PHILADELPHIA | Lowrise/General Developments Thread

[TempleGuy1000]

OCF has a nice write up on 2204 Walnut.

Ten Residential Stories Coming to 22nd & Walnut Street

[summersm343]

Originally Posted by PHLtoNYC

To get back OT, Southern Land Co. announced The Laurel is over 50% sold as of yesterday. A positive sign for that building. I have no clue how other high-end condo developments are doing.

It will be interesting if Toll Brothers actually breaks ground on their Jewelers Row tower. If they do, then that is a good sign of condo market conditions.

Laurel is over 50% sold but they're behind on their sales. They should've been at this point late summer of last year. Sooo, they're about 7 months behind on their sales metrics....

[summersm343]

Originally Posted by TempleGuy1000

OCF has a nice write up on 2204 Walnut.

Ten Residential Stories Coming to 22nd & Walnut Street

Quite a beautiful project. Really hope this happens

[summersm343]

Northern Liberties updates from Naked Philly

817 N. 3rd Street current progress:


Rendering of 817 N. 3rd Street on Work in Progress sign:


807 N. 3rd Street wrapping up construction:


3rd & Poplar wrapping up construction:


Read/view more here:
https://www.ocfrealty.com/naked-phil...strial-history

[summersm343]

Old City updates from Naked Philly

214-20 Vine Street current progress:


214-20 Vine Street rendering on Work in Progress sign:


207-13 Vine Street current progress:


207-13 Vine Street rendering:


207-13 Vine Street rendering:


230 Vine Street - Painted Bridge current site:


230 Vine Street rendering:


230 Vine Street rendering:


Read/view more here:
https://www.ocfrealty.com/naked-phil...et-in-old-city

[mcgrath618]

Originally Posted by summersm343

3rd & Poplar wrapping up construction:


Read/view more here:
https://www.ocfrealty.com/naked-phil...strial-history

powerlinespowerlinespowerlinespowerlines

[summersm343]

Originally Posted by mcgrath618

powerlinespowerlinespowerlinespowerlines

Yeah that's awful

[skyhigh07]

Originally Posted by summersm343

Yeah that's awful

Are developers able help find a way or pay to have them burried?

[Busy Bee]

Lagos?

It really is shameful and I'm honestly tired of hearing all the excuses for it.

[PHLtoNYC]

Originally Posted by summersm343

Laurel is over 50% sold but they're behind on their sales. They should've been at this point late summer of last year. Sooo, they're about 7 months behind on their sales metrics....

Interesting, that seems like an aggressive timeline. I wonder if those metrics were determined pre-covid? There's only 64 units, although at the the top of the price spectrum.

And has it been confirmed if the $25M penthouse sold? I think it was another penthouse unit that recently sold, not the record one.

[jaysb]

Old City updates from Naked Philly[/B]

214-20 Vine Street current progress:




I really want to know why these windows are so tiny. cheap.

[PHLtoNYC]

^ It looks like tiny cheap window holes for a Hampton Inn. A far cry from the original design.

[summersm343]

Originally Posted by PHLtoNYC

Interesting, that seems like an aggressive timeline. I wonder if those metrics were determined pre-covid? There's only 64 units, although at the the top of the price spectrum.

And has it been confirmed if the $25M penthouse sold? I think it was another penthouse unit that recently sold, not the record one.

Sales started in 2018. I visited the sales center not long after they opened. So yes, pre-pandemic metrics... but still.... They only sold 32-35 condos in 4 years? That's a pretty slow pace. Obviously COVID and top end of the price spectrum played into this... but, it's not spectacular by any means.

The $25M penthouse has not sold. It was the $8,275,995 condo that sold. Still a huge price for Philadelphia. You can check if things sold on Realtor.com at anytime if you don't have access to Bright MLS. Bright MLS feeds in real time to Realtor.com, so once a listing goes under construction, it would show on Realtor.com.

https://www.realtor.com/realestatean...lphia_PA/sby-2

[chimpskibot]

^With the condos I wonder If that has to do with increasing mortgage rates making the lower end of the condo market around CC and near-CC less attractive Vs buying a similalry prices rowhome/semi-detached/sfh somewhere else in the city for about the same price and having a potential appreciation upside later on?

[summersm343]

Jefferson Health pursuing development of proton therapy center in Northeast Philadelphia

Jefferson Health, looking to take its cancer care to a new level, is planning to create a proton therapy center at Jefferson Torresdale Hospital in Northeast Philadelphia.

