadelphia region to have multiple economic hubs, KoP being one of them, (although U City is more central IMO).

[mcgrath618]

Originally Posted by PHLtoNYC

Montgomery County in general is a favorable tax environment.
This conversation has been had... love it or hate it KoP / Upper Merion (and nearby Wayne & Radnor) are major employment hubs. Though disappointing some business choose them over U City...

1. This company could have chosen Boston, so it's as a win for the region to land a new growing company.

2. It is healthy for the Philadelphia region to have multiple economic hubs, KoP being one of them, (although U City is more central IMO).

It isn't even that they chose somewhere outside of Philly proper, it's that they chose KoP. Why would anyone want to move to highway hell when they could have chosen Wayne, Radnor, Conshohocken, etc.

[PHLtoNYC]

Originally Posted by mcgrath618

It isn't even that they chose somewhere outside of Philly proper, it's that they chose KoP. Why would anyone want to move to highway hell when they could have chosen Wayne, Radnor, Conshohocken, etc.

You got me there.
But they are working with Brandywine for the development of the new building.

Brandywine Realty has had plans for a new building at 650 Park for several years. In 2019, it razed an old office building on the site after receiving approvals from Upper Merion to develop a four-story, 100,000-square-foot office building in its place along with a parking structure. It never moved forward with that building and now the developer is before the township on plans to build the Exelixis complex.

[AnEmperorPenguin]

Originally Posted by EastSideHBG

We don't need to make the same mistakes other places are making. It's a complex issue and yes can be hard to control but we could at least try.

This is really an insane take, what do you mean "control" them from moving in? Instead of making the housing crisis worse through the NIMBYism this inevitably leads to, the city could just as well let developers build the housing these people want to buy and use the tax money for rent subsidies and programs like "Turn the Key".

[summersm343]

I'm not sure why people are surprised they picked KOP. There are a lot of companies in KOP. It's clearly an attractive place to do business, or they wouldn't be there.

There's not a ton of space or new builds (if any at all) in Wayne or Radnor. Plus, the office buildings in Wayne are basically King of Prussia anyways.

King of Prussia does have the town center now, easy access to Valley Forge Park, a Casino, a top golf coming, plus the mall and very easy highway access, and a transit line coming soon.

I know we all prefer these type of companies locate in the city, but it's not always going to work out that way. Right now there are 4 main Life Science clusters in the region = University City, the Navy Yard, King of Prussia and Spring House/Ambler.

Glad they chose the region at all honestly!

Originally Posted by mcgrath618

Life sciences companies are signing to lease space in University City left and right... except at Schuylkill Yards. I guess that factory going up at 30th and Chestnut counts but other than Spark who has been in the area for ages, I haven't heard of any big tenants signing to lease space at Schuylkill Yards. I will ask again, what is Brandywine doing?????

Brandywine has 400K sq ft of life sciences leases at Schuylkill Yards which hasn't been announced yet. I would imagine we'll hear those announcements by the end of this year.

They're also work on shifting Dechert and some other Cira Centre tenants to 3001 JFK to get that building off the ground, then converting more space at Cira Centre to life sciences space. 3001 JFK looks like it may be a mix of lab and office space.

[EastSideHBG]

Originally Posted by mcgrath618

It isn't even that they chose somewhere outside of Philly proper, it's that they chose KoP. Why would anyone want to move to highway hell when they could have chosen Wayne, Radnor, Conshohocken, etc.

Because KOP has a lot to offer and is in a great location depending on what your interests are.

Originally Posted by AnEmperorPenguin

This is really an insane take, what do you mean "control" them from moving in? Instead of making the housing crisis worse through the NIMBYism this inevitably leads to, the city could just as well let developers build the housing these people want to buy and use the tax money for rent subsidies and programs like "Turn the Key".

The insane part is how you interpreted my sentence Of course you can't control people from moving in and that wasn't what I was implying. But you may be able to get a handle on it and control some of the results e.g. incentives for long-time residents to stay vs selling. My underlying point is still why not try to avoid the same mistakes other places are making and you can have a healthy balance between newcomers and retaining some of the lifeblood of your neighborhoods.

Originally Posted by summersm343

I'm not sure why people are surprised they picked KOP. There are a lot of companies in KOP. It's clearly an attractive place to do business, or they wouldn't be there.

There's not a ton of space or new builds (if any at all) in Wayne or Radnor. Plus, the office buildings in Wayne are basically King of Prussia anyways.

King of Prussia does have the town center now, easy access to Valley Forge Park, a Casino, a top golf coming, plus the mall and very easy highway access, and a transit line coming soon.

