PHILADELPHIA | 3001 JFK Boulevard | Schuylkill Yards | 512 FT | 34 FLOORS

[Knight Hospitaller]

Originally Posted by TK2001

Just noticed something else on this site. There's a temporary building set up as the construction office for 3001 JFK

Wouldn't that be a nice Christmas present? Now I'm anxious to learn if it's the original plan or whether the use/design will change. Since, as recently discussed, a hotel in that area would make a ton of sense, I sort of hope it's just office/lab space. That would increase the likelihood of a taller mixed use tower on another SY site.

[PhillyPDX]

Not sure where to place this, but from my friends in the Philly bio tech industry, there has been a serious drop in private funding for research the last 2 years. These layoffs (below) were like 25% of the company's payroll, and according to my friends, are due to an issue many firms in UC are dealing with. I wonder if this is just the tip of the iceberg for a reduction in medical research funds, and what that will due to potential for future growth in UC over the next few years. I'm assuming just another area high interest/loan rates are rearing their ugly heads.

https://www.inquirer.com/health/univ...-20231205.html

[UrbanRevival]

Originally Posted by PhillyPDX

Not sure where to place this, but from my friends in the Philly bio tech industry, there has been a serious drop in private funding for research the last 2 years. These layoffs (below) were like 25% of the company's payroll, and according to my friends, are due to an issue many firms in UC are dealing with. I wonder if this is just the tip of the iceberg for a reduction in medical research funds, and what that will due to potential for future growth in UC over the next few years. I'm assuming just another area high interest/loan rates are rearing their ugly heads.

https://www.inquirer.com/health/univ...-20231205.html

Yeah, the funding drop is definitely reverberating across the industry:

https://www.forbes.com/sites/ritanum...harmas-future/

It's fallout for sure that's related to interest rates and dramatic pullback in VC. I think it's likely to begin thawing next year, but part of it is an industry model that has to be examined.

But Philly companies tend to be more financially conservative and careful generally. The promising research is still there and is well-positioned to weather the storm.

[PhillyPDX]

Originally Posted by UrbanRevival

Yeah, the funding drop is definitely reverberating across the industry:

https://www.forbes.com/sites/ritanum...harmas-future/

It's fallout for sure that's related to interest rates and dramatic pullback in VC. I think it's likely to begin thawing next year, but part of it is an industry model that has to be examined.

But Philly companies tend to be more financially conservative and careful generally. The promising research is still there and is well-positioned to weather the storm.

My interpretation is as money gets tighter, financing is steering away from the riskier return propositions, as it would in any industry. The more long term/experimental/riskier return studies are losing funding. Unfortunately, I think that's also the kind of study that led to the covid vaccine....

[TK2001]

3001 JFK construction office by Philly SkyGuy, on Flickr

[PHLJD13]

Originally Posted by TK2001

3001 JFK construction office by Philly SkyGuy, on Flickr

Amtrak has had construction trailers in this area for many years; is there a credible source confirming this particular unit is related to the 3001 project?

[PHLtoNYC]

Originally Posted by PHLJD13

Amtrak has had construction trailers in this area for many years; is there a credible source confirming this particular unit is related to the 3001 project?

The little Intech sign says 3001 Construction Office. Someone should knock and ask.

[Redddog]

Originally Posted by PHLtoNYC

The little Intech sign says 3001 Construction Office. Someone should knock and ask.

wow. this could be huge.

[TK2001]

Looking back at my photos, the site was clear in July and August 2022 other than the facade mockup of Avira. In September 2022, the construction office specifically for 3001 JFK was put on site

[TK2001]

3025 and 3001 JFK-Schuylkill Yards brochure by Philly SkyGuy, on Flickr

3001 JFK-Schuylkill Yards brochure by Philly SkyGuy, on Flickr

^
I've never seen this rendering before, I wish the quality was better. These are from the Schuylkill Yards brochure on their site

https://hs.brandywinerealty.com/hubf...20-%202021.pdf

[Urbanthusiat]

I'd be really surprised if this gets started anytime soon, unless they pivot to a model like 3025 JFK with residential (which would no doubt lease well). There's a lot of vacant office space still in the base of 3025 JFK and in 3151 Market.

[PHLtoNYC]

Originally Posted by Urbanthusiat

I'd be really surprised if this gets started anytime soon, unless they pivot to a model like 3025 JFK with residential (which would no doubt lease well). There's a lot of vacant office space still in the base of 3025 JFK and in 3151 Market.

cough *hotel* cough.

[Redddog]

Originally Posted by PHLtoNYC

cough *hotel* cough.

Right?! What an absolute no-brainer for that location.

[Knight Hospitaller]

^As has often been said. One of the best hotel locations imaginable. Right in the new middle of things, on top of a major transportation hub.

[TK2001]

3001 JFK Boulevard from South Street Bridge by Philly SkyGuy, on Flickr

3001 JFK Boulevard rendering by Philly SkyGuy, on Flickr

The artwork along the fence is called "Its only up from here". So let's have this thing go up!