The Philadelphia region is currently home to one proton therapy center, which was opened by Penn Medicine in early 2010 inside its Perelman Center for Advanced Medicine in University City.

Penn Medicine is working on two projects to add new centers in New Jersey and Pennsylvania. It is also collaborating with Virtua Health to open South Jersey's first proton therapy center, at a cost of $35 million, in late 2022.

There are currently 39 proton therapy centers in the United States, and another 20 under construction or in the planning stage. Such centers can cost anywhere from $20 million to $200 million to build depending on their size.

Jefferson, according to its application filed with the Philadelphia City Planning Commission, wants to build a two-story, 42,645-square-foot center at its Torresdale Hospital campus at 10800 Knights Road.

Jefferson said the project is still in the early planning stages and that it could not provide additional details.

Article behind paywall here:
https://www.bizjournals.com/philadel...Pos=0#cxrecs_s

[summersm343]

Originally Posted by chimpskibot

^With the condos I wonder If that has to do with increasing mortgage rates making the lower end of the condo market around CC and near-CC less attractive Vs buying a similalry prices rowhome/semi-detached/sfh somewhere else in the city for about the same price and having a potential appreciation upside later on?

Well, and the condo market is still seeing lagging negative effects from COVID as well. It's only natural that people wanted more legroom and breathing room during the pandemic. People are still hesitating to buy more confined and tight-quarter condos in the city, especially with constantly changing COVID restrictions.

These luxury buyers want confidence in their investment first and foremost. The city needs to help build that confidence by showing a concerted effort towards rebuilding the city economy post-COVID, and a concerted effort to address gun violence. So far, we haven't seen much of anything out of the city in those regards.

[summersm343]

80-Unit, Mixed-Use Building Planned in Roxborough

Rendering of 6808-16 Ridge Avenue:


Current site:



Read/view more here:
http://www.rising.realestate/80-unit...in-roxborough/

[summersm343]

Vesper Day Club May Be Replaced by 20 Homes in Northern Liberties

Current site:



Site plan overview:



Current site:



Project renderings:





Read/view more here:
http://www.rising.realestate/vesper-...ern-liberties/

[allovertown]

Originally Posted by summersm343

Well, and the condo market is still seeing lagging negative effects from COVID as well. It's only natural that people wanted more legroom and breathing room during the pandemic. People are still hesitating to buy more confined and tight-quarter condos in the city, especially with constantly changing COVID restrictions.

So people are worried about being in close quarters and being in shared spaces that naturally occur in condos because they're worried about catching Covid. But they're also against the mask mandate, which would make such places safer.

Makes sense!

BTW I'm so glad you've opened the doors to complaining about the mask policy again. A lot of great discussion being had. Definitely not just the same people, rehashing the same things endlessly.

And I never answered you a few weeks ago because I was more than happy to move on from this. But you wanted to know when is enough enough? Do I want to do this forever?

Um no. But speaking as someone with two unvaccinated under 5 year old children, I'd love it if people could get over having a piece of cloth over their face until everyone could get vaccinated. Too much to ask?

If you don't give a shit about others, maybe at least a little longer until we can fully come to grips with what the fuck this disease is and why it's shrinking people's fucking brains? (https://www.nationalgeographic.com/m...rain-to-shrink) Maybe? I mean sounds reasonable to me, right.

Also, there's the risk reward factor to consider. No one is even considering shutting down the city again. We're open for business. There is basically nothing you can't do. All you have to do is a wear a mask. Seems like a small ask. But hey that's me, I'm not prone to bitching and moaning about doing the smallest insignificant shit in the name of public safety. You do you!

[El Duderino]

Originally Posted by summersm343

May CDR Submissions

2001 Richmond Street (remainder of Northbank development)
-Located on the Riverfront. Is this "The Riverfront District," "Fishtown," "Olde Richmond"??? What are we going to call this area?
-120 townhomes, 50 duplexes, an 80-unit mixed-use residential building with ground floor retail/commercial and a continuation of the Delaware River Trail and more green space.
-Townhomes and duplexes are 4 floors in total. The mixed use building is also 4 floors
PDF:
https://www.phila.gov/media/20220419...3-2022-CDR.pdf

I think they should call the area between Penn Treaty Park and Graffiti Pier, east of 95, just "Penn Treaty", though I'm sure the developers will angle to call it Northbank.