I know we all prefer these type of companies locate in the city, but it's not always going to work out that way. Right now there are 4 main Life Science clusters in the region = University City, the Navy Yard, King of Prussia and Spring House/Ambler.

Glad they chose the region at all honestly!

Exactly. Plus Upper Merion schools are decent and you can bring in talent from west of KOP and 202 is much better to drive on now.

[summersm343]

West Chester Borough Council supports effort to restore SEPTA passenger rail service

West Chester Borough Council is unanimously throwing its support behind a proposal to restore the area’s passenger rail line connecting the borough to Philadelphia.

Commuter trains have not operated in Chester County’s most populous municipality since SEPTA shuttered the service in 1986. A community-driven revival has been in the works for years.

A recent vote by borough council cemented a resolution that allows the Railroad Restoration Committee to seek funding to reestablish service from Wawa, Delaware County, to West Chester. They call the plan the Metro Concept.

“It’s a less costly and more achievable approach to returning rail service using battery-operated cars, and what we’d like to do is lease the cars for two years as a pilot project to show that we can attract riders,” said Jo Ann Kelton, chairperson of the Railroad Restoration Committee.

PennDOT published a feasibility study in 2018 that showed it was possible ridership would return if passenger service made a comeback. However, the price tag for revamping the line and buying modern passenger cars came in at an estimated $380 million. West Chester and SEPTA saw the cost as a rather large and expensive obstacle.

“Since that time, my committee and all the members, of course, have been working on plans to try to develop an alternate method of restoring service until SEPTA would be ready to take it over,” Kelton said.

She pointed to the upcoming revival of the defunct commuter rail station in Wawa as a sign of progress. Once SEPTA officially reconnects its Elwyn stop to Wawa, Kelton believes that the Metro Concept will have an opportunity to build on it and put West Chester back “on the map.”

The plan is to reopen four stations: two in West Chester, one in Westtown Township, and one near Cheyney University. The idea is that passengers from West Chester would transfer over from the battery-operated cars once at the Wawa station to regular SEPTA cars.

According to the committee, this endeavor would cost $16.4 million — just 4% of PennDOT’s original estimation. This is largely because the plan does not call for the lines to be completely refitted to operate with the modern SEPTA cars.

“We think it’s feasible, and we think we can do it. We think it’s a very attractive alternative. And right now, we’re looking for funding sources, both state, local, and federal,” Kelton said.

“I feel like we’ve made leaps and bounds in terms of trying to get some momentum going. And although we’re not there [yet] and we have a long way to go on whether we could actually accomplish this, it just feels like we’re moving in the right direction,” Stefano said.

While the committee’s work has largely run smoothly, there is one small wrinkle in their plans. A portion of the line is currently used by the West Chester Railroad, which is a tourist train that has been in operation since 1997.

The borough leases those tracks from SEPTA and the all-volunteer nonprofit West Chester Railroad Heritage Association operates the train.

“We run mostly on Sundays from Easter through September. And then October, November, December, we run on Saturdays as well. We’ll run anywhere from one to five trains on a particular given day,” said Tyler Haney, the president of the West Chester Railroad Heritage Association.

“West Chester Railroad’s position has always been that we’re leasing the railroad at the pleasure of SEPTA and if SEPTA ever decides they want to bring regional rail service back, we will give up the tracks of them and let them take over and we would have to move on somewhere,” Haney said.

Haney thinks it’s possible to run regional rail service and the tourist train on the same tracks as long as there is a plan for how it’s going to be operated and who’s going to be responsible for maintenance — and as long as it doesn’t impact their operations.

West Chester Railroad did discuss with the borough council to have an amendment put into the resolution that the commuter rail should not impact its weekend operations. Because the trains are set to operate at different times, Kelton doesn’t believe that there will be any overlap in services or tours.

Read more here:
https://whyy.org/articles/west-chest...-rail-service/

[AnEmperorPenguin]

Originally Posted by EastSideHBG

My underlying point is still why not try to avoid the same mistakes other places are making and you can have a healthy balance between newcomers and retaining some of the lifeblood of your neighborhoods.

The idea that newcomers are a problem is already what most of council believes, they aren't trying to "do something about it" by preventing people selling/moving out (which wouldn't even be possible), instead they scapegoat new residents for letting city services rot. And the "lifeblood of the neighborhoods" people aren't even better for the neighborhoods, so it's nonsense to begin with.

That's why I'm saying it's insane, it's a mindset that we can watch in real time have bad outcomes for the city